KeyCorp Weighs in on Crocs’ FY2024 Earnings (NASDAQ:CROX)

Crocs, Inc. (NASDAQ:CROX) – Investment analysts at KeyCorp issued their FY2024 earnings per share estimates for shares of Crocs in a research report issued on Wednesday, January 22nd. KeyCorp analyst A. Owens expects that the textile maker will earn $12.91 per share for the year. KeyCorp has a “Overweight” rating and a $120.00 price target on the stock. The consensus estimate for Crocs’ current full-year earnings is $12.93 per share. KeyCorp also issued estimates for Crocs’ Q4 2024 earnings at $2.26 EPS and FY2025 earnings at $12.92 EPS.

A number of other research firms have also weighed in on CROX. Needham & Company LLC initiated coverage on Crocs in a research report on Friday, November 22nd. They set a “buy” rating and a $116.00 price objective on the stock. Guggenheim reissued a “buy” rating and set a $155.00 target price on shares of Crocs in a research note on Friday, December 6th. Loop Capital lowered Crocs from a “buy” rating to a “hold” rating and reduced their price target for the company from $150.00 to $110.00 in a research report on Thursday, November 7th. Raymond James downgraded Crocs from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. Finally, StockNews.com lowered shares of Crocs from a “buy” rating to a “hold” rating in a research note on Saturday, January 11th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $146.80.

Crocs Price Performance

Shares of CROX opened at $102.42 on Monday. The company has a market cap of $5.97 billion, a P/E ratio of 7.43, a PEG ratio of 1.79 and a beta of 1.95. Crocs has a fifty-two week low of $94.50 and a fifty-two week high of $165.32. The company has a quick ratio of 0.90, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. The firm’s 50 day moving average price is $107.79 and its 200 day moving average price is $122.58.

Crocs (NASDAQ:CROX) last posted its quarterly earnings data on Tuesday, October 29th. The textile maker reported $3.60 EPS for the quarter, beating the consensus estimate 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 net margin of 20.50% and a return on equity of 49.70%. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter last year, the firm posted $3.25 earnings per share.

Hedge Funds Weigh In On Crocs

A number of hedge funds have recently modified their holdings of the business. Crossmark Global Holdings Inc. boosted its stake in Crocs by 55.8% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 40,192 shares of the textile maker’s stock worth $5,820,000 after purchasing an additional 14,387 shares during the period. Meeder Asset Management Inc. raised its holdings in shares of Crocs by 585.5% in the third quarter. Meeder Asset Management Inc. now owns 24,349 shares of the textile maker’s stock valued at $3,526,000 after buying an additional 20,797 shares during the last quarter. Catalyst Capital Advisors LLC raised its holdings in shares of Crocs by 2,775.6% in the third quarter. Catalyst Capital Advisors LLC now owns 7,908 shares of the textile maker’s stock valued at $1,145,000 after buying an additional 7,633 shares during the last quarter. Aigen Investment Management LP acquired a new stake in shares of Crocs during the third quarter worth about $2,024,000. Finally, International Assets Investment Management LLC purchased a new position in shares of Crocs during the third quarter worth about $2,076,000. 93.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Susan L. Healy bought 1,000 shares of Crocs stock in a transaction dated Wednesday, November 13th. The stock was acquired at an average cost of $99.70 per share, with a total value of $99,700.00. Following the acquisition, the chief financial officer now owns 22,652 shares of the company’s stock, valued at approximately $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 is accessible through this link. Also, Director John B. Replogle bought 2,240 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was purchased at an average cost of $112.60 per share, with a total value of $252,224.00. Following the completion of the transaction, the director now owns 9,304 shares in the company, valued at approximately $1,047,630.40. This trade represents a 31.71 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 2.72% of the company’s stock.

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.