Crocs (NASDAQ:CROX) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of Crocs (NASDAQ:CROX) from a hold rating to a buy rating in a report issued on Wednesday.

A number of other equities research analysts have also recently issued reports on the company. Monness Crespi & Hardt reduced their price objective on Crocs from $170.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Williams Trading upgraded shares of Crocs from a “hold” rating to a “buy” rating and lifted their price target for the company from $135.00 to $163.00 in a research report on Thursday, August 22nd. Raymond James downgraded shares of Crocs from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. Robert W. Baird dropped their price target on shares of Crocs from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Finally, Barclays dropped their price target on shares of Crocs from $164.00 to $125.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $148.80.

Crocs Trading Up 1.8 %

Shares of NASDAQ:CROX opened at $113.28 on Wednesday. Crocs has a 12-month low of $85.71 and a 12-month high of $165.32. The stock has a market cap of $6.60 billion, a PE ratio of 8.21, a P/E/G ratio of 1.11 and a beta of 1.98. The business has a 50 day moving average of $120.54 and a 200-day moving average of $133.99. 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 issued its quarterly earnings data on Tuesday, October 29th. The textile maker reported $3.60 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the previous year, the company posted $3.25 earnings per share. The business’s revenue was up 1.6% on a year-over-year basis. As a group, equities research analysts forecast that Crocs will post 12.93 earnings per share for the current year.

Insider Transactions at Crocs

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CROX. FMR LLC grew its stake in shares of Crocs by 4.8% in the third quarter. FMR LLC now owns 8,907,591 shares of the textile maker’s stock worth $1,289,908,000 after purchasing an additional 406,287 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of Crocs by 33.8% in the third quarter. Pacer Advisors Inc. now owns 1,459,654 shares of the textile maker’s stock worth $211,372,000 after purchasing an additional 368,557 shares during the last quarter. National Bank of Canada FI grew its stake in shares of Crocs by 8,437.1% in the second quarter. National Bank of Canada FI now owns 182,695 shares of the textile maker’s stock worth $26,993,000 after purchasing an additional 180,555 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Crocs in the second quarter worth $19,598,000. Finally, Caisse DE Depot ET Placement DU Quebec bought a new stake in shares of Crocs in the third quarter worth $17,122,000. 93.44% of the stock is currently owned by institutional investors and hedge funds.

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.