Crocs (NASDAQ:CROX) Stock Rating Reaffirmed by Wedbush

Crocs (NASDAQ:CROX)‘s stock had its “outperform” rating reiterated by stock analysts at Wedbush in a research report issued on Monday, Benzinga reports. They currently have a $170.00 target price on the textile maker’s stock. Wedbush’s price objective indicates a potential upside of 29.26% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. Williams Trading reaffirmed a “hold” rating and issued a $125.00 target price (down previously from $135.00) on shares of Crocs in a research note on Tuesday, April 16th. Barclays increased their price objective on Crocs from $167.00 to $169.00 and gave the company an “overweight” rating in a research note on Wednesday, May 8th. Bank of America boosted their target price 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. UBS Group decreased their price target on shares of Crocs from $148.00 to $146.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 16th. Finally, Stifel Nicolaus upped their price objective on shares of Crocs from $140.00 to $158.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Crocs presently has an average rating of “Moderate Buy” and an average price target of $152.82.

Crocs Trading Up 0.8 %

Shares of CROX stock opened at $131.52 on Monday. The stock has a market cap of $7.98 billion, a P/E ratio of 10.22, a P/E/G ratio of 1.45 and a beta of 2.00. The company has a quick ratio of 1.14, a current ratio of 1.76 and a debt-to-equity ratio of 1.08. Crocs has a fifty-two week low of $74.00 and a fifty-two week high of $165.32. The business has a fifty day simple moving average of $146.27 and a 200-day simple moving average of $130.68.

Crocs (NASDAQ:CROX) last posted its earnings results on Tuesday, May 7th. The textile maker reported $3.02 earnings per share for the quarter, beating the consensus estimate of $2.25 by $0.77. Crocs had a net margin of 19.80% and a return on equity of 56.33%. The firm had revenue of $938.60 million during the quarter, compared to the consensus estimate of $884.29 million. During the same period last year, the firm posted $2.61 EPS. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, analysts forecast that Crocs will post 12.7 earnings per share for the current fiscal year.

Insider Transactions at Crocs

In related 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 owns 115,339 shares in the company, valued at $16,184,368.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Thomas J. Smach sold 10,174 shares of the firm’s stock in a transaction dated 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Andrew Rees sold 10,000 shares of the business’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $160.15, for a total value of $1,601,500.00. Following the sale, the chief executive officer now owns 79,748 shares of the company’s stock, valued at approximately $12,771,642.20. The disclosure for this sale can be found here. Insiders sold a total of 30,178 shares of company stock worth $4,597,445 in the last ninety days. Insiders own 2.72% of the company’s stock.

Institutional Investors Weigh In On Crocs

A number of large investors have recently modified their holdings of the stock. Raymond James & Associates grew its position in Crocs by 235.8% in the fourth quarter. Raymond James & Associates now owns 58,514 shares of the textile maker’s stock valued at $5,466,000 after acquiring an additional 41,091 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Crocs by 163.7% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 52,708 shares of the textile maker’s stock valued at $4,923,000 after purchasing an additional 32,721 shares during the period. Blue Trust Inc. grew its holdings in Crocs by 185.0% during the 4th quarter. Blue Trust Inc. now owns 342 shares of the textile maker’s stock valued at $32,000 after purchasing an additional 222 shares in the last quarter. Fifth Third Bancorp increased its stake in Crocs by 428.6% during the 4th quarter. Fifth Third Bancorp now owns 3,933 shares of the textile maker’s stock worth $367,000 after buying an additional 3,189 shares during the period. Finally, JB Capital LLC lifted its holdings in Crocs by 33.4% in the 4th quarter. JB Capital LLC now owns 9,506 shares of the textile maker’s stock worth $888,000 after buying an additional 2,382 shares in the last quarter. Institutional investors and hedge funds 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.