Crocs (NASDAQ:CROX) Reaches New 52-Week High – Here’s What Happened

Crocs, Inc. (NASDAQ:CROX)’s share price reached a new 52-week high during mid-day trading on Wednesday. The company traded as high as $157.00 and last traded at $156.8350, with a volume of 7,329 shares trading hands. The stock had previously closed at $153.61.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Barclays upped their price target on shares of Crocs from $139.00 to $178.00 and gave the stock an “overweight” rating in a report on Friday, October 30th. Seaport Research Partners boosted their price objective on shares of Crocs from $135.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Williams Trading set a $184.00 target price on shares of Crocs in a research report on Friday. Zacks Research upgraded shares of Crocs from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 30th. Finally, Weiss Ratings upgraded shares of Crocs from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, October 26th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $158.30.

Crocs Stock Up 4.1%

The company has a 50-day moving average of $121.58 and a 200-day moving average of $110.42. The company has a market capitalization of $7.31 billion, a price-to-earnings ratio of 11.89, a price-to-earnings-growth ratio of 1.22 and a beta of 1.49. The company has a current ratio of 1.44, a quick ratio of 0.86 and a debt-to-equity ratio of 0.96.

Crocs (NASDAQ:CROX) last issued its quarterly earnings results on Thursday, October 29th. The textile maker reported $3.69 earnings per share for the quarter, topping the consensus estimate of $3.31 by $0.38. Crocs had a return on equity of 49.35% and a net margin of 16.20%. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1 billion. During the same quarter last year, the company earned $2.92 earnings per share. The company’s quarterly revenue was up 4.7% on a year-over-year basis. On average, equities analysts predict that Crocs, Inc. will post 14.62 earnings per share for the current fiscal year.

Insider Activity at Crocs

In related news, Director Beth J. Kaplan bought 885 shares of the company’s stock in a transaction on Tuesday, September 15th. The shares were bought at an average price of $112.12 per share, with a total value of $99,226.20. Following the transaction, the director owned 15,259 shares in the company, valued at approximately $1,710,839.08. This trade represents a 6.16% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ronald Frasch sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, October 30th. The shares were sold at an average price of $153.51, for a total transaction of $2,302,650.00. Following the transaction, the director owned 61,180 shares in the company, valued at $9,391,741.80. The trade was a 19.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 47,645 shares of company stock valued at $6,856,434. Company insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On Crocs

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Alps Advisors Inc. purchased a new stake in Crocs during the 3rd quarter valued at about $610,000. Heritage Family Offices LLP acquired a new position in shares of Crocs in the third quarter valued at about $45,000. Commonwealth Equity Services LLC increased its holdings in shares of Crocs by 3.2% in the third quarter. Commonwealth Equity Services LLC now owns 3,066 shares of the textile maker’s stock valued at $360,000 after purchasing an additional 95 shares during the period. Capital CS Group LLC purchased a new position in shares of Crocs in the third quarter worth about $451,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Crocs in the third quarter worth about $62,000. 93.44% of the stock is currently owned by institutional investors and hedge funds.

Crocs Company Profile

Crocs, Inc is a global footwear company best known for its Crocs brand of casual, lightweight shoes. Its product portfolio includes clogs, sandals, slides, boots and other casual footwear, along with accessories such as Jibbitz charms, which are designed to personalize Crocs shoes.

The company was founded in 2002 and introduced its first clog that year. Crocs has expanded from its original molded footwear into a broader lifestyle brand, offering products for women, men and children through company-operated and third-party retail stores, e-commerce platforms and wholesale partners.

In 2022, Crocs completed its acquisition of HEYDUDE, adding the casual shoe brand to its portfolio.