Crocs (NASDAQ:CROX) Shares Gap Up – Here’s What Happened

Crocs, Inc. (NASDAQ:CROX)’s share price gapped up before the market opened on Friday . The stock had previously closed at $129.99, but opened at $134.00. Crocs shares last traded at $136.16, with a volume of 310,677 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Barclays dropped their target price on shares of Crocs from $169.00 to $164.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Wedbush reiterated an “outperform” rating and issued a $170.00 price target on shares of Crocs in a report on Monday, July 29th. Williams Trading upgraded Crocs from a “hold” rating to a “buy” rating and boosted their price objective for the company from $135.00 to $163.00 in a report on Thursday, August 22nd. KeyCorp increased their target price on Crocs from $149.00 to $155.00 and gave the stock an “overweight” rating in a report on Thursday, September 26th. Finally, Guggenheim assumed coverage on shares of Crocs in a research report on Wednesday, October 9th. They issued a “buy” rating and a $182.00 price target for the company. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Crocs has a consensus rating of “Moderate Buy” and a consensus target price of $162.58.

Crocs Stock Up 3.0 %

The company has a current ratio of 1.50, a quick ratio of 0.95 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $8.13 billion, a P/E ratio of 10.06, a P/E/G ratio of 1.35 and a beta of 1.99. The stock’s 50-day simple moving average is $138.23 and its 200-day simple moving average is $138.54.

Crocs (NASDAQ:CROX) last issued its quarterly earnings results on Thursday, August 1st. The textile maker reported $4.01 EPS for the quarter, topping analysts’ consensus estimates of $3.59 by $0.42. Crocs had a return on equity of 53.20% and a net margin of 20.02%. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.10 billion. Crocs’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period last year, the company posted $3.59 earnings per share. As a group, research analysts predict that Crocs, Inc. will post 12.88 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Trading of Crocs

Institutional investors have recently modified their holdings of the business. Integrated Advisors Network LLC increased its position in shares of Crocs by 6.6% during the third quarter. Integrated Advisors Network LLC now owns 3,569 shares of the textile maker’s stock valued at $517,000 after buying an additional 221 shares during the period. State of Alaska Department of Revenue grew its position in Crocs by 3.6% during the third quarter. State of Alaska Department of Revenue now owns 9,433 shares of the textile maker’s stock worth $1,365,000 after buying an additional 330 shares in the last quarter. Financial Management Professionals Inc. boosted its position in shares of Crocs by 11,200.0% during the 3rd quarter. Financial Management Professionals Inc. now owns 226 shares of the textile maker’s stock valued at $33,000 after acquiring an additional 224 shares during the last quarter. Clear Harbor Asset Management LLC increased its position in shares of Crocs by 4.0% in the third quarter. Clear Harbor Asset Management LLC now owns 3,014 shares of the textile maker’s stock worth $436,000 after purchasing an additional 115 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its position in Crocs by 477.9% during the third quarter. DekaBank Deutsche Girozentrale now owns 11,246 shares of the textile maker’s stock valued at $1,614,000 after purchasing an additional 9,300 shares during the last quarter. 93.44% of the stock is currently 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.