ValuEngine Lowers Crown Crafts (NASDAQ:CRWS) to Strong Sell

ValuEngine lowered shares of Crown Crafts (NASDAQ:CRWS) from a sell rating to a strong sell rating in a report released on Saturday, ValuEngine reports.

Separately, Zacks Investment Research upgraded shares of Crown Crafts from a sell rating to a hold rating in a research note on Wednesday, August 14th.

Crown Crafts stock opened at $5.37 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.23 and a quick ratio of 1.47. Crown Crafts has a 1-year low of $4.01 and a 1-year high of $6.15. The firm has a market capitalization of $53.23 million, a P/E ratio of 10.74 and a beta of 0.44. The company’s 50-day moving average is $5.12 and its 200 day moving average is $4.97.

Crown Crafts (NASDAQ:CRWS) last issued its earnings results on Wednesday, August 14th. The textile maker reported $0.08 EPS for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.04. The business had revenue of $15.94 million for the quarter, compared to the consensus estimate of $15.60 million. Crown Crafts had a net margin of 7.59% and a return on equity of 13.54%. Research analysts anticipate that Crown Crafts will post 0.52 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 13th will be paid a $0.08 dividend. The ex-dividend date is Thursday, September 12th. This represents a $0.32 dividend on an annualized basis and a yield of 5.96%. Crown Crafts’s dividend payout ratio is currently 64.00%.

In other Crown Crafts news, insider Nanci Freeman sold 15,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $5.18, for a total value of $77,700.00. Following the transaction, the insider now directly owns 157,030 shares in the company, valued at approximately $813,415.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.63% of the stock is owned by corporate insiders.

Hedge funds have recently modified their holdings of the business. Mid Atlantic Financial Management Inc. ADV bought a new position in Crown Crafts in the 1st quarter worth about $68,000. BlackRock Inc. grew its stake in Crown Crafts by 15.1% in the 2nd quarter. BlackRock Inc. now owns 35,440 shares of the textile maker’s stock worth $167,000 after acquiring an additional 4,643 shares in the last quarter. River & Mercantile Asset Management LLP bought a new position in Crown Crafts in the 2nd quarter worth about $269,000. LSV Asset Management grew its stake in Crown Crafts by 4.6% in the 1st 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 in the last quarter. Finally, Municipal Employees Retirement System of Michigan bought a new position in Crown Crafts in the 2nd quarter worth about $324,000. Institutional investors and hedge funds own 33.59% 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.

Further Reading: What is diluted earnings per share (Diluted EPS)?

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