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

StockNews.com upgraded shares of Crocs (NASDAQ:CROX) from a hold rating to a buy rating in a research note released on Tuesday morning.

Several other equities research analysts have also weighed in on CROX. Williams Trading raised Crocs from a “hold” rating to a “buy” rating and raised their price objective for the stock from $135.00 to $163.00 in a research note on Thursday, August 22nd. Bank of America increased their price objective on Crocs from $160.00 to $187.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. Piper Sandler restated an “overweight” rating and set a $170.00 target price on shares of Crocs in a report on Friday, August 23rd. Guggenheim assumed coverage on Crocs in a research report on Wednesday, October 9th. They issued a “buy” rating and a $182.00 price target for the company. Finally, Barclays cut their price objective on Crocs from $169.00 to $164.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $162.58.

Crocs Stock Performance

Shares of NASDAQ CROX opened at $139.40 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 1.50 and a debt-to-equity ratio of 0.93. The firm’s 50-day moving average price is $138.26 and its two-hundred day moving average price is $138.66. Crocs has a 52-week low of $74.00 and a 52-week high of $165.32. The stock has a market capitalization of $8.46 billion, a P/E ratio of 10.79, a P/E/G ratio of 1.35 and a beta of 1.99.

Crocs (NASDAQ:CROX) last issued its earnings results on Thursday, August 1st. The textile maker reported $4.01 earnings per share for the quarter, topping the consensus estimate of $3.59 by $0.42. Crocs had a return on equity of 53.20% and a net margin of 20.02%. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period last year, the company earned $3.59 earnings per share. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. As a group, sell-side analysts forecast that Crocs will post 12.88 earnings per share for the current year.

Insider Transactions at Crocs

In other news, Director Douglas J. Treff sold 10,594 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $132.38, for a total value of $1,402,433.72. Following the transaction, the director now directly owns 81,254 shares of the company’s stock, valued at $10,756,404.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director John B. Replogle bought 1,996 shares of Crocs stock in a transaction dated Friday, August 2nd. The shares were bought at an average cost of $123.96 per share, for a total transaction of $247,424.16. Following the completion of the transaction, the director now owns 7,064 shares of the company’s stock, valued at approximately $875,653.44. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Douglas J. Treff sold 10,594 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $132.38, for a total transaction of $1,402,433.72. Following the completion of the sale, the director now directly owns 81,254 shares of the company’s stock, valued at approximately $10,756,404.52. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.72% of the company’s stock.

Institutional Investors Weigh In On Crocs

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its stake in shares of Crocs by 46.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 770,281 shares of the textile maker’s stock valued at $71,952,000 after purchasing an additional 245,240 shares during the last quarter. National Bank of Canada FI raised its position in shares of Crocs by 8,437.1% during the 2nd quarter. National Bank of Canada FI now owns 182,695 shares of the textile maker’s stock valued at $26,993,000 after acquiring an additional 180,555 shares during the last quarter. Rheos Capital Works Inc. acquired a new position in shares of Crocs in the 1st quarter valued at $22,720,000. Pacer Advisors Inc. boosted its position in shares of Crocs by 15.1% in the 2nd quarter. Pacer Advisors Inc. now owns 1,091,097 shares of the textile maker’s stock worth $159,235,000 after purchasing an additional 142,944 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Crocs during the second quarter worth $19,598,000. 93.44% of the stock is owned by institutional investors and hedge funds.

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.