Zacks Investment Research Upgrades Crown Crafts (NASDAQ:CRWS) to “Hold”

Crown Crafts (NASDAQ:CRWS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday, Zacks.com reports.

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. “

Separately, ValuEngine lowered shares of Crown Crafts from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 22nd.

CRWS traded up $0.24 on Wednesday, reaching $5.16. 38,630 shares of the company’s stock were exchanged, compared to its average volume of 36,037. The firm has a market capitalization of $52.21 million, a PE ratio of 10.32 and a beta of 0.51. Crown Crafts has a twelve month low of $4.01 and a twelve month high of $6.15. The business has a fifty day moving average price of $4.62. The company has a current ratio of 5.02, a quick ratio of 2.48 and a debt-to-equity ratio of 0.11.

Crown Crafts (NASDAQ:CRWS) last posted its quarterly earnings results on Thursday, June 13th. The textile maker reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). The business had revenue of $21.72 million for the quarter, compared to analyst estimates of $20.40 million. Crown Crafts had a return on equity of 12.49% and a net margin of 6.57%. Analysts expect that Crown Crafts will post 0.52 EPS for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Mid Atlantic Financial Management Inc. ADV acquired a new position in Crown Crafts during the first quarter worth about $68,000. BlackRock Inc. boosted its position in Crown Crafts by 15.1% during the second quarter. BlackRock Inc. now owns 35,440 shares of the textile maker’s stock worth $167,000 after acquiring an additional 4,643 shares during the last quarter. LSV Asset Management boosted its position in Crown Crafts by 4.6% during the first quarter. LSV Asset Management now owns 53,864 shares of the textile maker’s stock worth $277,000 after acquiring an additional 2,370 shares during the last quarter. Municipal Employees Retirement System of Michigan acquired a new position in Crown Crafts during the second quarter worth about $324,000. Finally, Cutter & CO Brokerage Inc. acquired a new position in Crown Crafts during the second quarter worth about $441,000. Hedge funds and other institutional investors own 40.05% of the company’s stock.

About Crown Crafts

Crown Crafts, Inc, through its subsidiaries, operates in the consumer products industry in the United States and internationally. It provides infant, toddler, and juvenile products, including infant and toddler beddings; blankets and swaddle blankets; nursery and toddler accessories; room décors; reusable and disposable bibs; burp cloths; hooded bath towels and washcloths; reusable and disposable placemats, and floor mats; disposable toilet seat covers and changing mats; developmental toys; feeding and care goods; and other infant, toddler, and juvenile soft goods.

Recommended Story: How does a security become overbought?

Get a free copy of the Zacks research report on Crown Crafts (CRWS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Crown Crafts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crown Crafts and related companies with MarketBeat.com's FREE daily email newsletter.