Crown Crafts (NASDAQ:CRWS) announced its earnings results on Wednesday. The textile maker reported $0.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.04, Morningstar.com reports. Crown Crafts had a net margin of 6.57% and a return on equity of 12.49%. The company had revenue of $15.94 million for the quarter, compared to analyst estimates of $15.60 million.
NASDAQ CRWS traded up $0.09 during trading hours on Thursday, hitting $5.25. The company’s stock had a trading volume of 538 shares, compared to its average volume of 27,801. The stock has a fifty day moving average of $4.62. Crown Crafts has a twelve month low of $4.01 and a twelve month high of $6.15. The firm has a market cap of $53.13 million, a price-to-earnings ratio of 10.50 and a beta of 0.51. The company has a quick ratio of 2.48, a current ratio of 5.02 and a debt-to-equity ratio of 0.11.
CRWS has been the topic of a number of research reports. ValuEngine upgraded shares of Crown Crafts from a “strong sell” rating to a “sell” rating in a research report on Thursday. Zacks Investment Research upgraded shares of Crown Crafts from a “sell” rating to a “hold” rating in a report on Wednesday.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Mid Atlantic Financial Management Inc. ADV acquired a new position in Crown Crafts in the first quarter valued at approximately $68,000. BlackRock Inc. lifted its holdings in Crown Crafts by 15.1% in the second quarter. BlackRock Inc. now owns 35,440 shares of the textile maker’s stock valued at $167,000 after buying an additional 4,643 shares during the period. LSV Asset Management lifted its holdings in Crown Crafts by 4.6% in the first quarter. LSV Asset Management now owns 53,864 shares of the textile maker’s stock valued at $277,000 after buying an additional 2,370 shares during the period. Essex Investment Management Co. LLC lifted its holdings in Crown Crafts by 72.3% in the second quarter. Essex Investment Management Co. LLC now owns 57,140 shares of the textile maker’s stock valued at $269,000 after buying an additional 23,975 shares during the period. Finally, Municipal Employees Retirement System of Michigan acquired a new position in Crown Crafts in the second quarter valued at approximately $324,000. Institutional investors and hedge funds 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.
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