Crocs (NASDAQ:CROX) Price Target Raised to $187.00

Crocs (NASDAQ:CROXFree Report) had its target price upped by Bank of America from $160.00 to $187.00 in a research note published on Thursday, Benzinga reports. They currently have a buy rating on the textile maker’s stock.

A number of other brokerages have also issued reports on CROX. OTR Global upgraded shares of Crocs from a mixed rating to a positive rating in a research note on Thursday, April 11th. UBS Group upped their price target on shares of Crocs from $124.00 to $148.00 and gave the company a neutral rating in a research note on Wednesday, May 8th. Wedbush upped their price target on shares of Crocs from $156.00 to $170.00 and gave the company an outperform rating in a research note on Monday, May 13th. Stifel Nicolaus upped their price target on shares of Crocs from $140.00 to $158.00 and gave the company a buy rating in a research note on Wednesday, May 8th. Finally, Barclays upped their price target on shares of Crocs from $167.00 to $169.00 and gave the company an overweight rating in a research note on Wednesday, May 8th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Crocs has a consensus rating of Moderate Buy and a consensus price target of $154.83.

Read Our Latest Stock Analysis on Crocs

Crocs Trading Down 2.0 %

NASDAQ CROX opened at $154.74 on Thursday. The company has a quick ratio of 1.14, a current ratio of 1.76 and a debt-to-equity ratio of 1.08. The firm has a market cap of $9.39 billion, a PE ratio of 11.98, a price-to-earnings-growth ratio of 1.79 and a beta of 1.97. The company has a 50 day moving average price of $141.21 and a 200 day moving average price of $123.36. Crocs has a 52 week low of $74.00 and a 52 week high of $165.32.

Crocs (NASDAQ:CROXGet Free Report) last posted its quarterly earnings data on Tuesday, May 7th. The textile maker reported $3.02 EPS for the quarter, topping the consensus estimate of $2.25 by $0.77. The firm had revenue of $938.60 million during the quarter, compared to analyst estimates of $884.29 million. Crocs had a net margin of 19.80% and a return on equity of 56.33%. Crocs’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.61 EPS. As a group, sell-side analysts forecast that Crocs will post 12.66 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Andrew Rees sold 10,000 shares of the stock in a transaction on Monday, June 17th. The shares were sold at an average price of $160.15, for a total transaction of $1,601,500.00. Following the sale, the chief executive officer now directly owns 79,748 shares of the company’s stock, valued at $12,771,642.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Andrew Rees sold 10,000 shares of the stock in a transaction on Monday, June 17th. The shares were sold at an average price of $160.15, for a total transaction of $1,601,500.00. Following the sale, the chief executive officer now directly owns 79,748 shares of the company’s stock, valued at $12,771,642.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Anne Mehlman sold 7,150 shares of the stock in a transaction on Monday, June 17th. The stock was sold at an average price of $159.01, for a total transaction of $1,136,921.50. Following the sale, the executive vice president now directly owns 143,075 shares in the company, valued at $22,750,355.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,178 shares of company stock valued at $4,597,445. Corporate insiders own 2.72% of the company’s stock.

Hedge Funds Weigh In On Crocs

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Boston Partners purchased a new position in Crocs during the first quarter valued at $10,771,000. Second Line Capital LLC lifted its holdings in Crocs by 0.6% during the first quarter. Second Line Capital LLC now owns 29,545 shares of the textile maker’s stock valued at $4,249,000 after purchasing an additional 175 shares in the last quarter. Tidal Investments LLC lifted its holdings in Crocs by 145.8% during the first quarter. Tidal Investments LLC now owns 18,194 shares of the textile maker’s stock valued at $2,616,000 after purchasing an additional 10,791 shares in the last quarter. Motley Fool Asset Management LLC purchased a new position in Crocs during the first quarter valued at $1,413,000. Finally, Redwood Investment Management LLC purchased a new position in Crocs during the first quarter valued at $1,522,000. 93.44% of the stock is owned by hedge funds and other institutional investors.

About Crocs

(Get Free Report)

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.

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