Seaport Res Ptn Has Bullish Estimate for Crocs Q3 Earnings

Crocs, Inc. (NASDAQ:CROX) – Investment analysts at Seaport Res Ptn lifted their Q3 2024 earnings per share (EPS) estimates for shares of Crocs in a report released on Tuesday, October 22nd. Seaport Res Ptn analyst M. Kummetz now anticipates that the textile maker will post earnings per share of $3.15 for the quarter, up from their previous estimate of $3.10. The consensus estimate for Crocs’ current full-year earnings is $12.88 per share.

Crocs (NASDAQ:CROX) last issued its earnings results on Thursday, August 1st. The textile maker reported $4.01 EPS for the quarter, topping analysts’ consensus estimates of $3.59 by $0.42. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.10 billion. Crocs had a return on equity of 53.20% and a net margin of 20.02%. The company’s revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.59 earnings per share.

Several other research firms have also commented on CROX. Barclays dropped their price target on shares of Crocs from $169.00 to $164.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Guggenheim initiated coverage on Crocs in a research note on Wednesday, October 9th. They issued a “buy” rating and a $182.00 price target for the company. Wedbush reiterated an “outperform” rating and set a $170.00 price target on shares of Crocs in a research report on Monday, July 29th. Piper Sandler restated an “overweight” rating and issued a $170.00 price objective on shares of Crocs in a research report on Friday, August 23rd. Finally, UBS Group decreased their target price on Crocs from $148.00 to $146.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 16th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $162.58.

Crocs Price Performance

Shares of NASDAQ CROX opened at $133.75 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.50 and a quick ratio of 0.95. The firm’s 50 day simple moving average is $138.18 and its 200-day simple moving average is $138.55. Crocs has a 12 month low of $74.00 and a 12 month high of $165.32. The stock has a market capitalization of $8.12 billion, a price-to-earnings ratio of 10.35, a PEG ratio of 1.35 and a beta of 1.99.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Pinnacle Associates Ltd. grew its position in Crocs by 1,166.3% in the 3rd quarter. Pinnacle Associates Ltd. now owns 36,407 shares of the textile maker’s stock valued at $5,272,000 after acquiring an additional 33,532 shares in the last quarter. Integrated Advisors Network LLC increased its stake in Crocs by 6.6% in the third quarter. Integrated Advisors Network LLC now owns 3,569 shares of the textile maker’s stock valued at $517,000 after purchasing an additional 221 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in Crocs by 3.6% during the third quarter. State of Alaska Department of Revenue now owns 9,433 shares of the textile maker’s stock worth $1,365,000 after purchasing an additional 330 shares in the last quarter. Financial Management Professionals Inc. lifted its position in shares of Crocs by 11,200.0% during the 3rd quarter. Financial Management Professionals Inc. now owns 226 shares of the textile maker’s stock worth $33,000 after buying an additional 224 shares during the last quarter. Finally, Clear Harbor Asset Management LLC boosted its holdings in shares of Crocs by 4.0% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 3,014 shares of the textile maker’s stock valued at $436,000 after buying an additional 115 shares in the last quarter. 93.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Crocs

In related news, Director John B. Replogle purchased 1,996 shares of Crocs stock in a transaction dated Friday, August 2nd. The shares were acquired at an average price of $123.96 per share, for a total transaction of $247,424.16. Following the acquisition, the director now directly owns 7,064 shares in the company, valued at approximately $875,653.44. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Crocs news, Director John B. Replogle acquired 1,996 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was purchased at an average cost of $123.96 per share, with a total value of $247,424.16. Following the transaction, the director now owns 7,064 shares of the company’s stock, valued at $875,653.44. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Douglas J. Treff sold 10,594 shares of Crocs stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $132.38, for a total transaction of $1,402,433.72. Following the sale, the director now owns 81,254 shares of the company’s stock, valued at approximately $10,756,404.52. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.72% of the stock is owned by company insiders.

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.