Crocs’ (CROX) “Overweight” Rating Reaffirmed at Piper Sandler

Crocs (NASDAQ:CROX)‘s stock had its “overweight” rating reiterated by research analysts at Piper Sandler in a report released on Friday, Benzinga reports. They currently have a $170.00 target price on the textile maker’s stock. Piper Sandler’s price objective would indicate a potential upside of 19.67% from the stock’s current price.

Several other research analysts also recently commented on CROX. Williams Trading raised shares of Crocs from a “hold” rating to a “buy” rating and lifted their target price for the stock from $135.00 to $163.00 in a research note on Thursday. Stifel Nicolaus increased their target price on shares of Crocs from $140.00 to $158.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Wedbush reiterated an “outperform” rating and issued a $170.00 price objective on shares of Crocs in a report on Monday, July 29th. Raymond James lowered Crocs from a “strong-buy” rating to an “outperform” rating and set a $164.00 price objective on the stock. in a research report on Friday, August 2nd. Finally, UBS Group decreased their target price on Crocs from $148.00 to $146.00 and set a “neutral” rating for the company in a report on Tuesday, July 16th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Crocs has an average rating of “Moderate Buy” and a consensus target price of $160.27.

Crocs Price Performance

Shares of Crocs stock opened at $142.06 on Friday. The firm has a market capitalization of $8.62 billion, a PE ratio of 11.00, a price-to-earnings-growth ratio of 1.45 and a beta of 2.00. The company has a current ratio of 1.50, a quick ratio of 1.14 and a debt-to-equity ratio of 0.93. Crocs has a 12 month low of $74.00 and a 12 month high of $165.32. The business’s 50-day moving average price is $139.83 and its 200-day moving average price is $134.28.

Crocs (NASDAQ:CROX) last announced its quarterly earnings data on Thursday, August 1st. The textile maker reported $4.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.59 by $0.42. Crocs had a net margin of 20.02% and a return on equity of 53.20%. The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the prior year, the company earned $3.59 EPS. The firm’s revenue was up 3.6% on a year-over-year basis. Sell-side analysts forecast that Crocs will post 12.73 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Douglas J. Treff sold 10,594 shares of the stock in a transaction dated 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 sale, the director now directly owns 81,254 shares of the company’s stock, valued at approximately $10,756,404.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Crocs news, Director Douglas J. Treff sold 10,594 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $132.38, for a total transaction of $1,402,433.72. Following the sale, the director now directly owns 81,254 shares in the company, valued at approximately $10,756,404.52. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John B. Replogle bought 1,996 shares of Crocs stock in a transaction on Friday, August 2nd. The stock was acquired at an average cost of $123.96 per share, with a total value of $247,424.16. Following the acquisition, the director now owns 7,064 shares in the company, valued at approximately $875,653.44. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 29,194 shares of company stock valued at $4,361,719. 2.72% of the stock is currently owned by corporate insiders.

Institutional Trading of Crocs

A number of large investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC increased its position in Crocs by 8.9% in the second quarter. Nisa Investment Advisors LLC now owns 1,041 shares of the textile maker’s stock worth $152,000 after buying an additional 85 shares in the last quarter. Riverwater Partners LLC raised its stake in Crocs by 1.0% during the 1st quarter. Riverwater Partners LLC now owns 10,725 shares of the textile maker’s stock worth $1,542,000 after acquiring an additional 104 shares during the period. 180 Wealth Advisors LLC lifted its holdings in Crocs by 1.6% during the second quarter. 180 Wealth Advisors LLC now owns 7,248 shares of the textile maker’s stock valued at $1,036,000 after purchasing an additional 111 shares in the last quarter. Quadrant Capital Group LLC boosted its position in shares of Crocs by 12.3% in the fourth quarter. Quadrant Capital Group LLC now owns 1,151 shares of the textile maker’s stock worth $108,000 after purchasing an additional 126 shares during the period. Finally, Fifth Third Bancorp increased its stake in shares of Crocs by 3.2% in the first quarter. Fifth Third Bancorp now owns 4,060 shares of the textile maker’s stock worth $584,000 after purchasing an additional 127 shares in the last quarter. 93.44% of the stock is currently owned by institutional investors.

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.