Crocs (NASDAQ:CROX – Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Sunday, Wall Street Zen reports.
Several other equities analysts also recently issued reports on CROX. Weiss Ratings upgraded Crocs from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, October 26th. Monness Crespi & Hardt raised their target price on Crocs from $130.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Needham & Company LLC raised their target price on Crocs from $150.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, October 29th. Barclays lifted their target price on Crocs from $139.00 to $178.00 and gave the company an “overweight” rating in a research note on Friday. Finally, BTIG Research reiterated a “neutral” rating on shares of Crocs in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $158.30.
Check Out Our Latest Report on Crocs
Crocs Trading Up 1.7%
Shares of NASDAQ:CROX opened at $153.13 on Friday. The company has a market cap of $7.34 billion, a PE ratio of 11.44, a P/E/G ratio of 1.00 and a beta of 1.56. The company’s 50-day moving average price is $121.03 and its 200 day moving average price is $110.07. Crocs has a fifty-two week low of $73.21 and a fifty-two week high of $156.71. The company has a quick ratio of 0.96, a current ratio of 1.49 and a debt-to-equity ratio of 0.94.
Crocs (NASDAQ:CROX – Get Free Report) last posted its earnings results on Thursday, October 29th. The textile maker reported $3.69 EPS for the quarter, topping the consensus estimate of $3.31 by $0.38. Crocs had a net margin of 14.64% and a return on equity of 47.75%. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1 billion. During the same quarter in the prior year, the firm earned $2.92 EPS. Crocs’s quarterly revenue was up 4.7% on a year-over-year basis. Sell-side analysts anticipate that Crocs will post 14.62 earnings per share for the current year.
Insider Activity
In related news, Director Beth Kaplan bought 885 shares of the stock in a transaction on Tuesday, September 15th. The shares were purchased at an average price of $112.12 per share, with a total value of $99,226.20. Following the purchase, the director owned 15,259 shares in the company, valued at approximately $1,710,839.08. This represents a 6.16% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Andrew Rees sold 19,072 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $138.91, for a total transaction of $2,649,291.52. Following the completion of the sale, the chief executive officer directly owned 713,293 shares of the company’s stock, valued at approximately $99,083,530.63. This represents a 2.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 3.10% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Crocs
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Heritage Family Offices LLP bought a new position in shares of Crocs in the third quarter valued at $45,000. Commonwealth Equity Services LLC lifted its position in shares of Crocs by 3.2% during the 3rd quarter. Commonwealth Equity Services LLC now owns 3,066 shares of the textile maker’s stock valued at $360,000 after acquiring an additional 95 shares during the last quarter. Capital CS Group LLC acquired a new stake in shares of Crocs during the 3rd quarter valued at $451,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Crocs during the 3rd quarter worth $62,000. Finally, Vise Technologies Inc. boosted its stake in shares of Crocs by 253.5% during the 3rd quarter. Vise Technologies Inc. now owns 7,799 shares of the textile maker’s stock worth $915,000 after acquiring an additional 5,593 shares in the last quarter. Institutional investors own 93.44% of the company’s stock.
About Crocs
Crocs, Inc is a global footwear company best known for its Crocs brand of casual, lightweight shoes. Its product portfolio includes clogs, sandals, slides, boots and other casual footwear, along with accessories such as Jibbitz charms, which are designed to personalize Crocs shoes.
The company was founded in 2002 and introduced its first clog that year. Crocs has expanded from its original molded footwear into a broader lifestyle brand, offering products for women, men and children through company-operated and third-party retail stores, e-commerce platforms and wholesale partners.
In 2022, Crocs completed its acquisition of HEYDUDE, adding the casual shoe brand to its portfolio.
Further Reading
- Five stocks we like better than Crocs
- AbbVie’s Humira Era Is Fading, But Its New Growth Engines Face Another Test
- GLP-1 Focus or Broader Peptide Exposure: Which ETF Has the Edge?
- Mortgage Rates Froze U.S. Housing, But These 3 Overseas Markets Still Pay Double Digits
- Big Tech Is Spending Billions on AI—These 5 Stocks Are Getting Paid
Receive News & Ratings for Crocs Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crocs and related companies with MarketBeat.com's FREE daily email newsletter.
