Zacks Investment Research upgraded shares of Crown Crafts, Inc. (NASDAQ:CRWS) from a hold rating to a buy rating in a research report report published on Friday. The brokerage currently has $7.25 price objective 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 equities research analysts also recently issued reports about the company. FBR & Co reaffirmed a mkt perform rating and set a $7.00 price objective on shares of Crown Crafts in a report on Tuesday, July 11th. TheStreet cut shares of Crown Crafts from a b- rating to a c+ rating in a research report on Friday, June 23rd. Finally, Roth Capital set a $9.00 price objective on shares of Crown Crafts and gave the stock a buy rating in a research report on Saturday, June 17th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of Buy and an average price target of $7.69.
Shares of Crown Crafts (NASDAQ:CRWS) opened at 6.55 on Friday. The company has a market cap of $65.87 million, a price-to-earnings 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. The company’s 50-day moving average is $6.04 and its 200-day moving average is $7.12.
Crown Crafts (NASDAQ:CRWS) last issued its quarterly 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. Crown Crafts had a return on equity of 13.46% and a net margin of 7.79%. The firm had revenue of $13.65 million for the quarter, compared to analyst estimates of $13.49 million. Equities research analysts predict that Crown Crafts will post $0.58 earnings per share for the current year.
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 paid 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 4.89%. Crown Crafts’s dividend payout ratio is 64.00%.
In other news, Director Donald R. Ratajczak bought 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The stock was acquired at an average cost of $5.75 per share, for a total transaction of $28,750.00. Following the purchase, the director now owns 125,151 shares of the company’s stock, valued at approximately $719,618.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 14.17% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Crown Crafts by 0.5% in the 2nd quarter. Vanguard Group Inc. now owns 380,694 shares of the textile maker’s stock valued at $2,627,000 after acquiring an additional 1,706 shares during the period. Bard Associates Inc. boosted its position in shares of Crown Crafts by 0.5% during 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 in the last quarter. Synovus Financial Corp boosted its position in shares of Crown Crafts by 2.4% during 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 in the last quarter. WCM Investment Management CA boosted its position in shares of Crown Crafts by 0.8% during 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 in the last quarter. Finally, North Star Investment Management Corp. boosted its position in shares of Crown Crafts by 20.9% during 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 in the last quarter. 41.87% of the stock is currently owned by hedge funds and other institutional investors.
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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