Crocs (NASDAQ:CROX) Releases Earnings Results, Beats Estimates By $0.47 EPS

Crocs (NASDAQ:CROX) issued its earnings results on Tuesday. The textile maker reported $3.60 EPS for the quarter, topping analysts’ consensus estimates of $3.13 by $0.47, Briefing.com reports. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. Crocs had a net margin of 20.02% and a return on equity of 53.20%. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period last year, the company posted $3.25 earnings per share.

Crocs Price Performance

Shares of CROX stock traded down $0.61 on Wednesday, reaching $110.97. 1,576,383 shares of the company were exchanged, compared to its average volume of 1,316,902. The company has a market cap of $6.59 billion, a price-to-earnings ratio of 8.33, a P/E/G ratio of 1.35 and a beta of 1.99. The business has a 50-day moving average price of $137.69 and a 200 day moving average price of $138.65. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.95 and a current ratio of 1.50. Crocs has a 1 year low of $74.00 and a 1 year high of $165.32.

Insider Transactions at Crocs

In other news, Director Douglas J. Treff sold 10,594 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $132.38, for a total transaction of $1,402,433.72. Following the completion of the sale, the director now owns 81,254 shares of the company’s stock, valued at $10,756,404.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Douglas J. Treff sold 10,594 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $132.38, for a total transaction of $1,402,433.72. Following the completion of the sale, the director now owns 81,254 shares of the company’s stock, valued at approximately $10,756,404.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John B. Replogle acquired 1,996 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were acquired at an average cost of $123.96 per share, with a total value of $247,424.16. Following the purchase, the director now owns 7,064 shares in the company, valued at $875,653.44. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 2.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CROX shares. Robert W. Baird cut their price objective on shares of Crocs from $190.00 to $180.00 and set an “outperform” rating on the stock in a report on Wednesday. Piper Sandler reaffirmed an “overweight” rating and issued a $170.00 price target on shares of Crocs in a report on Friday, August 23rd. Monness Crespi & Hardt cut their price target on shares of Crocs from $170.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday. Williams Trading raised shares of Crocs from a “hold” rating to a “buy” rating and lifted their price target for the stock from $135.00 to $163.00 in a report on Thursday, August 22nd. Finally, UBS Group cut their price target on shares of Crocs from $146.00 to $122.00 and set a “neutral” rating on the stock in a report on Wednesday. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Crocs currently has an average rating of “Moderate Buy” and a consensus target price of $156.77.

About Crocs

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.