Crocs Upgraded to “Buy” by Monness Crespi & Hardt (CROX)
Crocs (NASDAQ:CROX) was upgraded by stock analysts at Monness Crespi & Hardt from a “neutral” rating to a “buy” rating in a report issued on Thursday, American Banking News.com reports. The firm currently has a $22.00 price objective on the stock. Monness Crespi & Hardt’s price objective would indicate a potential upside of 38.19% from the stock’s previous close.
Crocs (NASDAQ:CROX) opened at 15.92 on Thursday. Crocs has a 52-week low of $11.96 and a 52-week high of $17.95. The stock’s 50-day moving average is $13.42 and its 200-day moving average is $14.06. The company has a market cap of $1.408 billion and a P/E ratio of 19.32. Crocs also was the recipient of some unusual options trading activity on Monday. Investors purchased 11,861 call options on the company. This is an increase of 594% compared to the average volume of 1,710 call options.
Crocs (NASDAQ:CROX) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.18 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.18. The company had revenue of $288.50 million for the quarter, compared to the consensus estimate of $291.70 million. During the same quarter in the prior year, the company posted $0.49 earnings per share. The company’s quarterly revenue was down 2.4% on a year-over-year basis. Analysts expect that Crocs will post $0.81 EPS for the current fiscal year.
A number of other firms have also recently commented on CROX. Analysts at Imperial Capital raised their price target on shares of Crocs from $14.00 to $16.00 in a research note to investors on Tuesday. They now have an “in-line” rating on the stock. Separately, analysts at Stifel Nicolaus reiterated a “buy” rating on shares of Crocs in a research note to investors on Monday. Finally, analysts at Sterne Agee upgraded shares of Crocs from an “underperform” rating to a “neutral” rating in a research note to investors on Monday. They now have a $10.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. Crocs currently has an average rating of “Hold” and a consensus price target of $16.03.
Crocs, Inc is a designer, manufacturer and distributor of footwear and accessories for men, women and children.
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