Zacks Investment Research upgraded shares of Crocs (NASDAQ:CROX) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning. Zacks Investment Research currently has $22.00 price objective on the textile maker’s stock.
According to Zacks, “Crocs, Inc. is a world leader in innovative casual footwear for men, women and children. Crocs offers a broad portfolio of all-season products, while remaining true to its core molded footwear heritage. All Crocs shoes feature Croslite material, a proprietary, revolutionary technology that gives each pair of shoes the soft, comfortable, lightweight, non-marking and odor-resistant qualities that Crocs fans have known and love. Crocs celebrates the fun of being a little different and encourages fans to Find Your Fun in every colorful pair of shoes. “
A number of other equities research analysts have also issued reports on the company. BidaskClub lowered Crocs from a buy rating to a hold rating in a research note on Thursday, October 4th. TheStreet raised Crocs from a c+ rating to a b rating in a report on Thursday, August 9th. Finally, Pivotal Research reissued a buy rating and issued a $21.00 price target on shares of Crocs in a report on Tuesday, August 7th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $16.14.
Shares of CROX stock traded up $0.60 during trading hours on Tuesday, reaching $19.94. The company had a trading volume of 1,081,178 shares, compared to its average volume of 1,053,976. Crocs has a twelve month low of $8.64 and a twelve month high of $22.07. The firm has a market cap of $1.45 billion, a P/E ratio of -997.00, a price-to-earnings-growth ratio of 5.26 and a beta of 0.50.
Crocs (NASDAQ:CROX) last posted its earnings results on Tuesday, August 7th. The textile maker reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.26. Crocs had a return on equity of 13.84% and a net margin of 2.29%. The business had revenue of $328.00 million during the quarter, compared to analyst estimates of $321.47 million. As a group, research analysts expect that Crocs will post 0.27 EPS for the current fiscal year.
In other Crocs news, insider Daniel P. Hart sold 20,831 shares of the stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $20.00, for a total transaction of $416,620.00. Following the transaction, the insider now owns 347,706 shares of the company’s stock, valued at approximately $6,954,120. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Thomas J. Smach sold 74,400 shares of the stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $20.14, for a total value of $1,498,416.00. Following the transaction, the director now directly owns 125,262 shares in the company, valued at approximately $2,522,776.68. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. NumerixS Investment Technologies Inc bought a new position in Crocs during the 2nd quarter worth approximately $137,000. Aperio Group LLC bought a new position in Crocs during the 2nd quarter worth approximately $179,000. Brown Advisory Inc. bought a new position in Crocs during the 1st quarter worth approximately $171,000. Amalgamated Bank bought a new position in Crocs during the 2nd quarter worth approximately $195,000. Finally, SG Americas Securities LLC bought a new position in Crocs during the 1st quarter worth approximately $184,000. 97.24% of the stock is currently owned by institutional investors.
Crocs, Inc, together with its subsidiaries, designs, develops, manufactures, markets, and distributes casual lifestyle footwear and accessories for men, women, and children worldwide. It offers various footwear products, including clogs, sandals, flips and slides, shoes, and boots under the Crocs brand name.
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