Crocs (NASDAQ:CROX) Raised to Buy at StockNews.com

Crocs (NASDAQ:CROX) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

Other equities analysts also recently issued reports about the stock. Piper Sandler restated an “overweight” rating and set a $170.00 target price on shares of Crocs in a report on Friday, August 23rd. UBS Group dropped their target price on Crocs from $146.00 to $122.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Guggenheim dropped their price objective on Crocs from $182.00 to $155.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. KeyCorp dropped their target price on shares of Crocs from $155.00 to $150.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Finally, Raymond James cut shares of Crocs from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $148.80.

Crocs Stock Down 3.0 %

Shares of Crocs stock opened at $109.91 on Wednesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.90. The business has a 50-day moving average of $119.94 and a two-hundred day moving average of $133.84. Crocs has a 1 year low of $85.71 and a 1 year high of $165.32. The company has a market capitalization of $6.41 billion, a P/E ratio of 8.21, a price-to-earnings-growth ratio of 1.12 and a beta of 1.98.

Crocs (NASDAQ:CROX) last released its quarterly earnings results on Tuesday, October 29th. The textile maker reported $3.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.10 by $0.50. Crocs had a return on equity of 49.70% and a net margin of 20.50%. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter last year, the business posted $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 predict that Crocs will post 12.93 EPS for the current year.

Insider Activity

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

Institutional Investors Weigh In On Crocs

Large investors have recently added to or reduced their stakes in the stock. Davis Investment Partners LLC boosted its position in Crocs by 0.8% in the third quarter. Davis Investment Partners LLC now owns 9,673 shares of the textile maker’s stock worth $1,362,000 after purchasing an additional 77 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in Crocs by 8.9% during the second quarter. Nisa Investment Advisors LLC now owns 1,041 shares of the textile maker’s stock valued at $152,000 after purchasing an additional 85 shares in the last quarter. Central Pacific Bank Trust Division increased its stake in Crocs by 8.0% in the 3rd quarter. Central Pacific Bank Trust Division now owns 1,350 shares of the textile maker’s stock worth $195,000 after buying an additional 100 shares in the last quarter. 180 Wealth Advisors LLC grew its position in shares of Crocs by 1.6% during the second quarter. 180 Wealth Advisors LLC now owns 7,248 shares of the textile maker’s stock worth $1,036,000 after purchasing an additional 111 shares in the last quarter. Finally, Covestor Ltd raised its stake in Crocs by 10.3% during the 3rd quarter. Covestor Ltd now owns 1,225 shares of the textile maker’s stock valued at $178,000 after purchasing an additional 114 shares during the period. 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.