Crocs (NASDAQ:CROX) Coverage Initiated by Analysts at Guggenheim

Guggenheim initiated coverage on shares of Crocs (NASDAQ:CROX) in a research report report published on Wednesday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $182.00 price objective on the textile maker’s stock.

A number of other equities research analysts have also weighed in on the stock. Bank of America boosted their price objective on shares of Crocs from $160.00 to $187.00 and gave the stock a buy rating in a report on Thursday, June 20th. Wedbush restated an outperform rating and set a $170.00 price target on shares of Crocs in a research report on Monday, July 29th. KeyCorp lifted their price objective on Crocs from $149.00 to $155.00 and gave the stock an overweight rating in a report on Thursday, September 26th. Williams Trading upgraded Crocs from a hold rating to a buy rating and increased their target price for the company from $135.00 to $163.00 in a report on Thursday, August 22nd. Finally, Raymond James downgraded Crocs from a strong-buy rating to an outperform rating and set a $164.00 price objective for the company. in a research report on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $162.58.

Crocs Price Performance

Shares of NASDAQ:CROX opened at $139.55 on Wednesday. The company’s fifty day moving average price is $137.16 and its 200-day moving average price is $138.82. 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 has a market capitalization of $8.29 billion, a price-to-earnings ratio of 10.49, a PEG ratio of 1.35 and a beta of 1.99. Crocs has a one year low of $74.00 and a one year high of $165.32.

Crocs (NASDAQ:CROX) last released its quarterly earnings results on Thursday, August 1st. The textile maker reported $4.01 earnings per share for the quarter, beating analysts’ consensus estimates of $3.59 by $0.42. Crocs had a return on equity of 53.20% and a net margin of 20.02%. The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter last year, the business posted $3.59 earnings per share. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. On average, equities research analysts anticipate that Crocs will post 12.88 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Crocs

Large investors have recently made changes to their positions in the business. Creative Planning raised its stake in Crocs by 7.6% during the third quarter. Creative Planning now owns 5,388 shares of the textile maker’s stock valued at $780,000 after buying an additional 382 shares during the last quarter. Oliver Luxxe Assets LLC increased its holdings in shares of Crocs by 113.7% during the third quarter. Oliver Luxxe Assets LLC now owns 16,462 shares of the textile maker’s stock valued at $2,384,000 after acquiring an additional 8,758 shares in the last quarter. Exchange Traded Concepts LLC raised its position in shares of Crocs by 11.8% in the 3rd quarter. Exchange Traded Concepts LLC now owns 14,488 shares of the textile maker’s stock worth $2,098,000 after purchasing an additional 1,531 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its position in Crocs by 25.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 17,500 shares of the textile maker’s stock valued at $2,532,000 after purchasing an additional 3,500 shares during the last quarter. Finally, UMB Bank n.a. raised its holdings in Crocs by 64.9% in the third quarter. UMB Bank n.a. now owns 305 shares of the textile maker’s stock worth $44,000 after buying an additional 120 shares during the last quarter. 93.44% of the stock is currently owned by hedge funds and other institutional investors.

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.