Short Interest in Crocs, Inc. (NASDAQ:CROX) Expands By 7.4%

Crocs, Inc. (NASDAQ:CROX) saw a significant growth in short interest during the month of September. As of September 15th, there was short interest totalling 4,780,000 shares, a growth of 7.4% from the August 31st total of 4,450,000 shares. Approximately 8.4% of the shares of the company are short sold. Based on an average daily trading volume, of 1,250,000 shares, the days-to-cover ratio is presently 3.8 days.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Barclays reduced their target price on shares of Crocs from $169.00 to $164.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Wedbush restated an “outperform” rating and issued a $170.00 target price 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 target price on the stock. in a research report on Friday, August 2nd. Williams Trading upgraded Crocs from a “hold” rating to a “buy” rating and increased their price target for the company from $135.00 to $163.00 in a research report on Thursday, August 22nd. Finally, StockNews.com upgraded Crocs from a “hold” rating to a “buy” rating in a report on Friday, August 23rd. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $160.82.

Insider Buying and Selling at Crocs

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

Institutional Investors Weigh In On Crocs

Institutional investors have recently added to or reduced their stakes in the company. Coatue Management LLC boosted its position in shares of Crocs by 836.7% during the 4th quarter. Coatue Management LLC now owns 1,029,765 shares of the textile maker’s stock valued at $96,190,000 after acquiring an additional 919,835 shares in the last quarter. Patient Capital Management LLC bought a new stake in shares of Crocs in the 4th quarter valued at approximately $39,420,000. Goldman Sachs Group Inc. grew 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 period. National Bank of Canada FI lifted 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 worth $26,993,000 after buying an additional 180,555 shares during the period. Finally, Rheos Capital Works Inc. acquired a new stake in Crocs in the 1st quarter valued at $22,720,000. 93.44% of the stock is owned by institutional investors and hedge funds.

Crocs Price Performance

Shares of NASDAQ:CROX opened at $144.31 on Monday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.50 and a quick ratio of 0.95. The stock has a market capitalization of $8.76 billion, a P/E ratio of 11.17, a P/E/G ratio of 1.44 and a beta of 2.00. The business has a 50-day moving average of $135.41 and a two-hundred day moving average of $138.58. Crocs has a fifty-two week low of $74.00 and a fifty-two week high of $165.32.

Crocs (NASDAQ:CROX) last posted its earnings results 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 business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period last year, the business posted $3.59 EPS. Crocs’s revenue was up 3.6% compared to the same quarter last year. On average, equities research analysts predict that Crocs will post 12.85 EPS for the current fiscal year.

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.