Crocs (NASDAQ:CROX) Rating Increased to Buy at StockNews.com

Crocs (NASDAQ:CROX) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

Several other research firms also recently weighed in on CROX. Needham & Company LLC began coverage on Crocs in a report on Friday, November 22nd. They issued a “buy” rating and a $116.00 target price for the company. Raymond James downgraded Crocs from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. Guggenheim reaffirmed a “buy” rating and issued a $155.00 target price on shares of Crocs in a report on Friday, December 6th. KeyCorp reduced their price target on shares of Crocs from $155.00 to $150.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Finally, Barclays lowered their price objective on shares of Crocs from $164.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 29th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $148.80.

Crocs Stock Up 0.7 %

CROX stock traded up $0.77 during trading on Friday, hitting $110.80. 729,609 shares of the company’s stock were exchanged, compared to its average volume of 832,204. The company has a current ratio of 1.43, a quick ratio of 0.90 and a debt-to-equity ratio of 0.82. Crocs has a 52-week low of $85.71 and a 52-week high of $165.32. The business has a 50-day moving average price of $107.82 and a two-hundred day moving average price of $127.78. The stock has a market capitalization of $6.46 billion, a price-to-earnings ratio of 8.03, a PEG ratio of 1.14 and a beta of 1.98.

Crocs (NASDAQ:CROX) last posted its earnings results on Tuesday, October 29th. The textile maker reported $3.60 EPS for the quarter, beating analysts’ consensus estimates of $3.10 by $0.50. Crocs had a net margin of 20.50% and a return on equity of 49.70%. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period last year, the firm posted $3.25 EPS. The company’s revenue was up 1.6% on a year-over-year basis. As a group, equities research analysts expect that Crocs will post 12.93 EPS for the current year.

Insider Buying and Selling

In related news, CFO Susan L. Healy acquired 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was purchased at an average cost of $99.70 per share, for a total transaction of $99,700.00. Following the transaction, the chief financial officer now directly owns 22,652 shares of the company’s stock, valued at approximately $2,258,404.40. This trade represents a 4.62 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director John B. Replogle bought 2,240 shares of the stock in a transaction on Wednesday, October 30th. The shares were bought at an average price of $112.60 per share, for a total transaction of $252,224.00. Following the acquisition, the director now owns 9,304 shares in the company, valued at $1,047,630.40. The trade was a 31.71 % increase in their position. The disclosure for this purchase can be found here. 2.72% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Crocs

A number of institutional investors have recently modified their holdings of CROX. Central Pacific Bank Trust Division increased its position in Crocs by 32.6% during the 4th quarter. Central Pacific Bank Trust Division now owns 1,790 shares of the textile maker’s stock worth $196,000 after purchasing an additional 440 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Crocs by 31.1% in the third quarter. Franklin Resources Inc. now owns 46,600 shares of the textile maker’s stock valued at $6,497,000 after buying an additional 11,056 shares in the last quarter. Tidal Investments LLC grew its position in Crocs by 64.5% in the third quarter. Tidal Investments LLC now owns 21,674 shares of the textile maker’s stock valued at $3,139,000 after acquiring an additional 8,498 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Crocs during the 3rd quarter valued at $73,000. Finally, World Investment Advisors LLC purchased a new stake in Crocs during the 3rd quarter worth $211,000. Institutional investors and hedge funds own 93.44% of the company’s stock.

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.