Cricut (NASDAQ:CRCT) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Cricut (NASDAQ:CRCT) from a hold rating to a buy rating in a research note published on Saturday.

Several other research firms have also weighed in on CRCT. The Goldman Sachs Group lowered Cricut from a “neutral” rating to a “sell” rating and lowered their target price for the company from $5.50 to $4.75 in a report on Thursday, October 16th. Weiss Ratings reissued a “hold (c-)” rating on shares of Cricut in a research note on Thursday. One investment analyst has rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Strong Sell” and an average target price of $4.18.

Cricut Trading Down 0.6%

Shares of Cricut stock opened at $4.60 on Friday. Cricut has a 12-month low of $3.94 and a 12-month high of $7.33. The stock has a market cap of $974.00 million, a PE ratio of 12.11 and a beta of 0.17. The company has a 50-day moving average of $5.68 and a two-hundred day moving average of $5.83.

Cricut (NASDAQ:CRCT) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.05 by $0.05. Cricut had a return on equity of 19.91% and a net margin of 11.31%.The business had revenue of $170.44 million for the quarter, compared to analyst estimates of $156.93 million. On average, sell-side analysts forecast that Cricut will post 0.28 EPS for the current fiscal year.

Cricut Announces Dividend

The business also recently declared a dividend, which will be paid on Tuesday, January 20th. Shareholders of record on Tuesday, January 6th will be issued a $0.10 dividend. This represents a dividend yield of 399.0%. The ex-dividend date is Tuesday, January 6th. Cricut’s dividend payout ratio (DPR) is 52.63%.

Insider Buying and Selling at Cricut

In other news, CEO Arora Ashish sold 21,250 shares of the business’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $5.47, for a total transaction of $116,237.50. Following the completion of the sale, the chief executive officer owned 2,696,561 shares in the company, valued at approximately $14,750,188.67. The trade was a 0.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders sold 223,245 shares of company stock valued at $1,325,952. Company insiders own 18.61% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CRCT. Copeland Capital Management LLC increased its position in shares of Cricut by 16.4% in the second quarter. Copeland Capital Management LLC now owns 13,632 shares of the company’s stock worth $92,000 after acquiring an additional 1,917 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of Cricut by 1.3% during the 2nd quarter. First Trust Advisors LP now owns 154,368 shares of the company’s stock valued at $1,045,000 after acquiring an additional 1,977 shares in the last quarter. Royce & Associates LP boosted its position in Cricut by 8.2% during the 3rd quarter. Royce & Associates LP now owns 28,583 shares of the company’s stock worth $180,000 after purchasing an additional 2,176 shares during the period. Osaic Holdings Inc. increased its holdings in Cricut by 255.9% in the 2nd quarter. Osaic Holdings Inc. now owns 3,644 shares of the company’s stock valued at $25,000 after purchasing an additional 2,620 shares in the last quarter. Finally, XTX Topco Ltd raised its position in Cricut by 6.3% in the first quarter. XTX Topco Ltd now owns 56,003 shares of the company’s stock valued at $288,000 after purchasing an additional 3,326 shares during the period. 19.60% of the stock is owned by institutional investors and hedge funds.

Cricut Company Profile

Cricut, Inc engages in the design, marketing, and distribution of a creativity platform that enables users to turn ideas into professional-looking handmade goods. It operates through three segments: Connected Machines, Subscriptions, and Accessories and Materials. The company offers connected machines, design apps, and accessories and materials for users to create personalized birthday cards, mugs, T-shirts, and large-scale interior decorations.