Zacks Investment Research upgraded shares of Crown Crafts, Inc. (NASDAQ:CRWS) from a sell rating to a buy rating in a research report released on Tuesday. The brokerage currently has $6.75 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 research analysts also recently issued research reports about the stock. FBR & Co upgraded shares of Crown Crafts from a neutral rating to a buy rating and boosted 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 shares of Crown Crafts and gave the company a buy rating in a research report on Saturday, June 17th. Finally, TheStreet downgraded shares of Crown Crafts from a b- rating to a c+ rating in a research report on Friday, June 23rd. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has an average rating of Buy and an average target price of $7.56.
Shares of Crown Crafts (NASDAQ CRWS) opened at 6.30 on Tuesday. Crown Crafts has a 12 month low of $5.40 and a 12 month high of $10.24. The stock’s 50 day moving average is $5.94 and its 200 day moving average is $7.21. The company has a market cap of $63.36 million, a P/E ratio of 12.86 and a beta of 0.47.
Crown Crafts (NASDAQ:CRWS) last released its earnings results on Thursday, August 10th. The textile maker reported $0.08 earnings per share (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 for the quarter, compared to the consensus estimate of $13.49 million. On average, analysts anticipate that Crown Crafts will post $0.58 EPS for the current fiscal year.
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The business also recently announced a quarterly dividend, which will be paid on Friday, October 6th. Investors of record on Friday, September 15th will be given a dividend of $0.08 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 5.08%. Crown Crafts’s payout ratio is presently 64.00%.
In related news, Director Donald R. Ratajczak bought 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The shares were bought at an average price of $5.75 per share, for a total transaction of $28,750.00. Following the transaction, the director now directly owns 125,151 shares of the company’s stock, valued at $719,618.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 14.17% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRWS. Renaissance Technologies LLC increased its position in Crown Crafts by 8.4% in the fourth quarter. Renaissance Technologies LLC now owns 287,500 shares of the textile maker’s stock valued at $2,228,000 after buying an additional 22,300 shares during the last quarter. Nationwide Fund Advisors acquired a new position in Crown Crafts during the first quarter valued at $270,000. North Star Investment Management Corp. increased its position in Crown Crafts by 107.3% in the first quarter. North Star Investment Management Corp. now owns 350,066 shares of the textile maker’s stock valued at $2,879,000 after buying an additional 181,160 shares during the last quarter. LSV Asset Management increased its position in Crown Crafts by 4.4% in the first quarter. LSV Asset Management now owns 47,100 shares of the textile maker’s stock valued at $388,000 after buying an additional 1,978 shares during the last quarter. Finally, Cutter & CO Brokerage Inc. increased its position in Crown Crafts by 8.8% in the first quarter. Cutter & CO Brokerage Inc. now owns 61,800 shares of the textile maker’s stock valued at $509,000 after buying an additional 5,000 shares during the last quarter. Hedge funds and other institutional investors own 42.20% of the company’s stock.
About Crown Crafts
Crown Crafts, Inc operates indirectly through its subsidiaries, Crown Crafts Infant Products, Inc and Hamco, Inc, 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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