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

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

Several other brokerages have also issued reports on CROX. Robert W. Baird dropped their target price 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. KeyCorp cut their target price on shares of Crocs from $155.00 to $150.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Monness Crespi & Hardt dropped their price target on Crocs from $170.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Raymond James cut Crocs from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. Finally, UBS Group cut their target price on Crocs from $146.00 to $122.00 and set a “neutral” 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, Crocs has a consensus rating of “Moderate Buy” and a consensus target price of $148.80.

Crocs Stock Up 0.7 %

Shares of NASDAQ:CROX opened at $110.80 on Friday. The firm has a fifty day moving average price of $107.82 and a two-hundred day moving average price of $127.78. The company has a market cap of $6.46 billion, a price-to-earnings ratio of 8.03, a PEG ratio of 1.14 and a beta of 1.98. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.90. Crocs has a one year low of $85.71 and a one year high of $165.32.

Crocs (NASDAQ:CROX) last posted its earnings results 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 return on equity of 49.70% and a net margin of 20.50%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the previous year, the business earned $3.25 earnings per share. The firm’s revenue was up 1.6% on a year-over-year basis. Analysts anticipate that Crocs will post 12.93 EPS for the current fiscal year.

Insider Buying and Selling at Crocs

In related news, Director John B. Replogle purchased 2,240 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were acquired at an average price of $112.60 per share, for a total transaction of $252,224.00. Following the completion of the acquisition, the director now directly owns 9,304 shares in the company, valued at approximately $1,047,630.40. The trade was a 31.71 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Susan L. Healy acquired 1,000 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was bought at an average price of $99.70 per share, with a total value of $99,700.00. Following the completion of the acquisition, the chief financial officer now directly owns 22,652 shares in the company, valued at approximately $2,258,404.40. This represents 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 corporate insiders.

Hedge Funds Weigh In On Crocs

Several hedge funds and other institutional investors have recently modified their holdings of CROX. FMR LLC grew its stake in 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 period. State Street Corp boosted its holdings in shares of Crocs by 0.7% during the 3rd quarter. State Street Corp now owns 1,812,493 shares of the textile maker’s stock valued at $262,467,000 after buying an additional 13,467 shares in the last quarter. Pacer Advisors Inc. grew its position in shares of Crocs by 33.8% in the 3rd quarter. Pacer Advisors Inc. now owns 1,459,654 shares of the textile maker’s stock worth $211,372,000 after buying an additional 368,557 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of Crocs by 1.3% in the 2nd quarter. Thrivent Financial for Lutherans now owns 901,973 shares of the textile maker’s stock worth $131,634,000 after acquiring an additional 11,986 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Crocs by 12.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 790,225 shares of the textile maker’s stock valued at $115,322,000 after acquiring an additional 89,610 shares during the period. Hedge funds and other institutional investors own 93.44% of the company’s stock.

About Crocs

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.