Crocs (NASDAQ:CROX) Price Target Raised to $132.00

Crocs (NASDAQ:CROX) had its price objective boosted by UBS Group from $122.00 to $132.00 in a report released on Wednesday morning,Benzinga reports. The brokerage currently has a neutral rating on the textile maker’s stock.

CROX has been the subject of a number of other research reports. Loop Capital downgraded shares of Crocs from a “buy” rating to a “hold” rating and lowered their target price for the stock from $150.00 to $110.00 in a research note on Thursday, November 7th. StockNews.com upgraded shares of Crocs from a “hold” rating to a “buy” rating in a research note on Wednesday, February 12th. Bank of America upped their price objective on shares of Crocs from $144.00 to $153.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Guggenheim decreased their price objective on shares of Crocs from $155.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Finally, Needham & Company LLC restated a “buy” rating and issued a $129.00 price objective on shares of Crocs in a research note on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.53.

Crocs Stock Down 1.2 %

Crocs stock opened at $107.60 on Wednesday. The company has a current ratio of 1.18, a quick ratio of 0.70 and a debt-to-equity ratio of 0.74. The stock’s fifty day simple moving average is $105.39 and its 200-day simple moving average is $118.75. The firm has a market capitalization of $6.03 billion, a P/E ratio of 6.73, a P/E/G ratio of 1.83 and a beta of 1.93. Crocs has a twelve month low of $88.25 and a twelve month high of $165.32.

Crocs (NASDAQ:CROX) last issued its earnings results on Thursday, February 13th. The textile maker reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.25. Crocs had a net margin of 23.16% and a return on equity of 46.27%. As a group, equities analysts expect that Crocs will post 13.2 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Shannon Sisler sold 4,659 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $109.75, for a total transaction of $511,325.25. Following the completion of the transaction, the executive vice president now directly owns 29,299 shares of the company’s stock, valued at $3,215,565.25. This represents a 13.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Adam Michaels sold 15,000 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $106.69, for a total transaction of $1,600,350.00. Following the transaction, the executive vice president now directly owns 89,323 shares of the company’s stock, valued at $9,529,870.87. This represents a 14.38 % 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 Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. raised its holdings in Crocs by 55.8% during the third quarter. Crossmark Global Holdings Inc. now owns 40,192 shares of the textile maker’s stock worth $5,820,000 after purchasing an additional 14,387 shares in the last quarter. Meeder Asset Management Inc. raised its holdings in Crocs by 585.5% during the third quarter. Meeder Asset Management Inc. now owns 24,349 shares of the textile maker’s stock worth $3,526,000 after purchasing an additional 20,797 shares in the last quarter. Catalyst Capital Advisors LLC raised its holdings in Crocs by 2,775.6% during the third quarter. Catalyst Capital Advisors LLC now owns 7,908 shares of the textile maker’s stock worth $1,145,000 after purchasing an additional 7,633 shares in the last quarter. Aigen Investment Management LP purchased a new position in Crocs during the third quarter worth about $2,024,000. Finally, International Assets Investment Management LLC purchased a new position in Crocs during the third quarter worth about $2,076,000. 93.44% of the stock is 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.