Crocs (NASDAQ:CROX) Upgraded 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 published on Friday.

Several other research analysts have also commented on the stock. Bank of America boosted their price objective on shares of Crocs from $160.00 to $187.00 and gave the stock a buy rating in a research note on Thursday, June 20th. Wedbush restated an outperform rating and set a $170.00 price target on shares of Crocs in a research note on Monday, July 29th. Raymond James lowered shares of Crocs from a strong-buy rating to an outperform rating and set a $164.00 price target on the stock. in a research note on Friday, August 2nd. Monness Crespi & Hardt upped their price target on shares of Crocs from $140.00 to $170.00 and gave the company a buy rating in a research note on Wednesday, May 8th. Finally, UBS Group cut their price target on shares of Crocs from $148.00 to $146.00 and set a neutral rating on the stock in a research note on Tuesday, July 16th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $160.27.

Crocs Trading Up 1.9 %

NASDAQ CROX opened at $144.69 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.50 and a debt-to-equity ratio of 0.93. The firm has a market cap of $8.78 billion, a PE ratio of 11.20, a price-to-earnings-growth ratio of 1.45 and a beta of 2.00. The company has a 50 day moving average price of $139.50 and a 200 day moving average price of $134.33. Crocs has a 52 week low of $74.00 and a 52 week high of $165.32.

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

Insider Activity

In other news, Director Douglas J. Treff sold 10,594 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $132.38, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Douglas J. Treff sold 10,594 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $132.38, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Shannon Sisler sold 1,450 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $152.32, for a total transaction of $220,864.00. Following the completion of the sale, the executive vice president now directly owns 35,653 shares in the company, valued at $5,430,664.96. The disclosure for this sale can be found here. Insiders have sold 29,194 shares of company stock valued at $4,361,719 in the last ninety days. Insiders own 2.72% of the company’s stock.

Institutional Trading of Crocs

A number of hedge funds have recently added to or reduced their stakes in CROX. WIT Partners Advisory Pte. Ltd. purchased a new stake in Crocs during the fourth quarter worth $266,431,000. Coatue Management LLC boosted its holdings in Crocs by 836.7% during the fourth quarter. Coatue Management LLC now owns 1,029,765 shares of the textile maker’s stock worth $96,190,000 after buying an additional 919,835 shares in the last quarter. Norges Bank purchased a new stake in Crocs during the fourth quarter worth $72,211,000. Patient Capital Management LLC purchased a new stake in Crocs during the fourth quarter worth $39,420,000. Finally, Goldman Sachs Group Inc. boosted its holdings in Crocs by 46.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 770,281 shares of the textile maker’s stock worth $71,952,000 after buying an additional 245,240 shares in the last quarter. 93.44% of the stock is owned by hedge funds and other institutional investors.

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.