Crocs (NASDAQ:CROX) Stock Price Expected to Rise, Bank of America Analyst Says

Crocs (NASDAQ:CROX) had its price target boosted by equities researchers at Bank of America from $144.00 to $153.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the textile maker’s stock. Bank of America‘s price target would indicate a potential upside of 41.10% from the stock’s previous close.

Other research analysts have also issued reports about the company. Raymond James lowered Crocs from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. Guggenheim reduced their target price on shares of Crocs from $155.00 to $150.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Needham & Company LLC reiterated a “buy” rating and set a $129.00 price objective on shares of Crocs in a research note on Thursday. KeyCorp cut their price target on shares of Crocs from $150.00 to $120.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Finally, Robert W. Baird decreased their price objective on Crocs from $180.00 to $150.00 and set an “outperform” rating for the company in a report on Monday, February 10th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $142.87.

Crocs Stock Performance

Shares of Crocs stock opened at $108.43 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. The stock’s fifty day moving average price is $105.73 and its 200-day moving average price is $119.35. The firm has a market cap of $6.32 billion, a P/E ratio of 7.86, a P/E/G ratio of 1.67 and a beta of 1.93. Crocs has a 12 month low of $88.25 and a 12 month high of $165.32.

Crocs (NASDAQ:CROX) last posted its quarterly earnings results on Thursday, February 13th. The textile maker reported $2.52 EPS for the quarter, beating 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%. On average, equities research analysts expect that Crocs will post 12.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. FMR LLC increased its holdings in shares of Crocs by 4.8% during the 3rd quarter. FMR LLC now owns 8,907,591 shares of the textile maker’s stock valued at $1,289,908,000 after purchasing an additional 406,287 shares in the last quarter. Vanguard Group Inc. boosted its position in Crocs by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 5,477,574 shares of the textile maker’s stock worth $599,959,000 after purchasing an additional 47,576 shares in the last quarter. Pacer Advisors Inc. grew its holdings in Crocs by 39.6% in the fourth quarter. Pacer Advisors Inc. now owns 2,037,121 shares of the textile maker’s stock valued at $223,126,000 after purchasing an additional 577,467 shares during the period. State Street Corp increased its position in shares of Crocs by 0.7% in the third quarter. State Street Corp now owns 1,812,493 shares of the textile maker’s stock valued at $262,467,000 after buying an additional 13,467 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Crocs by 1,516.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,326,564 shares of the textile maker’s stock valued at $145,299,000 after buying an additional 1,244,480 shares in the last quarter. 93.44% of the stock is currently owned by hedge funds and other institutional investors.

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.