StockNews.com Upgrades Crocs (NASDAQ:CROX) to Buy

Crocs (NASDAQ:CROX) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

Other analysts have also issued reports about the company. Needham & Company LLC started coverage on Crocs in a report on Friday, November 22nd. They set a “buy” rating and a $116.00 price target on the stock. Barclays cut their target price on Crocs from $164.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Raymond James lowered Crocs from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. Guggenheim cut their target price on shares of Crocs from $155.00 to $150.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Finally, Monness Crespi & Hardt reduced their target price on shares of Crocs from $170.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Crocs currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.33.

Crocs Trading Up 23.9 %

Shares of NASDAQ CROX opened at $110.05 on Wednesday. The stock has a market cap of $6.41 billion, a P/E ratio of 7.98, a price-to-earnings-growth ratio of 1.67 and a beta of 1.93. Crocs has a 52-week low of $88.25 and a 52-week high of $165.32. The firm has a 50 day moving average price of $105.75 and a two-hundred day moving average price of $119.61. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.90 and a current ratio of 1.43.

Crocs (NASDAQ:CROX) last announced its quarterly earnings data on Thursday, February 13th. The textile maker reported $2.52 EPS for the quarter, topping the consensus estimate of $2.27 by $0.25. Crocs had a net margin of 20.50% and a return on equity of 49.70%. As a group, equities analysts forecast that Crocs will post 12.92 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CROX. Clear Harbor Asset Management LLC boosted its position in shares of Crocs by 3.3% in the 4th quarter. Clear Harbor Asset Management LLC now owns 3,114 shares of the textile maker’s stock worth $341,000 after purchasing an additional 100 shares in the last quarter. Covestor Ltd increased its holdings in shares of Crocs by 10.3% during the third quarter. Covestor Ltd now owns 1,225 shares of the textile maker’s stock valued at $178,000 after acquiring an additional 114 shares in the last quarter. Valmark Advisers Inc. increased its holdings in shares of Crocs by 1.8% during the fourth quarter. Valmark Advisers Inc. now owns 6,626 shares of the textile maker’s stock valued at $726,000 after acquiring an additional 117 shares in the last quarter. Manchester Capital Management LLC boosted its stake in Crocs by 9.9% in the 4th quarter. Manchester Capital Management LLC now owns 1,437 shares of the textile maker’s stock worth $157,000 after purchasing an additional 129 shares in the last quarter. Finally, V Square Quantitative Management LLC grew its position in Crocs by 83.0% during the 3rd quarter. V Square Quantitative Management LLC now owns 313 shares of the textile maker’s stock worth $45,000 after purchasing an additional 142 shares during the last quarter. 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.