Crown Crafts, Inc. (CRWS) Downgraded by Zacks Investment Research
Zacks Investment Research lowered shares of Crown Crafts, Inc. (NASDAQ:CRWS) from a buy rating to a hold rating in a research note published on Wednesday morning.
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 analysts also recently weighed in on the stock. FBR & Co upgraded shares of Crown Crafts from a neutral rating to a buy rating and boosted their target price for the stock from $7.00 to $7.50 in a report on Friday, August 11th. TheStreet downgraded 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 investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $7.69.
Shares of Crown Crafts (NASDAQ:CRWS) traded up 0.77% on Wednesday, hitting $6.55. The stock had a trading volume of 21,929 shares. The company has a 50 day moving average price of $6.04 and a 200-day moving average price of $7.12. The stock has a market cap of $65.87 million, a PE ratio of 13.37 and a beta of 0.42. 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 earnings results on Thursday, August 10th. The textile maker reported $0.08 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.08. Crown Crafts had a net margin of 7.79% and a return on equity of 13.46%. The firm had revenue of $13.65 million for the quarter, compared to the consensus estimate of $13.49 million. On average, equities research analysts anticipate that Crown Crafts will post $0.58 earnings per share for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Friday, October 6th. Investors of record on Friday, September 15th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.32 annualized dividend and a yield of 4.89%. Crown Crafts’s payout ratio is 64.00%.
In other news, Director Donald R. Ratajczak purchased 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The shares were bought at an average cost of $5.75 per share, for a total transaction of $28,750.00. Following the acquisition, the director now owns 125,151 shares of the company’s stock, valued at approximately $719,618.25. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 14.17% of the company’s stock.
A number of large investors have recently modified their holdings of CRWS. Goldman Sachs Group Inc. bought a new position in Crown Crafts during the 1st quarter valued at about $154,000. JPMorgan Chase & Co. grew its holdings in Crown Crafts by 3,825.5% during the 1st quarter. JPMorgan Chase & Co. now owns 23,553 shares of the textile maker’s stock valued at $194,000 after purchasing an additional 22,953 shares during the last quarter. Nationwide Fund Advisors bought a new position in Crown Crafts during the 1st quarter valued at about $270,000. LSV Asset Management grew its holdings in Crown Crafts by 4.4% during the 1st quarter. LSV Asset Management now owns 47,100 shares of the textile maker’s stock valued at $388,000 after purchasing an additional 1,978 shares during the last quarter. Finally, Cutter & CO Brokerage Inc. grew its holdings in Crown Crafts by 8.8% during the 1st quarter. Cutter & CO Brokerage Inc. now owns 61,800 shares of the textile maker’s stock valued at $509,000 after purchasing an additional 5,000 shares during the last quarter. Institutional investors own 41.87% of the company’s stock.
Crown Crafts Company Profile
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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