Bank of America Forecasts Strong Price Appreciation for Crocs (NASDAQ:CROX) Stock

Crocs (NASDAQ:CROX) had its target price upped by Bank of America from $144.00 to $153.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a buy rating on the textile maker’s stock.

CROX has been the topic of several other research reports. Barclays cut their price target on Crocs from $125.00 to $122.00 and set an “overweight” rating on the stock in a report on Friday. Needham & Company LLC reiterated a “buy” rating and issued a $129.00 price objective on shares of Crocs in a report on Thursday. Raymond James downgraded Crocs from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. KeyCorp dropped their price objective on Crocs from $150.00 to $120.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Finally, Monness Crespi & Hardt dropped their price objective on Crocs from $170.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $142.87.

Crocs Price Performance

Shares of NASDAQ CROX opened at $108.43 on Friday. The stock’s 50-day moving average is $105.73 and its two-hundred day moving average is $119.44. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.90. Crocs has a 1-year low of $88.25 and a 1-year high of $165.32. The company has a market cap of $6.32 billion, a price-to-earnings ratio of 7.86, a price-to-earnings-growth ratio of 1.67 and a beta of 1.93.

Crocs (NASDAQ:CROX) last issued its quarterly earnings results on Thursday, February 13th. The textile maker reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.25. Crocs had a return on equity of 49.70% and a net margin of 20.50%. Analysts forecast that Crocs will post 12.92 EPS for the current fiscal year.

Institutional Trading of Crocs

A number of hedge funds have recently added to or reduced their stakes in the stock. FMR LLC lifted its position in Crocs by 4.8% during the 3rd quarter. FMR LLC now owns 8,907,591 shares of the textile maker’s stock worth $1,289,908,000 after acquiring an additional 406,287 shares during the period. Vanguard Group Inc. lifted its position in Crocs by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 5,477,574 shares of the textile maker’s stock worth $599,959,000 after acquiring an additional 47,576 shares during the period. Pacer Advisors Inc. lifted its position in Crocs by 39.6% during the 4th quarter. Pacer Advisors Inc. now owns 2,037,121 shares of the textile maker’s stock worth $223,126,000 after acquiring an additional 577,467 shares during the period. State Street Corp lifted its position in Crocs by 0.7% during the 3rd quarter. State Street Corp now owns 1,812,493 shares of the textile maker’s stock worth $262,467,000 after acquiring an additional 13,467 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its position in Crocs by 1,516.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,326,564 shares of the textile maker’s stock worth $145,299,000 after acquiring an additional 1,244,480 shares during the period. 93.44% of the stock is owned by institutional investors and hedge funds.

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.