Crocs (NASDAQ:CROX) PT Raised to $187.00 at Bank of America

Crocs (NASDAQ:CROX) had its price target upped by Bank of America from $160.00 to $187.00 in a report published on Thursday, Benzinga reports. The firm currently has a buy rating on the textile maker’s stock.

A number of other research analysts have also recently commented on the company. KeyCorp upped their price target on Crocs from $130.00 to $149.00 and gave the stock an overweight rating in a research note on Thursday, March 21st. Stifel Nicolaus increased their price objective on Crocs from $140.00 to $158.00 and gave the company a buy rating in a research note on Wednesday, May 8th. Monness Crespi & Hardt increased their price objective on Crocs from $140.00 to $170.00 and gave the company a buy rating in a research note on Wednesday, May 8th. OTR Global upgraded Crocs from a mixed rating to a positive rating in a research note on Thursday, April 11th. Finally, UBS Group increased their price objective on Crocs from $124.00 to $148.00 and gave the company a neutral rating in a research note on Wednesday, May 8th. Four 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 stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $154.83.

Crocs Stock Down 1.0 %

NASDAQ:CROX opened at $157.85 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 stock’s fifty day moving average is $140.62 and its two-hundred day moving average is $122.87. Crocs has a 52 week low of $74.00 and a 52 week high of $165.32. The stock has a market capitalization of $9.58 billion, a price-to-earnings ratio of 12.22, a price-to-earnings-growth ratio of 1.80 and a beta of 1.97.

Crocs (NASDAQ:CROX) last released its quarterly earnings results on Tuesday, May 7th. The textile maker reported $3.02 EPS for the quarter, topping analysts’ consensus estimates of $2.25 by $0.77. Crocs had a return on equity of 56.33% and a net margin of 19.80%. The company had revenue of $938.60 million for the quarter, compared to analysts’ expectations of $884.29 million. During the same period in the prior year, the firm earned $2.61 earnings per share. The firm’s revenue was up 6.2% compared to the same quarter last year. Research analysts anticipate that Crocs will post 12.66 EPS for the current year.

Insiders Place Their Bets

In other Crocs news, CEO Andrew Rees sold 10,000 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $160.15, for a total transaction of $1,601,500.00. Following the transaction, the chief executive officer now owns 79,748 shares of the company’s stock, valued at $12,771,642.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Crocs news, CEO Andrew Rees sold 10,000 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $160.15, for a total transaction of $1,601,500.00. Following the transaction, the chief executive officer now owns 79,748 shares of the company’s stock, valued at $12,771,642.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Anne Mehlman sold 7,150 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $159.01, for a total value of $1,136,921.50. Following the transaction, the executive vice president now directly owns 143,075 shares in the company, valued at approximately $22,750,355.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,178 shares of company stock valued at $4,597,445. 2.72% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Crocs

Hedge funds and other institutional investors have recently made changes to their positions in the stock. V Square Quantitative Management LLC purchased a new position in shares of Crocs during the first quarter worth about $25,000. Rise Advisors LLC purchased a new position in shares of Crocs during the first quarter worth about $25,000. Byrne Asset Management LLC grew its holdings in shares of Crocs by 60.0% during the fourth quarter. Byrne Asset Management LLC now owns 320 shares of the textile maker’s stock worth $30,000 after buying an additional 120 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Crocs by 185.0% during the fourth quarter. Blue Trust Inc. now owns 342 shares of the textile maker’s stock worth $32,000 after buying an additional 222 shares during the last quarter. Finally, Quest Partners LLC purchased a new position in shares of Crocs during the fourth quarter worth about $53,000. Hedge funds and other institutional investors own 93.44% of the company’s stock.

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.