Crocs (NASDAQ:CROX) Price Target Raised to $187.00 at Bank of America

Crocs (NASDAQ:CROX) had its price objective upped by Bank of America from $160.00 to $187.00 in a research report released on Thursday morning, Benzinga reports. Bank of America currently has a buy rating on the textile maker’s stock.

Several other equities research analysts have also issued reports on the company. Stifel Nicolaus raised their price target on Crocs from $140.00 to $158.00 and gave the stock a buy rating in a research note on Wednesday, May 8th. Monness Crespi & Hardt raised their price target on Crocs from $140.00 to $170.00 and gave the stock a buy rating in a research note on Wednesday, May 8th. Williams Trading reissued a hold rating and set a $125.00 price target (down from $135.00) on shares of Crocs in a research note on Tuesday, April 16th. OTR Global raised Crocs from a mixed rating to a positive rating in a research note on Thursday, April 11th. Finally, KeyCorp raised their price target on Crocs from $130.00 to $149.00 and gave the stock an overweight rating in a research note on Thursday, March 21st. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $154.83.

Crocs Price Performance

NASDAQ:CROX opened at $157.85 on Thursday. The firm has a market capitalization of $9.58 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 1.80 and a beta of 1.97. Crocs has a 1 year low of $74.00 and a 1 year high of $165.32. The business has a 50 day simple moving average of $140.62 and a 200-day simple moving average of $122.87. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.76 and a quick ratio of 1.14.

Crocs (NASDAQ:CROX) last posted its quarterly earnings data on Tuesday, May 7th. The textile maker reported $3.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.25 by $0.77. The business had revenue of $938.60 million during the quarter, compared to analyst estimates of $884.29 million. Crocs had a return on equity of 56.33% and a net margin of 19.80%. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period last year, the company earned $2.61 EPS. Equities analysts forecast that Crocs will post 12.66 EPS for the current year.

Insider Activity

In other news, Director Thomas J. Smach sold 10,174 shares of Crocs stock in a transaction on Friday, May 10th. The stock was sold at an average price of $140.32, for a total value of $1,427,615.68. Following the transaction, the director now directly owns 115,339 shares in the company, valued at approximately $16,184,368.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Thomas J. Smach sold 10,174 shares of Crocs stock in a transaction on Friday, May 10th. The stock was sold at an average price of $140.32, for a total value of $1,427,615.68. Following the transaction, the director now directly owns 115,339 shares in the company, valued at approximately $16,184,368.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Shannon Sisler sold 1,450 shares of Crocs stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $152.32, for a total value of $220,864.00. Following the completion of the transaction, the executive vice president now owns 35,653 shares in the company, valued at $5,430,664.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,178 shares of company stock worth $4,597,445. 2.72% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CROX. WIT Partners Advisory Pte. Ltd. purchased a new position in Crocs during the 4th quarter worth $266,431,000. Coatue Management LLC grew its stake in Crocs by 836.7% during the 4th quarter. Coatue Management LLC now owns 1,029,765 shares of the textile maker’s stock worth $96,190,000 after buying an additional 919,835 shares during the last quarter. Norges Bank purchased a new position in Crocs during the 4th quarter worth $72,211,000. Patient Capital Management LLC purchased a new position in Crocs during the 4th quarter worth $39,420,000. Finally, AQR Capital Management LLC grew its stake in Crocs by 141.1% during the 3rd quarter. AQR Capital Management LLC now owns 720,554 shares of the textile maker’s stock worth $63,574,000 after buying an additional 421,712 shares during the last quarter. 93.44% of the stock is currently owned by hedge funds and other institutional investors.

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.