Crocs (CROX) Upgraded by Piper Jaffray Companies to “Overweight”
Piper Jaffray Companies upgraded shares of Crocs (NASDAQ:CROX) from a neutral rating to an overweight rating in a research note issued to investors on Thursday, Marketbeat reports. They currently have $15.00 target price on the textile maker’s stock.
A number of other research analysts also recently commented on CROX. Pivotal Research reaffirmed a hold rating and set a $13.00 price objective (up previously from $10.00) on shares of Crocs in a research note on Wednesday, January 10th. Zacks Investment Research raised shares of Crocs from a hold rating to a buy rating and set a $16.00 price objective for the company in a research note on Tuesday, February 27th. BidaskClub downgraded shares of Crocs from a strong-buy rating to a buy rating in a research note on Thursday, January 4th. CL King downgraded shares of Crocs from a buy rating to a neutral rating in a research note on Monday, November 20th. Finally, ValuEngine raised shares of Crocs from a sell rating to a hold rating in a research note on Monday, November 13th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $11.00.
Crocs (NASDAQ:CROX) opened at $13.63 on Thursday. Crocs has a one year low of $5.93 and a one year high of $14.95. The firm has a market cap of $938.16, a PE ratio of -85.19, a P/E/G ratio of 3.00 and a beta of 0.55.
Crocs declared that its board has approved a share buyback plan on Wednesday, February 28th that authorizes the company to buyback $431.00 million in shares. This buyback authorization authorizes the textile maker to reacquire shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.
Several hedge funds and other institutional investors have recently bought and sold shares of CROX. Millennium Management LLC increased its stake in shares of Crocs by 132.6% during the 4th quarter. Millennium Management LLC now owns 1,947,358 shares of the textile maker’s stock valued at $24,615,000 after acquiring an additional 1,110,317 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Crocs by 36.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,532,024 shares of the textile maker’s stock worth $27,232,000 after purchasing an additional 937,111 shares in the last quarter. Fuller & Thaler Asset Management Inc. acquired a new stake in Crocs during the 4th quarter worth approximately $7,473,000. WINTON GROUP Ltd increased its position in Crocs by 172.3% during the 4th quarter. WINTON GROUP Ltd now owns 828,828 shares of the textile maker’s stock worth $10,476,000 after purchasing an additional 524,397 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in Crocs by 15.2% during the 4th quarter. Renaissance Technologies LLC now owns 3,386,564 shares of the textile maker’s stock worth $42,806,000 after purchasing an additional 447,624 shares in the last quarter. 97.17% of the stock is owned by institutional investors.
Crocs Company Profile
Crocs, Inc is engaged in the design, development, manufacturing, marketing, distribution and sale of casual lifestyle footwear and accessories for men, women, and children. The Company’s segments include Americas, Asia Pacific and Europe. Its products include footwear and accessories that utilize its closed-cell resin, called Croslite, as well as casual lifestyle footwear that use a range of materials.
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