Crocs (NASDAQ:CROX) Coverage Initiated by Analysts at Needham & Company LLC

Needham & Company LLC started coverage on shares of Crocs (NASDAQ:CROX) in a research note published on Friday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $116.00 price target on the textile maker’s stock.

A number of other equities research analysts have also recently commented on CROX. KeyCorp decreased their target price on shares of Crocs from $155.00 to $150.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Piper Sandler reissued an “overweight” rating and issued a $170.00 price objective on shares of Crocs in a research report on Friday, August 23rd. Loop Capital lowered Crocs from a “buy” rating to a “hold” rating and reduced their target price for the company from $150.00 to $110.00 in a research report on Thursday, November 7th. Wedbush reissued an “outperform” rating and issued a $170.00 price target on shares of Crocs in a report on Monday, July 29th. Finally, Raymond James downgraded shares of Crocs from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, Crocs currently has a consensus rating of “Moderate Buy” and a consensus target price of $148.80.

Crocs Stock Up 2.3 %

Crocs stock opened at $108.53 on Friday. Crocs has a twelve month low of $85.71 and a twelve month high of $165.32. The business has a fifty day moving average of $124.58 and a two-hundred day moving average of $135.52. The firm has a market cap of $6.33 billion, a P/E ratio of 7.87, a P/E/G ratio of 1.07 and a beta of 2.01. The company has a quick ratio of 0.90, a current ratio of 1.43 and a debt-to-equity ratio of 0.82.

Crocs (NASDAQ:CROX) last issued its quarterly earnings data on Tuesday, October 29th. The textile maker reported $3.60 earnings per share for the quarter, beating analysts’ consensus estimates of $3.10 by $0.50. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. Crocs had a return on equity of 49.70% and a net margin of 20.50%. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter last year, the company earned $3.25 earnings per share. On average, analysts forecast that Crocs will post 12.93 earnings per share for the current fiscal year.

Insider Buying and Selling at Crocs

In other Crocs news, CFO Susan L. Healy purchased 1,000 shares of Crocs stock in a transaction that occurred on Wednesday, November 13th. The stock was bought at an average price 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 $2,258,404.40. This trade represents a 4.62 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director John B. Replogle bought 2,240 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were acquired at an average price of $112.60 per share, for a total transaction of $252,224.00. Following the transaction, the director now directly owns 9,304 shares in the company, valued at approximately $1,047,630.40. This represents a 31.71 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.72% of the stock is owned by corporate insiders.

Institutional Trading of Crocs

A number of institutional investors and hedge funds have recently modified their holdings of the stock. GHP Investment Advisors Inc. increased its stake in Crocs by 375.0% during the 2nd quarter. GHP Investment Advisors Inc. now owns 228 shares of the textile maker’s stock worth $33,000 after buying an additional 180 shares in the last quarter. Financial Management Professionals Inc. boosted its stake in shares of Crocs by 11,200.0% in the third quarter. Financial Management Professionals Inc. now owns 226 shares of the textile maker’s stock worth $33,000 after acquiring an additional 224 shares during the last quarter. UMB Bank n.a. increased its position in shares of Crocs by 64.9% during the third quarter. UMB Bank n.a. now owns 305 shares of the textile maker’s stock worth $44,000 after purchasing an additional 120 shares in the last quarter. V Square Quantitative Management LLC raised its stake in Crocs by 83.0% in the 3rd quarter. V Square Quantitative Management LLC now owns 313 shares of the textile maker’s stock valued at $45,000 after purchasing an additional 142 shares during the last quarter. Finally, Avior Wealth Management LLC lifted its holdings in Crocs by 109.5% in the 3rd quarter. Avior Wealth Management LLC now owns 398 shares of the textile maker’s stock valued at $58,000 after purchasing an additional 208 shares in the last quarter. Hedge funds and other institutional investors own 93.44% of the company’s stock.

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.