Crown Crafts, Inc. (CRWS) Raised to Buy at Zacks Investment Research
Crown Crafts, Inc. (NASDAQ:CRWS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday. The brokerage currently has a $7.25 target price on the textile maker’s stock. Zacks Investment Research‘s target price points to a potential upside of 10.69% from the stock’s previous close.
According to Zacks, “Crown Crafts, Inc. operates, both directly and indirectly through its subsidiaries, in two principal business segments within the textile industry: Adult Home Furnishing and Juvenile Products, and Infant Products. Adult Home Furnishing and Juvenile Products consists of Bedroom Products, Throws and Decorative Home Accessories, and Juvenile Products. The Infant Products segment consists of infant bedding, bibs, infant soft goods and accessories. “
A number of other equities research analysts have also commented on the stock. FBR & Co upgraded shares of Crown Crafts from a “neutral” rating to a “buy” rating and upped their price target for the company from $7.00 to $7.50 in a report on Friday, August 11th. TheStreet lowered shares of Crown Crafts from a “b-” rating to a “c+” rating in a report on Friday, June 23rd. Finally, Roth Capital set a $9.00 price target on shares of Crown Crafts and gave the company a “buy” rating in a report on Saturday, June 17th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $7.69.
Crown Crafts (CRWS) traded up 0.77% during trading on Friday, hitting $6.55. 21,929 shares of the stock traded hands. The stock has a market cap of $65.87 million, a PE ratio of 13.37 and a beta of 0.42. The company has a 50-day moving average price of $6.02 and a 200-day moving average price of $7.12. Crown Crafts has a 12 month low of $5.40 and a 12 month high of $10.24.
Crown Crafts (NASDAQ:CRWS) last posted its quarterly earnings results on Thursday, August 10th. The textile maker reported $0.08 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.08. Crown Crafts had a net margin of 7.79% and a return on equity of 13.46%. The company had revenue of $13.65 million during the quarter, compared to analyst estimates of $13.49 million. Equities research analysts expect that Crown Crafts will post $0.58 EPS for the current year.
In related news, Director Donald R. Ratajczak acquired 5,000 shares of Crown Crafts stock in a transaction on Friday, August 11th. The shares were acquired at an average cost of $5.75 per share, with a total value of $28,750.00. Following the transaction, the director now owns 125,151 shares in the company, valued at $719,618.25. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 14.17% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of the business. Wellington Management Group LLP increased its position in Crown Crafts by 3.3% during the 1st quarter. Wellington Management Group LLP now owns 901,752 shares of the textile maker’s stock valued at $7,439,000 after purchasing an additional 28,400 shares during the period. North Star Investment Management Corp. grew its position in shares of Crown Crafts by 20.9% in the 2nd quarter. North Star Investment Management Corp. now owns 423,272 shares of the textile maker’s stock worth $2,942,000 after buying an additional 73,206 shares during the period. Vanguard Group Inc. grew its position in shares of Crown Crafts by 0.5% in the 2nd quarter. Vanguard Group Inc. now owns 380,694 shares of the textile maker’s stock worth $2,627,000 after buying an additional 1,706 shares during the period. WCM Investment Management CA grew its position in shares of Crown Crafts by 0.8% in the 2nd quarter. WCM Investment Management CA now owns 297,953 shares of the textile maker’s stock worth $2,071,000 after buying an additional 2,335 shares during the period. Finally, Royce & Associates LP grew its position in shares of Crown Crafts by 5.7% in the 1st quarter. Royce & Associates LP now owns 209,900 shares of the textile maker’s stock worth $1,732,000 after buying an additional 11,400 shares during the period. 41.87% of the stock is currently owned by institutional investors and hedge funds.
About Crown Crafts
Crown Crafts, Inc operates indirectly through its subsidiaries, Crown Crafts Infant Products, Inc, Hamco, Inc and Carousel Designs, LLC, in the infant and toddler products segment within the consumer products industry. The Company operates though the segment of infant and toddler products. These products consist of infant and toddler bedding, bibs, soft bath products, disposable products and accessories.
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