Crocs (NASDAQ:CROX) Stock Rating Upgraded by StockNews.com

Crocs (NASDAQ:CROX) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

Other analysts have also issued research reports about the company. Piper Sandler restated an “overweight” rating and set a $170.00 target price on shares of Crocs in a report on Friday, August 23rd. Barclays dropped their price objective on Crocs from $164.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 29th. Williams Trading upgraded shares of Crocs from a “hold” rating to a “buy” rating and boosted their target price for the stock from $135.00 to $163.00 in a report on Thursday, August 22nd. Needham & Company LLC initiated coverage on shares of Crocs in a report on Friday, November 22nd. They issued a “buy” rating and a $116.00 price target on the stock. Finally, Guggenheim cut their price objective on shares of Crocs from $182.00 to $155.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Crocs currently has a consensus rating of “Moderate Buy” and an average price target of $148.80.

Crocs Trading Down 3.0 %

Shares of NASDAQ CROX opened at $109.91 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. The business has a fifty day simple moving average of $119.94 and a two-hundred day simple moving average of $133.84. The firm has a market cap of $6.41 billion, a PE ratio of 8.21, a price-to-earnings-growth ratio of 1.12 and a beta of 1.98. Crocs has a twelve month low of $85.71 and a twelve month high of $165.32.

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

Insider Buying and Selling at Crocs

In other news, Director John B. Replogle bought 2,240 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were bought at an average cost of $112.60 per share, for a total transaction of $252,224.00. Following the acquisition, the director now directly owns 9,304 shares of the company’s stock, valued at $1,047,630.40. This trade represents a 31.71 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Susan L. Healy purchased 1,000 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were purchased 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 directly owns 22,652 shares in the company, valued at approximately $2,258,404.40. The trade was a 4.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.72% of the stock is owned by insiders.

Hedge Funds Weigh In On Crocs

Large investors have recently made changes to their positions in the stock. Financial Management Professionals Inc. lifted its position in shares of Crocs by 11,200.0% during the third quarter. Financial Management Professionals Inc. now owns 226 shares of the textile maker’s stock worth $33,000 after purchasing an additional 224 shares in the last quarter. GHP Investment Advisors Inc. boosted its position in shares of 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 acquiring an additional 180 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of Crocs by 64.9% in the 3rd quarter. UMB Bank n.a. now owns 305 shares of the textile maker’s stock valued at $44,000 after acquiring an additional 120 shares during the last quarter. V Square Quantitative Management LLC lifted its stake in Crocs by 83.0% during the third quarter. V Square Quantitative Management LLC now owns 313 shares of the textile maker’s stock worth $45,000 after purchasing an additional 142 shares during the last quarter. Finally, Avior Wealth Management LLC increased its stake in Crocs by 109.5% in the third 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 during the last quarter. 93.44% of the stock is currently 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.