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 released on Wednesday morning.

Other equities analysts have also issued research reports about the stock. UBS Group dropped their price objective on shares of Crocs from $146.00 to $122.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. Williams Trading upgraded shares of Crocs from a “hold” rating to a “buy” rating and upped their target price for the stock from $135.00 to $163.00 in a report on Thursday, August 22nd. Barclays lowered their target price on shares of Crocs from $164.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. Robert W. Baird lowered their target price on shares of Crocs from $190.00 to $180.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Finally, Guggenheim lowered their target price on shares of Crocs from $182.00 to $155.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Crocs presently has an average rating of “Moderate Buy” and a consensus target price of $148.80.

Crocs Stock Performance

Shares of CROX opened at $113.28 on Wednesday. The company has a current ratio of 1.43, a quick ratio of 0.90 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $6.60 billion, a P/E ratio of 8.21, a price-to-earnings-growth ratio of 1.11 and a beta of 1.98. The firm’s fifty day simple moving average is $120.54 and its two-hundred day simple moving average is $133.99. Crocs has a 12 month low of $85.71 and a 12 month high of $165.32.

Crocs (NASDAQ:CROX) last issued its quarterly earnings results on Tuesday, October 29th. The textile maker reported $3.60 EPS for the quarter, beating analysts’ consensus estimates of $3.10 by $0.50. Crocs had a net margin of 20.50% and a return on equity of 49.70%. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the prior year, the firm posted $3.25 earnings per share. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. As a group, analysts predict that Crocs will post 12.93 EPS for the current year.

Insider Buying and Selling

In other news, CFO Susan L. Healy purchased 1,000 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was purchased at an average cost of $99.70 per share, with a total value of $99,700.00. Following the acquisition, the chief financial officer now directly owns 22,652 shares in the company, valued at approximately $2,258,404.40. This trade represents a 4.62 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John B. Replogle purchased 2,240 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was purchased at an average cost of $112.60 per share, with a total value of $252,224.00. Following the completion of the acquisition, the director now owns 9,304 shares in the company, valued at approximately $1,047,630.40. This trade represents a 31.71 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.72% of the stock is owned by insiders.

Institutional Trading of Crocs

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Davis Investment Partners LLC raised its position in shares of Crocs by 0.8% during the 3rd quarter. Davis Investment Partners LLC now owns 9,673 shares of the textile maker’s stock valued at $1,362,000 after buying an additional 77 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of Crocs by 8.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,041 shares of the textile maker’s stock valued at $152,000 after buying an additional 85 shares in the last quarter. Central Pacific Bank Trust Division raised its position in shares of Crocs by 8.0% during the 3rd quarter. Central Pacific Bank Trust Division now owns 1,350 shares of the textile maker’s stock valued at $195,000 after buying an additional 100 shares in the last quarter. 180 Wealth Advisors LLC raised its position in shares of Crocs by 1.6% during the 2nd quarter. 180 Wealth Advisors LLC now owns 7,248 shares of the textile maker’s stock valued at $1,036,000 after buying an additional 111 shares in the last quarter. Finally, Covestor Ltd raised its position in shares of Crocs by 10.3% during the 3rd quarter. Covestor Ltd now owns 1,225 shares of the textile maker’s stock valued at $178,000 after buying an additional 114 shares in the last quarter. 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.