Crocs (NASDAQ:CROX) Reaches New 12-Month High on Analyst Upgrade

Crocs, Inc. (NASDAQ:CROX)’s stock price reached a new 52-week high during trading on Thursday after Bank of America raised their price target on the stock from $160.00 to $187.00. Bank of America currently has a buy rating on the stock. Crocs traded as high as $165.25 and last traded at $163.67, with a volume of 230951 shares. The stock had previously closed at $159.42.

Several other research firms also recently commented on CROX. Wedbush raised their price objective on Crocs from $156.00 to $170.00 and gave the stock an “outperform” rating in a research note on Monday, May 13th. B. Riley raised their target price on shares of Crocs from $95.00 to $122.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 10th. Stifel Nicolaus upped their price target on shares of Crocs from $140.00 to $158.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Monness Crespi & Hardt raised their price objective on shares of Crocs from $140.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Finally, UBS Group upped their target price on shares of Crocs from $124.00 to $148.00 and gave the stock a “neutral” rating in a report on Wednesday, May 8th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $154.83.

Insider Buying and Selling

In other news, CEO Andrew Rees sold 10,000 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $160.15, for a total transaction of $1,601,500.00. Following the completion of the transaction, the chief executive officer now directly owns 79,748 shares in the company, valued at approximately $12,771,642.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Crocs news, CEO Andrew Rees sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $160.15, for a total transaction of $1,601,500.00. Following the sale, the chief executive officer now directly owns 79,748 shares of the company’s stock, valued at $12,771,642.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Anne Mehlman sold 7,150 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were 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 $22,750,355.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,178 shares of company stock worth $4,597,445. Corporate insiders own 2.72% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Crocs by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 5,572,643 shares of the textile maker’s stock worth $801,346,000 after purchasing an additional 76,460 shares during the period. WIT Partners Advisory Pte. Ltd. bought a new position in shares of Crocs during the fourth quarter valued at approximately $266,431,000. Coatue Management LLC raised its holdings in shares of Crocs by 836.7% in the fourth quarter. Coatue Management LLC now owns 1,029,765 shares of the textile maker’s stock worth $96,190,000 after buying an additional 919,835 shares during the period. Norges Bank bought a new stake in shares of Crocs during the 4th quarter worth approximately $72,211,000. Finally, Pacer Advisors Inc. boosted its holdings in Crocs by 13.4% during the 4th quarter. Pacer Advisors Inc. now owns 771,305 shares of the textile maker’s stock valued at $72,048,000 after acquiring an additional 91,318 shares during the period. Institutional investors own 93.44% of the company’s stock.

Crocs Stock Down 1.0 %

The company has a current ratio of 1.76, a quick ratio of 1.14 and a debt-to-equity ratio of 1.08. The company has a 50-day simple moving average of $140.62 and a 200 day simple moving average of $122.87. The company has a market cap of $9.58 billion, a P/E ratio of 12.22, a P/E/G ratio of 1.80 and a beta of 1.97.

Crocs (NASDAQ:CROX) last announced its quarterly earnings data on Tuesday, May 7th. The textile maker reported $3.02 earnings per share for the quarter, beating analysts’ consensus estimates of $2.25 by $0.77. The company had revenue of $938.60 million during the quarter, compared to analyst estimates of $884.29 million. Crocs had a net margin of 19.80% and a return on equity of 56.33%. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter last year, the business posted $2.61 EPS. On average, equities analysts anticipate that Crocs, Inc. will post 12.66 EPS for the current year.

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.