Crocs’ (CROX) Buy Rating Reiterated at Guggenheim

Guggenheim reissued their buy rating on shares of Crocs (NASDAQ:CROX) in a report published on Friday,Benzinga reports. Guggenheim currently has a $155.00 price target on the textile maker’s stock.

Several other research analysts have also recently weighed in on CROX. Loop Capital cut shares of Crocs from a “buy” rating to a “hold” rating and decreased their price objective for the company from $150.00 to $110.00 in a report on Thursday, November 7th. Piper Sandler reiterated an “overweight” rating and set a $170.00 target price on shares of Crocs in a research note on Friday, August 23rd. Barclays dropped their price target on Crocs from $164.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. Robert W. Baird reduced 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. Finally, Monness Crespi & Hardt dropped their target price on Crocs from $170.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Crocs presently has a consensus rating of “Moderate Buy” and an average target price of $148.80.

Crocs Stock Performance

CROX stock opened at $109.75 on Friday. The stock has a market capitalization of $6.40 billion, a PE ratio of 7.96, a price-to-earnings-growth ratio of 1.14 and a beta of 1.98. The stock’s 50 day simple moving average is $118.50 and its 200 day simple moving average is $133.34. Crocs has a 12-month low of $85.71 and a 12-month high of $165.32. The company has a current ratio of 1.43, a quick ratio of 0.90 and a debt-to-equity ratio of 0.82.

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

Insider Buying and Selling

In related news, Director John B. Replogle acquired 2,240 shares of Crocs stock in a transaction dated Wednesday, October 30th. The shares were purchased at an average price of $112.60 per share, for a total transaction of $252,224.00. Following the completion of the transaction, the director now directly owns 9,304 shares in the company, valued at approximately $1,047,630.40. This represents a 31.71 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Susan L. Healy bought 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were bought at an average price of $99.70 per share, with a total value of $99,700.00. Following the transaction, the chief financial officer now owns 22,652 shares of the company’s stock, valued at $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

Institutional investors and hedge funds have recently bought and sold shares of the stock. Financial Management Professionals Inc. grew its position in shares of Crocs by 11,200.0% during the third quarter. Financial Management Professionals Inc. now owns 226 shares of the textile maker’s stock valued at $33,000 after purchasing an additional 224 shares in the last quarter. GHP Investment Advisors Inc. boosted its stake in Crocs by 375.0% during the second quarter. GHP Investment Advisors Inc. now owns 228 shares of the textile maker’s stock valued at $33,000 after buying an additional 180 shares during the last quarter. UMB Bank n.a. grew its holdings in Crocs by 64.9% during the 3rd quarter. UMB Bank n.a. now owns 305 shares of the textile maker’s stock valued at $44,000 after buying an additional 120 shares in the last quarter. V Square Quantitative Management LLC increased its stake in Crocs by 83.0% in the 3rd quarter. V Square Quantitative Management LLC now owns 313 shares of the textile maker’s stock worth $45,000 after acquiring an additional 142 shares during the last quarter. Finally, Avior Wealth Management LLC raised its holdings in shares of Crocs by 109.5% during the 3rd quarter. Avior Wealth Management LLC now owns 398 shares of the textile maker’s stock worth $58,000 after acquiring an additional 208 shares in the last quarter. 93.44% of the stock is currently owned by institutional investors.

Crocs Company Profile

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.