Needham & Company LLC Begins Coverage on Crocs (NASDAQ:CROX)

Needham & Company LLC began coverage on shares of Crocs (NASDAQ:CROX) in a report released on Friday, Marketbeat reports. The firm issued a buy rating and a $116.00 target price on the textile maker’s stock.

Several other research analysts have also weighed in on CROX. Guggenheim lowered their price objective on Crocs from $182.00 to $155.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Robert W. Baird cut their price objective on Crocs from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Monness Crespi & Hardt reduced their price objective on shares of Crocs from $170.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. KeyCorp lowered their target price on shares of Crocs from $155.00 to $150.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Finally, Barclays reduced their price target on shares of Crocs from $164.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Crocs currently has an average rating of “Moderate Buy” and an average price target of $148.80.

Crocs Stock Up 2.3 %

NASDAQ CROX opened at $108.53 on Friday. The business’s fifty day simple moving average is $124.58 and its 200-day simple moving average is $135.52. The company has a quick ratio of 0.90, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. The firm has a market cap of $6.33 billion, a PE ratio of 7.87, a P/E/G ratio of 1.07 and a beta of 2.01. Crocs has a 52 week low of $85.71 and a 52 week high of $165.32.

Crocs (NASDAQ:CROX) last issued its earnings results on Tuesday, October 29th. The textile maker reported $3.60 EPS for the quarter, topping 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 company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the previous year, the firm earned $3.25 earnings per share. Crocs’s quarterly revenue was up 1.6% compared to the same quarter last year. As a group, equities analysts anticipate that Crocs will post 12.93 earnings per share for the current year.

Insider Buying and Selling

In other news, Director John B. Replogle purchased 2,240 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was bought at an average price of $112.60 per share, for a total transaction of $252,224.00. Following the completion of the purchase, the director now directly owns 9,304 shares of the company’s stock, valued at $1,047,630.40. The trade was a 31.71 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Susan L. Healy acquired 1,000 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was purchased at an average cost of $99.70 per share, for a total transaction of $99,700.00. Following the completion of the transaction, the chief financial officer now owns 22,652 shares in the company, valued at approximately $2,258,404.40. The trade was a 4.62 % increase in their position. The disclosure for this purchase can be found here. 2.72% of the stock is currently owned by insiders.

Institutional Trading of Crocs

A number of hedge funds and other institutional investors have recently bought and sold shares of CROX. Blair William & Co. IL acquired a new stake in shares of Crocs during the 1st quarter worth about $262,000. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Crocs by 280.8% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 4,219 shares of the textile maker’s stock worth $615,000 after buying an additional 3,111 shares during the last quarter. Estuary Capital Management LP acquired a new position in shares of Crocs in the 1st quarter valued at $4,487,000. Silvercrest Asset Management Group LLC grew its position in shares of Crocs by 28.6% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 166,074 shares of the textile maker’s stock valued at $23,881,000 after buying an additional 36,948 shares during the last quarter. Finally, Bayesian Capital Management LP acquired a new stake in Crocs during the 1st quarter worth $212,000. 93.44% of the stock is currently 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.