Crocs (NASDAQ:CROX) Trading Up 3.4% After Analyst Upgrade


Share on StockTwits

Crocs, Inc. (NASDAQ:CROX) was up 3.4% on Tuesday after Piper Sandler raised their price target on the stock from $104.00 to $140.00. Piper Sandler currently has an overweight rating on the stock. Crocs traded as high as $102.35 and last traded at $101.44. Approximately 29,182 shares changed hands during trading, a decline of 98% from the average daily volume of 1,224,886 shares. The stock had previously closed at $98.13.

CROX has been the subject of a number of other reports. B. Riley lifted their target price on Crocs from $93.00 to $113.00 and gave the company a “strong sell” rating in a research report on Wednesday, April 28th. Pivotal Research lifted their target price on Crocs from $92.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, March 3rd. UBS Group lifted their target price on Crocs from $75.00 to $85.00 and gave the company a “neutral” rating in a research report on Wednesday, February 17th. They noted that the move was a valuation call. Robert W. Baird lifted their target price on Crocs from $100.00 to $135.00 and gave the company an “outperform” rating in a research report on Wednesday, April 28th. They noted that the move was a valuation call. Finally, Loop Capital lifted their price target on Crocs from $95.00 to $130.00 in a report on Wednesday, April 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Crocs presently has a consensus rating of “Buy” and a consensus price target of $99.40.

In related news, CEO Andrew Rees sold 40,000 shares of the business’s stock in a transaction on Tuesday, February 9th. The stock was sold at an average price of $80.35, for a total transaction of $3,214,000.00. Following the transaction, the chief executive officer now directly owns 937,307 shares in the company, valued at approximately $75,312,617.45. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Anne Mehlman sold 11,016 shares of the business’s stock in a transaction on Monday, March 15th. The stock was sold at an average price of $82.21, for a total value of $905,625.36. Following the transaction, the chief financial officer now owns 131,179 shares in the company, valued at $10,784,225.59. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 151,016 shares of company stock worth $13,706,025. 2.32% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the stock. Tsfg LLC acquired a new stake in Crocs during the 4th quarter worth about $31,000. Vantage Consulting Group Inc acquired a new stake in Crocs during the 4th quarter worth about $33,000. Archer Investment Corp acquired a new stake in Crocs during the 4th quarter worth about $39,000. Optimum Investment Advisors acquired a new stake in Crocs during the 4th quarter worth about $47,000. Finally, Whittier Trust Co. acquired a new stake in Crocs during the 1st quarter worth about $48,000. Hedge funds and other institutional investors own 95.34% of the company’s stock.

The stock has a 50-day simple moving average of $82.57 and a 200 day simple moving average of $70.93. The company has a current ratio of 1.70, a quick ratio of 1.07 and a debt-to-equity ratio of 0.59. The company has a market cap of $6.76 billion, a price-to-earnings ratio of 47.35, a PEG ratio of 1.35 and a beta of 1.77.

Crocs (NASDAQ:CROX) last issued its quarterly earnings data on Monday, April 26th. The textile maker reported $1.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.61. The business had revenue of $460.10 million during the quarter, compared to analysts’ expectations of $413.30 million. Crocs had a return on equity of 102.93% and a net margin of 12.08%. The company’s revenue for the quarter was up 63.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.22 EPS. As a group, research analysts forecast that Crocs, Inc. will post 2.93 EPS for the current fiscal year.

Crocs Company Profile (NASDAQ:CROX)

Crocs, Inc, together with its subsidiaries, designs, develops, manufactures, markets, and distributes casual lifestyle footwear and accessories for men, women, and children. It offers various footwear products, including sandals, wedges, flips, slides clogs, charms, and shoes under the Crocs brand name.

Further Reading: Diversification Important in Investing

Receive News & Ratings for Crocs Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crocs and related companies with MarketBeat.com's FREE daily email newsletter.