StockNews.com Upgrades Crocs (NASDAQ:CROX) to Buy

Crocs (NASDAQ:CROX) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report issued on Friday.

Several other equities analysts have also recently issued reports on CROX. KeyCorp lowered their target price on shares of Crocs from $155.00 to $150.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Robert W. Baird lowered their price objective on shares of Crocs from $190.00 to $180.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. UBS Group dropped their target price 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. Guggenheim reiterated a “buy” rating and set a $155.00 target price on shares of Crocs in a research note on Friday, December 6th. Finally, Needham & Company LLC assumed coverage on Crocs in a research note on Friday, November 22nd. They issued a “buy” rating and a $116.00 price target on the stock. Four 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.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $148.80.

Crocs Price Performance

Shares of CROX opened at $110.80 on Friday. Crocs has a twelve month low of $85.71 and a twelve month high of $165.32. The company has a market capitalization of $6.46 billion, a P/E ratio of 8.03, a price-to-earnings-growth ratio of 1.14 and a beta of 1.98. The firm has a 50 day moving average of $107.82 and a 200 day moving average of $127.56. The company has a quick ratio of 0.90, a current ratio of 1.43 and a debt-to-equity ratio of 0.82.

Crocs (NASDAQ:CROX) last posted 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. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. Crocs had a return on equity of 49.70% and a net margin of 20.50%. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the company earned $3.25 EPS. As a group, equities research analysts anticipate 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 the company’s stock in a transaction on Wednesday, October 30th. The stock was acquired at an average price of $112.60 per share, with a total value of $252,224.00. Following the acquisition, the director now directly owns 9,304 shares of the company’s stock, valued at approximately $1,047,630.40. This trade represents a 31.71 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CFO Susan L. Healy acquired 1,000 shares of Crocs 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 purchase, 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 ownership of the stock. The disclosure for this purchase can be found here. 2.72% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Crocs

Institutional investors have recently modified their holdings of the stock. Davis Investment Partners LLC raised its holdings in shares of Crocs by 0.8% in the third quarter. Davis Investment Partners LLC now owns 9,673 shares of the textile maker’s stock worth $1,362,000 after buying an additional 77 shares during the period. Central Pacific Bank Trust Division grew its position in Crocs by 8.0% in the 3rd quarter. Central Pacific Bank Trust Division now owns 1,350 shares of the textile maker’s stock valued at $195,000 after acquiring an additional 100 shares during the last quarter. Covestor Ltd increased its stake in Crocs by 10.3% in the third quarter. Covestor Ltd now owns 1,225 shares of the textile maker’s stock worth $178,000 after purchasing an additional 114 shares during the period. Clear Harbor Asset Management LLC lifted its position in shares of Crocs by 4.0% during the third quarter. Clear Harbor Asset Management LLC now owns 3,014 shares of the textile maker’s stock worth $436,000 after purchasing an additional 115 shares during the last quarter. Finally, UMB Bank n.a. grew its holdings in shares of Crocs by 64.9% in the third quarter. UMB Bank n.a. now owns 305 shares of the textile maker’s stock worth $44,000 after purchasing an additional 120 shares during the last quarter. 93.44% of the stock is 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.