Crocs (NASDAQ:CROX) Now Covered by Needham & Company LLC

Needham & Company LLC started coverage on shares of Crocs (NASDAQ:CROX) in a research note issued to investors on Friday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $116.00 price target on the textile maker’s stock. Needham & Company LLC’s price objective suggests a potential upside of 13.94% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Barclays decreased their target price on shares of Crocs from $164.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. Williams Trading upgraded shares of Crocs from a “hold” rating to a “buy” rating and lifted their price objective for the company from $135.00 to $163.00 in a research report on Thursday, August 22nd. Piper Sandler reiterated an “overweight” rating and set a $170.00 price objective on shares of Crocs in a research report on Friday, August 23rd. Guggenheim cut their target price on shares of Crocs from $182.00 to $155.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Finally, StockNews.com lowered shares of Crocs from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $148.80.

Crocs Stock Performance

CROX opened at $101.81 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 company has a market cap of $5.93 billion, a price-to-earnings ratio of 7.38, a PEG ratio of 0.99 and a beta of 2.01. The company’s 50 day moving average is $125.57 and its 200 day moving average is $135.88. Crocs has a 12-month low of $85.71 and a 12-month 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 (EPS) for the quarter, topping analysts’ consensus estimates of $3.10 by $0.50. Crocs had a net margin of 20.50% and a return on equity of 49.70%. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter last year, the firm posted $3.25 earnings per share. The firm’s revenue was up 1.6% compared to the same quarter last year. On average, equities research analysts predict that Crocs will post 12.93 EPS for the current year.

Insiders Place Their Bets

In other news, Director John B. Replogle bought 2,240 shares of Crocs stock in a transaction on Wednesday, October 30th. The stock was acquired at an average cost 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 $1,047,630.40. This trade represents a 31.71 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Susan L. Healy bought 1,000 shares of Crocs stock in a transaction on Wednesday, November 13th. The stock was purchased at an average price of $99.70 per share, with a total value of $99,700.00. Following the completion of the acquisition, the chief financial officer now directly owns 22,652 shares of the company’s stock, valued at $2,258,404.40. This represents a 4.62 % increase in their position. The disclosure for this purchase can be found here. 2.72% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Crocs

Several hedge funds have recently modified their holdings of the stock. Blair William & Co. IL purchased a new stake in Crocs in the first quarter valued at approximately $262,000. Mitsubishi UFJ Trust & Banking Corp boosted its position in Crocs by 280.8% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 4,219 shares of the textile maker’s stock valued at $615,000 after buying an additional 3,111 shares during the last quarter. Estuary Capital Management LP purchased a new stake in Crocs in the first quarter valued at approximately $4,487,000. Silvercrest Asset Management Group LLC boosted its position in Crocs by 28.6% in the first quarter. Silvercrest Asset Management Group LLC now owns 166,074 shares of the textile maker’s stock valued at $23,881,000 after buying an additional 36,948 shares during the last quarter. Finally, Bayesian Capital Management LP purchased a new stake in Crocs in the first quarter valued at approximately $212,000. Institutional investors and hedge funds 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.