StockNews.com Upgrades Crocs (NASDAQ:CROX) to “Buy”

Crocs (NASDAQ:CROX) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Tuesday.

Several other equities research analysts also recently commented on CROX. Williams Trading raised shares of Crocs from a “hold” rating to a “buy” rating and upped their price objective for the company from $135.00 to $163.00 in a report on Thursday, August 22nd. Barclays dropped their price target on shares of Crocs from $169.00 to $164.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Bank of America lifted their price objective on shares of Crocs from $160.00 to $187.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. Raymond James downgraded Crocs from a “strong-buy” rating to an “outperform” rating and set a $164.00 target price on the stock. in a research report on Friday, August 2nd. Finally, Piper Sandler reiterated an “overweight” rating and issued a $170.00 price target on shares of Crocs in a research report on Friday, August 23rd. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $162.58.

Crocs Stock Down 2.1 %

CROX opened at $137.54 on Tuesday. Crocs has a twelve month low of $74.00 and a twelve month high of $165.32. The company’s 50-day moving average price is $138.03 and its two-hundred day moving average price is $138.72. The stock has a market cap of $8.35 billion, a price-to-earnings ratio of 10.65, a PEG ratio of 1.35 and a beta of 1.99. The company has a quick ratio of 0.95, a current ratio of 1.50 and a debt-to-equity ratio of 0.93.

Crocs (NASDAQ:CROX) last announced its quarterly earnings data on Thursday, August 1st. The textile maker reported $4.01 earnings per share for the quarter, beating the consensus estimate of $3.59 by $0.42. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.10 billion. Crocs had a return on equity of 53.20% and a net margin of 20.02%. Crocs’s revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the company earned $3.59 earnings per share. As a group, equities analysts expect that Crocs will post 12.88 earnings per share for the current year.

Insider Activity

In related news, Director Douglas J. Treff sold 10,594 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $10,756,404.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director John B. Replogle acquired 1,996 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was bought at an average cost of $123.96 per share, with a total value 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Douglas J. Treff sold 10,594 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $132.38, for a total transaction of $1,402,433.72. Following the completion of the transaction, the director now owns 81,254 shares of the company’s stock, valued at $10,756,404.52. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.72% of the company’s stock.

Institutional Investors Weigh In On Crocs

Several hedge funds have recently added to or reduced their stakes in the company. Davis Investment Partners LLC raised its holdings in shares of Crocs by 0.8% during the 3rd quarter. Davis Investment Partners LLC now owns 9,673 shares of the textile maker’s stock valued at $1,362,000 after buying an additional 77 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Crocs by 8.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,041 shares of the textile maker’s stock worth $152,000 after acquiring an additional 85 shares during the last quarter. Central Pacific Bank Trust Division boosted its stake in shares of Crocs by 8.0% in the 3rd quarter. Central Pacific Bank Trust Division now owns 1,350 shares of the textile maker’s stock valued at $195,000 after purchasing an additional 100 shares in the last quarter. 180 Wealth Advisors LLC grew its holdings in shares of Crocs by 1.6% during the 2nd quarter. 180 Wealth Advisors LLC now owns 7,248 shares of the textile maker’s stock valued at $1,036,000 after purchasing an additional 111 shares during the last quarter. Finally, UMB Bank n.a. raised its position in Crocs by 64.9% in the 3rd quarter. UMB Bank n.a. now owns 305 shares of the textile maker’s stock worth $44,000 after purchasing an additional 120 shares during the period. Institutional investors own 93.44% 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.