Crocs (NASDAQ:CROX) Earns “Buy” Rating from Guggenheim

Crocs (NASDAQ:CROX)‘s stock had its “buy” rating restated by equities researchers at Guggenheim in a report issued on Friday,Benzinga reports. They presently have a $155.00 price target on the textile maker’s stock. Guggenheim’s target price suggests a potential upside of 41.23% from the stock’s current price.

A number of other research analysts also recently weighed in on CROX. KeyCorp lowered their price objective on shares of Crocs from $155.00 to $150.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. StockNews.com raised Crocs from a “hold” rating to a “buy” rating in a report on Wednesday. Williams Trading raised Crocs from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $135.00 to $163.00 in a report on Thursday, August 22nd. Robert W. Baird lowered their target price on Crocs from $190.00 to $180.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Finally, Barclays cut their price target on 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 assigned a buy rating to the company. According to data from MarketBeat.com, Crocs presently has an average rating of “Moderate Buy” and an average price target of $148.80.

Crocs Stock Performance

CROX stock opened at $109.75 on Friday. The stock’s 50 day simple moving average is $118.50 and its 200 day simple moving average is $133.40. 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 12-month low of $85.71 and a 12-month high of $165.32. The stock has a market capitalization of $6.40 billion, a PE ratio of 7.96, a price-to-earnings-growth ratio of 1.14 and a beta of 1.98.

Crocs (NASDAQ:CROX) last announced 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 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 period in the prior year, the company posted $3.25 earnings per share. The company’s quarterly revenue was up 1.6% on a year-over-year basis. As a group, research analysts forecast that Crocs will post 12.93 earnings per share for the current fiscal year.

Insider Activity at Crocs

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Franklin Resources Inc. boosted its stake in Crocs by 31.1% during the third quarter. Franklin Resources Inc. now owns 46,600 shares of the textile maker’s stock valued at $6,497,000 after buying an additional 11,056 shares during the last quarter. Tidal Investments LLC grew its holdings in shares of Crocs by 64.5% in the third quarter. Tidal Investments LLC now owns 21,674 shares of the textile maker’s stock valued at $3,139,000 after purchasing an additional 8,498 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Crocs in the third quarter worth $73,000. World Investment Advisors LLC purchased a new stake in Crocs during the third quarter valued at $211,000. Finally, TD Private Client Wealth LLC lifted its position in Crocs by 21.0% during the third quarter. TD Private Client Wealth LLC now owns 1,245 shares of the textile maker’s stock valued at $180,000 after purchasing an additional 216 shares during the last quarter. Hedge funds and other institutional investors own 93.44% of the company’s stock.

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.