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

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

CROX has been the subject of a number of other research reports. Williams Trading upgraded Crocs from a hold rating to a buy rating and upped their target price for the stock from $135.00 to $163.00 in a report on Thursday, August 22nd. KeyCorp raised their price objective on Crocs from $149.00 to $155.00 and gave the company an overweight rating in a research report on Thursday, September 26th. Piper Sandler reiterated an overweight rating and issued a $170.00 target price on shares of Crocs in a report on Friday, August 23rd. Guggenheim initiated coverage on shares of Crocs in a report on Wednesday, October 9th. They issued a buy rating and a $182.00 price target on the stock. Finally, UBS Group cut their price objective on shares of Crocs from $148.00 to $146.00 and set a neutral rating on the stock in a research report on Tuesday, July 16th. Two investment analysts have rated the stock with a hold rating and twelve have given a 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 $162.58.

Crocs Price Performance

CROX opened at $140.45 on Tuesday. The company has a current ratio of 1.50, a quick ratio of 0.95 and a debt-to-equity ratio of 0.93. The business’s fifty day simple moving average is $137.80 and its 200-day simple moving average is $138.73. The company has a market capitalization of $8.53 billion, a price-to-earnings ratio of 10.87, a PEG ratio of 1.35 and a beta of 1.99. Crocs has a 12-month low of $74.00 and a 12-month high of $165.32.

Crocs (NASDAQ:CROX) last posted its earnings results on Thursday, August 1st. The textile maker reported $4.01 EPS for the quarter, beating analysts’ consensus estimates of $3.59 by $0.42. Crocs had a net margin of 20.02% and a return on equity of 53.20%. 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 firm posted $3.59 EPS. 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.

Insider Activity

In other news, Director John B. Replogle bought 1,996 shares of Crocs stock in a transaction that occurred on Friday, August 2nd. The stock was bought at an average price of $123.96 per share, for a total transaction of $247,424.16. Following the purchase, the director now directly 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 legal filing with the SEC, which is accessible through this hyperlink. In other Crocs news, Director John B. Replogle purchased 1,996 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were bought 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 in the company, valued at $875,653.44. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Douglas J. Treff sold 10,594 shares of Crocs stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $132.38, for a total transaction of $1,402,433.72. Following the sale, the director now owns 81,254 shares of the company’s stock, valued at approximately $10,756,404.52. The trade was 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 and other institutional investors have recently added to or reduced their stakes in CROX. Rise Advisors LLC purchased a new stake in shares of Crocs in the first quarter worth about $25,000. GHP Investment Advisors Inc. boosted its position in Crocs by 375.0% in the 2nd quarter. GHP Investment Advisors Inc. now owns 228 shares of the textile maker’s stock worth $33,000 after purchasing an additional 180 shares in the last quarter. UMB Bank n.a. grew its stake in shares of Crocs by 64.9% during 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. Blue Trust Inc. increased its holdings in shares of Crocs by 19.3% during the 2nd quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker’s stock valued at $144,000 after purchasing an additional 162 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake 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 valued at $152,000 after purchasing an additional 85 shares during the period. 93.44% of the stock is owned by institutional investors and hedge funds.

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.