Crocs (NASDAQ:CROX) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of Crocs (NASDAQ:CROX) from a hold rating to a buy rating in a research report sent to investors on Friday.

Several other research analysts also recently issued reports on CROX. Guggenheim restated a “buy” rating and set a $155.00 price objective on shares of Crocs in a research report on Friday, December 6th. Robert W. Baird cut their price objective on Crocs from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. KeyCorp cut their price objective on Crocs from $155.00 to $150.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. UBS Group lowered their target price on shares of Crocs from $146.00 to $122.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. Finally, Barclays lowered their target price on shares of Crocs from $164.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.80.

Crocs Price Performance

CROX stock opened at $110.80 on Friday. The firm has a 50 day moving average of $107.82 and a 200-day moving average of $127.34. Crocs has a 12-month low of $85.71 and a 12-month high of $165.32. The company has a current ratio of 1.43, a quick ratio of 0.90 and a debt-to-equity ratio of 0.82. The company has a market cap of $6.46 billion, a price-to-earnings ratio of 8.03, a PEG ratio of 1.14 and a beta of 1.98.

Crocs (NASDAQ:CROX) last posted its quarterly earnings results on Tuesday, October 29th. The textile maker reported $3.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.10 by $0.50. Crocs had a net margin of 20.50% and a return on equity of 49.70%. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period last year, the firm earned $3.25 EPS. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, equities analysts expect that Crocs will post 12.93 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Susan L. Healy bought 1,000 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were acquired at an average price of $99.70 per share, for a total transaction of $99,700.00. Following the purchase, the chief financial officer now owns 22,652 shares in the company, valued at $2,258,404.40. This trade represents a 4.62 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John B. Replogle bought 2,240 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was bought at an average price of $112.60 per share, for a total transaction of $252,224.00. Following the purchase, the director now owns 9,304 shares in the company, valued at approximately $1,047,630.40. This represents a 31.71 % increase in their position. The disclosure for this purchase can be found here. 2.72% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Crocs

A number of institutional investors have recently modified their holdings of the business. FMR LLC grew its position in shares of Crocs by 4.8% during the 3rd quarter. FMR LLC now owns 8,907,591 shares of the textile maker’s stock valued at $1,289,908,000 after buying an additional 406,287 shares during the last quarter. State Street Corp grew its position in shares of Crocs by 0.7% during the 3rd quarter. State Street Corp now owns 1,812,493 shares of the textile maker’s stock valued at $262,467,000 after buying an additional 13,467 shares during the last quarter. Pacer Advisors Inc. grew its position in shares of Crocs by 33.8% during the 3rd quarter. Pacer Advisors Inc. now owns 1,459,654 shares of the textile maker’s stock valued at $211,372,000 after buying an additional 368,557 shares during the last quarter. Thrivent Financial for Lutherans grew its position in shares of Crocs by 1.3% during the 2nd quarter. Thrivent Financial for Lutherans now owns 901,973 shares of the textile maker’s stock valued at $131,634,000 after buying an additional 11,986 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Crocs by 12.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 790,225 shares of the textile maker’s stock worth $115,322,000 after purchasing an additional 89,610 shares during the last quarter. Institutional investors own 93.44% of the company’s stock.

Crocs Company Profile

Crocs, Inc, together with its subsidiaries, designs, develops, manufactures, markets, distributes, and sells casual lifestyle footwear and accessories for men, women, and children under Crocs and HEYDUDE Brand in the United States and internationally. The company offers various footwear products, including clogs, sandals, slides, flips, wedges, platforms, socks, boots, charms, flip flops, sneakers, and slippers.