Guggenheim Reaffirms Buy Rating for Crocs (NASDAQ:CROX)

Guggenheim reiterated their buy rating on shares of Crocs (NASDAQ:CROX) in a research note published on Friday morning,Benzinga reports. The firm currently has a $155.00 price objective on the textile maker’s stock.

Other equities research analysts have also issued reports about the company. Needham & Company LLC assumed coverage on Crocs in a research note on Friday, November 22nd. They set a “buy” rating and a $116.00 price target for the company. Loop Capital cut shares of Crocs from a “buy” rating to a “hold” rating and cut their price target for the stock from $150.00 to $110.00 in a report on Thursday, November 7th. Barclays decreased their price objective on shares of Crocs from $164.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. Williams Trading upgraded shares of Crocs from a “hold” rating to a “buy” rating and upped their target price for the stock from $135.00 to $163.00 in a research note on Thursday, August 22nd. Finally, KeyCorp decreased their price target 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. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $148.80.

Crocs Stock Performance

NASDAQ CROX opened at $109.75 on Friday. The business’s 50 day moving average price is $118.50 and its 200-day moving average price is $133.34. Crocs has a fifty-two week low of $85.71 and a fifty-two week high of $165.32. The company has a market cap of $6.40 billion, a P/E ratio of 7.96, a P/E/G ratio of 1.14 and a beta of 1.98. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.90 and a current ratio of 1.43.

Crocs (NASDAQ:CROX) last posted its quarterly earnings data on Tuesday, October 29th. The textile maker reported $3.60 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates 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. Sell-side analysts predict that Crocs will post 12.93 earnings per share for the current year.

Insider Activity at Crocs

In other Crocs news, CFO Susan L. Healy acquired 1,000 shares of the stock in a transaction dated Wednesday, November 13th. The stock was purchased 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 directly owns 22,652 shares of the company’s stock, valued at $2,258,404.40. This trade represents a 4.62 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John B. Replogle bought 2,240 shares of Crocs stock in a transaction that occurred on Wednesday, October 30th. The shares were acquired at an average cost 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 $1,047,630.40. This represents a 31.71 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.72% of the stock is owned by corporate insiders.

Institutional Trading of Crocs

A number of institutional investors have recently bought and sold shares of the stock. FMR LLC increased its holdings 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 valued at $1,289,908,000 after purchasing an additional 406,287 shares during the period. Pacer Advisors Inc. boosted its position in Crocs by 33.8% in the third quarter. Pacer Advisors Inc. now owns 1,459,654 shares of the textile maker’s stock valued at $211,372,000 after buying an additional 368,557 shares during the last quarter. National Bank of Canada FI increased its holdings in Crocs by 8,437.1% in the 2nd quarter. National Bank of Canada FI now owns 182,695 shares of the textile maker’s stock worth $26,993,000 after buying an additional 180,555 shares during the period. Marshall Wace LLP purchased a new position in Crocs during the 2nd quarter worth approximately $19,598,000. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new stake in Crocs during the 3rd quarter valued at approximately $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.