Needham & Company LLC Reaffirms Buy Rating for Crocs (NASDAQ:CROX)

Crocs (NASDAQ:CROX)‘s stock had its “buy” rating reaffirmed by Needham & Company LLC in a research note issued on Thursday,Benzinga reports. They presently have a $129.00 price target on the textile maker’s stock. Needham & Company LLC’s price target indicates a potential upside of 18.97% from the company’s current price.

A number of other brokerages have also weighed in on CROX. Monness Crespi & Hardt dropped 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. StockNews.com upgraded Crocs from a “hold” rating to a “buy” rating in a research note on Wednesday. Barclays dropped their price target on 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 downgraded Crocs from a “buy” rating to a “hold” rating and decreased their target price for the stock from $150.00 to $110.00 in a report on Thursday, November 7th. Finally, Robert W. Baird decreased their target price on Crocs from $180.00 to $150.00 and set an “outperform” rating for the company in a report on Monday, February 10th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Crocs currently has a consensus rating of “Moderate Buy” and an average price target of $142.87.

Crocs Price Performance

CROX opened at $108.43 on Thursday. The business’s 50-day moving average is $105.73 and its two-hundred day moving average is $119.44. Crocs has a 1 year low of $88.25 and a 1 year high of $165.32. 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 firm has a market capitalization of $6.32 billion, a PE ratio of 7.86, a price-to-earnings-growth ratio of 1.67 and a beta of 1.93.

Crocs (NASDAQ:CROX) last posted its earnings results on Thursday, February 13th. The textile maker reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.25. Crocs had a return on equity of 49.70% and a net margin of 20.50%. Research analysts anticipate that Crocs will post 12.92 earnings per share for the current fiscal year.

Institutional Trading of Crocs

Institutional investors and hedge funds have recently made changes to their positions in the business. Clear Harbor Asset Management LLC lifted its stake 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 valued at $341,000 after purchasing an additional 100 shares during the last quarter. Covestor Ltd lifted its stake in shares of Crocs by 10.3% in 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 last quarter. Valmark Advisers Inc. lifted its stake in shares of Crocs by 1.8% in the 4th quarter. Valmark Advisers Inc. now owns 6,626 shares of the textile maker’s stock valued at $726,000 after purchasing an additional 117 shares during the last quarter. Manchester Capital Management LLC lifted its stake in shares of Crocs by 9.9% in the 4th quarter. Manchester Capital Management LLC now owns 1,437 shares of the textile maker’s stock valued at $157,000 after purchasing an additional 129 shares during the last quarter. Finally, V Square Quantitative Management LLC lifted its stake in shares of Crocs by 83.0% in the 3rd quarter. V Square Quantitative Management LLC now owns 313 shares of the textile maker’s stock valued at $45,000 after purchasing an additional 142 shares during the last quarter. 93.44% of the stock is currently owned by hedge funds and other institutional investors.

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.