Crocs (NASDAQ:CROX) Raised to “Buy” at Loop Capital

Crocs (NASDAQ:CROX) was upgraded by Loop Capital from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, MarketBeat reports. The firm currently has a $110.00 target price on the textile maker’s stock. Loop Capital’s target price would indicate a potential upside of 10.00% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on CROX. Guggenheim reduced their price target 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. Robert W. Baird reduced 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. Needham & Company LLC restated a “buy” rating and set a $129.00 price target on shares of Crocs in a research note on Thursday, February 13th. UBS Group boosted their price objective on Crocs from $122.00 to $132.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Finally, KeyCorp decreased their price objective on Crocs from $150.00 to $120.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $143.53.

Crocs Trading Down 1.8 %

CROX opened at $100.00 on Wednesday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.70 and a current ratio of 1.18. Crocs has a one year low of $88.25 and a one year high of $165.32. The company has a market cap of $5.61 billion, a P/E ratio of 6.25, a PEG ratio of 1.80 and a beta of 1.84. The business’s 50-day simple moving average is $103.14 and its 200-day simple moving average is $115.62.

Crocs (NASDAQ:CROX) last announced 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 23.16% and a return on equity of 46.27%. As a group, equities research analysts expect that Crocs will post 13.2 EPS for the current fiscal year.

Insider Activity at Crocs

In other news, EVP Shannon Sisler sold 4,659 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $109.75, for a total transaction of $511,325.25. Following the completion of the transaction, the executive vice president now directly owns 29,299 shares of the company’s stock, valued at approximately $3,215,565.25. This represents a 13.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Adam Michaels sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $106.69, for a total value of $1,600,350.00. Following the completion of the sale, the executive vice president now directly owns 89,323 shares of the company’s stock, valued at $9,529,870.87. This represents a 14.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.72% of the stock is owned by insiders.

Hedge Funds Weigh In On Crocs

Institutional investors and hedge funds have recently made changes to their positions in the stock. Sigma Planning Corp boosted its holdings in Crocs by 36.7% during the third quarter. Sigma Planning Corp now owns 7,099 shares of the textile maker’s stock worth $1,028,000 after buying an additional 1,906 shares in the last quarter. Versor Investments LP purchased a new stake in shares of Crocs during the 3rd quarter worth approximately $405,000. Entropy Technologies LP purchased a new stake in shares of Crocs during the 3rd quarter worth approximately $887,000. Victory Capital Management Inc. grew its holdings in shares of Crocs by 40.2% in the 3rd quarter. Victory Capital Management Inc. now owns 20,907 shares of the textile maker’s stock worth $3,028,000 after acquiring an additional 5,995 shares during the period. Finally, Oppenheimer & Co. Inc. increased its stake in Crocs by 16.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 12,374 shares of the textile maker’s stock valued at $1,792,000 after purchasing an additional 1,724 shares in the last quarter. 93.44% of the stock is owned by institutional investors and hedge funds.

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.