Crocs (NASDAQ:CROX) Coverage Initiated at Needham & Company LLC

Investment analysts at Needham & Company LLC started coverage on shares of Crocs (NASDAQ:CROX) in a research report issued on Friday, Marketbeat reports. The firm set a “buy” rating and a $116.00 price target on the textile maker’s stock. Needham & Company LLC’s price objective would suggest a potential upside of 9.35% from the stock’s current price.

Several other brokerages have also commented on CROX. Monness Crespi & Hardt decreased their price target on Crocs from $170.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Wedbush reaffirmed an “outperform” rating and set a $170.00 target price on shares of Crocs in a research note on Monday, July 29th. Barclays reduced their price target on shares of Crocs from $164.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. Loop Capital lowered shares of Crocs from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $150.00 to $110.00 in a report on Thursday, November 7th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $170.00 target price on shares of Crocs in a report on Friday, August 23rd. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Crocs presently has a consensus rating of “Moderate Buy” and an average price target of $148.80.

Crocs Trading Up 4.2 %

Shares of CROX stock opened at $106.08 on Friday. The company has a current ratio of 1.43, a quick ratio of 0.90 and a debt-to-equity ratio of 0.82. Crocs has a twelve month low of $85.71 and a twelve month high of $165.32. The company’s 50-day moving average price is $125.11 and its 200-day moving average price is $135.74. The stock has a market cap of $6.18 billion, a price-to-earnings ratio of 7.69, a PEG ratio of 1.03 and a beta of 2.01.

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

Insider Activity

In other news, Director John B. Replogle purchased 2,240 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were acquired at an average cost of $112.60 per share, for a total transaction of $252,224.00. Following the completion of the purchase, the director now directly owns 9,304 shares in the company, valued at $1,047,630.40. The trade was a 31.71 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Susan L. Healy acquired 1,000 shares of Crocs stock in a transaction that occurred on Wednesday, November 13th. The stock was purchased at an average price of $99.70 per share, with a total value of $99,700.00. Following the transaction, the chief financial officer now owns 22,652 shares of the company’s stock, valued at $2,258,404.40. This trade represents a 4.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 2.72% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. TD Private Client Wealth LLC boosted its position in shares of Crocs by 21.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,245 shares of the textile maker’s stock worth $180,000 after purchasing an additional 216 shares in the last quarter. Arete Wealth Advisors LLC lifted its stake in shares of Crocs by 1.3% in the third quarter. Arete Wealth Advisors LLC now owns 20,059 shares of the textile maker’s stock valued at $2,905,000 after purchasing an additional 250 shares during the period. Empire Financial Management Company LLC boosted its holdings in Crocs by 5.3% during the third quarter. Empire Financial Management Company LLC now owns 6,580 shares of the textile maker’s stock worth $953,000 after buying an additional 332 shares in the last quarter. Savoie Capital LLC grew its position in Crocs by 142.9% during the third quarter. Savoie Capital LLC now owns 8,500 shares of the textile maker’s stock worth $1,231,000 after buying an additional 5,000 shares during the period. Finally, ABS Direct Equity Fund LLC increased its holdings in Crocs by 66.7% in the third quarter. ABS Direct Equity Fund LLC now owns 12,500 shares of the textile maker’s stock valued at $1,810,000 after buying an additional 5,000 shares in the last quarter. Institutional investors and hedge funds 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.