Crocs’ (CROX) “Hold” Rating Reiterated at Stifel Nicolaus
Crocs, Inc. (NASDAQ:CROX)‘s stock had its “hold” rating reiterated by stock analysts at Stifel Nicolaus in a report issued on Saturday. They currently have a $8.00 price objective on the textile maker’s stock, up from their prior price objective of $7.00. Stifel Nicolaus’ price target would indicate a potential upside of 2.70% from the stock’s previous close.
Several other analysts also recently weighed in on CROX. B. Riley reissued a “neutral” rating and issued a $8.00 target price on shares of Crocs in a report on Monday, May 8th. BidaskClub downgraded Crocs from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Piper Jaffray Companies reissued a “hold” rating and issued a $7.00 target price on shares of Crocs in a report on Friday, July 14th. TheStreet raised Crocs from a “d” rating to a “c-” rating in a report on Wednesday, June 21st. Finally, Susquehanna Bancshares Inc reissued a “neutral” rating and issued a $7.00 target price (up from $6.00) on shares of Crocs in a report on Friday, May 12th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. Crocs currently has an average rating of “Hold” and an average target price of $8.20.
Shares of Crocs (NASDAQ CROX) traded up 0.13% on Friday, hitting $7.79. The stock had a trading volume of 855,030 shares. The firm’s 50-day moving average price is $7.40 and its 200 day moving average price is $6.90. The firm’s market cap is $577.11 million. Crocs has a 52-week low of $5.93 and a 52-week high of $11.74.
Crocs (NASDAQ:CROX) last posted its earnings results on Wednesday, May 10th. The textile maker reported $0.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.08. Crocs had a negative return on equity of 4.89% and a negative net margin of 1.52%. The business had revenue of $267.90 million during the quarter, compared to the consensus estimate of $258.10 million. During the same period in the previous year, the business earned $0.07 EPS. The business’s quarterly revenue was down 4.0% on a year-over-year basis. On average, equities research analysts predict that Crocs will post ($0.04) EPS for the current year.
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A number of hedge funds have recently bought and sold shares of the stock. PineBridge Investments L.P. increased its stake in Crocs by 7.5% in the second quarter. PineBridge Investments L.P. now owns 9,303 shares of the textile maker’s stock valued at $105,000 after buying an additional 647 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in Crocs by 14.8% in the second quarter. Public Employees Retirement System of Ohio now owns 9,506 shares of the textile maker’s stock valued at $107,000 after buying an additional 1,229 shares in the last quarter. Geduld E E bought a new stake in Crocs during the second quarter valued at approximately $113,000. Teacher Retirement System of Texas increased its stake in Crocs by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 10,314 shares of the textile maker’s stock valued at $116,000 after buying an additional 1,247 shares in the last quarter. Finally, CSS LLC IL bought a new stake in Crocs during the third quarter valued at approximately $115,000. 90.96% of the stock is owned by hedge funds and other 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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