Zacks Investment Research upgraded shares of Crown Crafts, Inc. (NASDAQ:CRWS) from a hold rating to a buy rating in a research note issued to investors on Friday. Zacks Investment Research currently has $7.25 price target on the textile maker’s stock.
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. “
Other analysts have also recently issued research reports about the company. FBR & Co raised Crown Crafts from a neutral rating to a buy rating and increased their target price for the company from $7.00 to $7.50 in a research report on Friday, August 11th. Roth Capital set a $9.00 target price on Crown Crafts and gave the company a buy rating in a research report on Saturday, June 17th. Finally, TheStreet cut Crown Crafts from a b- rating to a c+ rating in a research report on Friday, June 23rd. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $7.69.
Crown Crafts (NASDAQ CRWS) opened at 6.55 on Friday. Crown Crafts has a 1-year low of $5.40 and a 1-year high of $10.24. The stock has a market cap of $65.87 million, a PE ratio of 13.37 and a beta of 0.42. The stock has a 50 day moving average price of $6.05 and a 200-day moving average price of $7.11.
Crown Crafts (NASDAQ:CRWS) last announced its earnings results on Thursday, August 10th. The textile maker reported $0.08 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.08. The business had revenue of $13.65 million for the quarter, compared to analysts’ expectations of $13.49 million. Crown Crafts had a return on equity of 13.46% and a net margin of 7.79%. On average, equities analysts expect that Crown Crafts will post $0.58 EPS for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 6th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.08 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.32 annualized dividend and a dividend yield of 4.89%. Crown Crafts’s dividend payout ratio is presently 64.00%.
In other Crown Crafts news, Director Donald R. Ratajczak acquired 5,000 shares of the firm’s stock in a transaction dated Friday, August 11th. The stock was purchased at an average price of $5.75 per share, for a total transaction of $28,750.00. Following the acquisition, the director now owns 125,151 shares in the company, valued at approximately $719,618.25. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 14.17% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in 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 acquiring an additional 1,706 shares during the last quarter. Bard Associates Inc. raised its stake in Crown Crafts by 0.5% in the 2nd quarter. Bard Associates Inc. now owns 181,070 shares of the textile maker’s stock worth $1,258,000 after acquiring an additional 950 shares during the last quarter. Synovus Financial Corp raised its stake in Crown Crafts by 2.4% in the 2nd quarter. Synovus Financial Corp now owns 110,463 shares of the textile maker’s stock worth $768,000 after acquiring an additional 2,600 shares during the last quarter. WCM Investment Management CA raised its stake in 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 acquiring an additional 2,335 shares during the last quarter. Finally, North Star Investment Management Corp. raised its stake in 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 acquiring an additional 73,206 shares during the last quarter. Institutional investors own 41.87% of the company’s stock.
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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