Crocs (NASDAQ:CROX) PT Raised to $187.00 at Bank of America

Crocs (NASDAQ:CROX) had its price objective upped by Bank of America from $160.00 to $187.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the textile maker’s stock. Bank of America‘s target price indicates a potential upside of 17.30% from the company’s previous close.

Several other equities analysts have also commented on the company. Wedbush boosted their price target on Crocs from $156.00 to $170.00 and gave the stock an “outperform” rating in a research report on Monday, May 13th. Barclays boosted their target price on shares of Crocs from $167.00 to $169.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 8th. B. Riley upped their target price on shares of Crocs from $95.00 to $122.00 and gave the company a “neutral” rating in a research note on Wednesday, April 10th. Williams Trading reiterated a “hold” rating and issued a $125.00 price objective (down previously from $135.00) on shares of Crocs in a report on Tuesday, April 16th. Finally, UBS Group raised their target price on Crocs from $124.00 to $148.00 and gave the company a “neutral” rating in a research note on Wednesday, May 8th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $154.83.

Crocs Stock Performance

Shares of CROX stock opened at $159.42 on Thursday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.14 and a current ratio of 1.76. The firm has a market capitalization of $9.68 billion, a price-to-earnings ratio of 12.34, a price-to-earnings-growth ratio of 1.80 and a beta of 1.97. Crocs has a one year low of $74.00 and a one year high of $161.04. The company has a 50 day moving average price of $140.05 and a 200 day moving average price of $122.62.

Crocs (NASDAQ:CROX) last issued its earnings results on Tuesday, May 7th. The textile maker reported $3.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.25 by $0.77. The business had revenue of $938.60 million during the quarter, compared to analysts’ expectations of $884.29 million. Crocs had a return on equity of 56.33% and a net margin of 19.80%. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.61 EPS. Sell-side analysts anticipate that Crocs will post 12.66 EPS for the current year.

Insider Activity

In related news, EVP Shannon Sisler sold 1,404 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $149.96, for a total value of $210,543.84. Following the completion of the transaction, the executive vice president now owns 37,103 shares in the company, valued at approximately $5,563,965.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Crocs news, EVP Shannon Sisler sold 1,404 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $149.96, for a total transaction of $210,543.84. Following the sale, the executive vice president now directly owns 37,103 shares of the company’s stock, valued at approximately $5,563,965.88. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Anne Mehlman sold 7,150 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $159.01, for a total value of $1,136,921.50. Following the completion of the sale, the executive vice president now directly owns 143,075 shares of the company’s stock, valued at approximately $22,750,355.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,178 shares of company stock worth $4,597,445. Corporate insiders own 2.72% of the company’s stock.

Institutional Trading of Crocs

Several hedge funds and other institutional investors have recently modified their holdings of the company. Raymond James & Associates lifted its stake in shares of Crocs by 235.8% in the 4th quarter. Raymond James & Associates now owns 58,514 shares of the textile maker’s stock valued at $5,466,000 after purchasing an additional 41,091 shares during the last quarter. Tyro Capital Management LLC bought a new stake in shares of Crocs during the 4th quarter worth about $10,481,000. Tealwood Asset Management Inc. acquired a new position in shares of Crocs during the 4th quarter valued at about $865,000. Teachers Retirement System of The State of Kentucky increased its holdings in shares of Crocs by 27.4% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 38,609 shares of the textile maker’s stock valued at $3,407,000 after acquiring an additional 8,297 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its stake in shares of Crocs by 242.1% in the 4th quarter. BNP Paribas Financial Markets now owns 56,494 shares of the textile maker’s stock valued at $5,277,000 after acquiring an additional 39,979 shares in the last quarter. 93.44% of the stock is currently owned by hedge funds and other institutional investors.

About Crocs

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.