Crocs (NASDAQ:CROX) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Crocs (NASDAQ:CROX) from a hold rating to a buy rating in a report published on Friday morning.

Several other analysts also recently commented on the stock. KeyCorp reduced their price objective on shares of Crocs from $155.00 to $150.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Guggenheim reaffirmed a “buy” rating and issued a $155.00 price target on shares of Crocs in a research note on Friday, December 6th. Monness Crespi & Hardt decreased their target price on Crocs from $170.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Needham & Company LLC initiated coverage on Crocs in a report on Friday, November 22nd. They issued a “buy” rating and a $116.00 price target on the stock. Finally, Robert W. Baird decreased their price objective on Crocs from $190.00 to $180.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $148.80.

Crocs Stock Performance

Shares of CROX stock opened at $110.80 on Friday. The stock has a market capitalization of $6.46 billion, a PE ratio of 8.03, a PEG ratio of 1.14 and a beta of 1.98. The business’s 50 day simple moving average is $107.82 and its 200 day simple moving average is $127.78. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.90. Crocs has a one year low of $85.71 and a one year high of $165.32.

Crocs (NASDAQ:CROX) last posted its quarterly earnings data on Tuesday, October 29th. The textile maker reported $3.60 earnings per share for the quarter, topping the consensus estimate of $3.10 by $0.50. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Crocs had a net margin of 20.50% and a return on equity of 49.70%. Crocs’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the prior year, the company posted $3.25 earnings per share. As a group, research analysts forecast that Crocs will post 12.93 earnings per share for the current year.

Insider Transactions at Crocs

In related news, Director John B. Replogle acquired 2,240 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was acquired at an average price of $112.60 per share, for a total transaction of $252,224.00. Following the completion of the acquisition, the director now owns 9,304 shares of the company’s stock, valued at approximately $1,047,630.40. This represents a 31.71 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Susan L. Healy bought 1,000 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was bought at an average price of $99.70 per share, for a total transaction of $99,700.00. Following the completion of the purchase, 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. Company insiders own 2.72% of the company’s stock.

Institutional Investors Weigh In On Crocs

A number of hedge funds have recently modified their holdings of CROX. Natixis Advisors LLC purchased a new position in shares of Crocs during the 2nd quarter valued at $1,523,000. National Bank of Canada FI boosted its position in Crocs by 8,437.1% during the second quarter. National Bank of Canada FI now owns 182,695 shares of the textile maker’s stock worth $26,993,000 after purchasing an additional 180,555 shares during the period. Arizona State Retirement System raised its position in shares of Crocs by 1.8% in the second quarter. Arizona State Retirement System now owns 16,937 shares of the textile maker’s stock valued at $2,472,000 after purchasing an additional 292 shares during the period. Fluent Financial LLC purchased a new position in Crocs in the 2nd quarter valued at approximately $569,000. Finally, Wedbush Securities Inc. raised its holdings in Crocs by 17.1% during the 2nd quarter. Wedbush Securities Inc. now owns 3,693 shares of the textile maker’s stock valued at $539,000 after acquiring an additional 540 shares during the period. 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.