Crocs (NASDAQ:CROX) Upgraded to “Buy” by StockNews.com

Crocs (NASDAQ:CROX) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday.

A number of other analysts also recently commented on the company. KeyCorp raised their price objective on Crocs from $149.00 to $155.00 and gave the stock an “overweight” rating in a research report on Thursday, September 26th. Barclays cut their target price on Crocs from $169.00 to $164.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Raymond James downgraded Crocs from a “strong-buy” rating to an “outperform” rating and set a $164.00 target price for the company. in a research report on Friday, August 2nd. Bank of America raised their target price on Crocs from $160.00 to $187.00 and gave the stock a “buy” rating in a research report on Thursday, June 20th. Finally, Piper Sandler restated an “overweight” rating and set a $170.00 target price on shares of Crocs in a research report on Friday, August 23rd. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $162.58.

Crocs Stock Performance

CROX opened at $139.43 on Tuesday. The firm has a market capitalization of $8.46 billion, a P/E ratio of 10.79, a price-to-earnings-growth ratio of 1.35 and a beta of 1.99. The stock’s 50 day moving average price is $137.52 and its two-hundred day moving average price is $138.75. The company has a quick ratio of 0.95, a current ratio of 1.50 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.

Crocs (NASDAQ:CROX) last announced its quarterly earnings data on Thursday, August 1st. The textile maker reported $4.01 EPS for the quarter, topping analysts’ consensus estimates of $3.59 by $0.42. Crocs had a return on equity of 53.20% and a net margin of 20.02%. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter last year, the company earned $3.59 EPS. The company’s quarterly revenue was up 3.6% on a year-over-year basis. On average, equities analysts forecast that Crocs will post 12.88 earnings per share for the current year.

Insider Activity

In other 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 value of $1,402,433.72. Following the completion of the sale, the director now directly owns 81,254 shares of the company’s stock, valued at approximately $10,756,404.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director John B. Replogle bought 1,996 shares of the stock in a transaction dated 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 purchase, the director now owns 7,064 shares of the company’s stock, valued at approximately $875,653.44. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.72% of the company’s stock.

Institutional Investors Weigh In On Crocs

A number of institutional investors have recently made changes to their positions in CROX. Goldman Sachs Group Inc. grew its stake in shares of 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 purchasing an additional 245,240 shares during the period. Mather Group LLC. acquired a new stake in shares of Crocs during the first quarter worth $255,000. Rise Advisors LLC bought a new position in Crocs during the first quarter worth about $25,000. Alaska Permanent Fund Corp lifted its holdings in Crocs by 282.2% during the first quarter. Alaska Permanent Fund Corp now owns 15,478 shares of the textile maker’s stock worth $2,226,000 after acquiring an additional 11,428 shares in the last quarter. Finally, Rheos Capital Works Inc. bought a new position in Crocs during the first quarter worth about $22,720,000. 93.44% of the stock is owned by institutional investors and hedge funds.

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.