Crocs, Inc. (CROX) Upgraded to “Strong-Buy” by BidaskClub
Crocs, Inc. (NASDAQ:CROX) was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Friday.
A number of other research firms also recently weighed in on CROX. B. Riley reaffirmed a “neutral” rating and issued a $8.00 price target on shares of Crocs in a research note on Monday, May 8th. ValuEngine raised shares of Crocs from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $9.00 price target on shares of Crocs in a research note on Wednesday, August 9th. Zacks Investment Research downgraded shares of Crocs from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 9th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $8.00 price target (up from $7.00) on shares of Crocs in a research note on Saturday, July 22nd. Five equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $8.60.
Crocs (NASDAQ:CROX) traded down 3.37% during midday trading on Friday, reaching $8.88. The company’s stock had a trading volume of 1,465,677 shares. Crocs has a 12 month low of $5.93 and a 12 month high of $9.70. The stock’s 50-day moving average price is $8.06 and its 200-day moving average price is $7.09. The firm’s market capitalization is $637.24 million.
Crocs (NASDAQ:CROX) last posted its quarterly earnings results on Wednesday, August 9th. The textile maker reported $0.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.12. Crocs had a negative net margin of 0.91% and a negative return on equity of 3.36%. The business had revenue of $313.20 million for the quarter, compared to the consensus estimate of $311.33 million. During the same period in the prior year, the business posted $0.16 earnings per share. Crocs’s revenue for the quarter was down 3.3% compared to the same quarter last year. Analysts predict that Crocs will post ($0.03) EPS for the current year.
A number of institutional investors have recently bought and sold shares of the company. Ameriprise Financial Inc. increased its position in Crocs by 1.5% in the first quarter. Ameriprise Financial Inc. now owns 1,003,918 shares of the textile maker’s stock valued at $7,097,000 after buying an additional 15,030 shares during the last quarter. Great West Life Assurance Co. Can increased its position in Crocs by 7.4% in the first quarter. Great West Life Assurance Co. Can now owns 106,681 shares of the textile maker’s stock valued at $754,000 after buying an additional 7,353 shares during the last quarter. Capital Fund Management S.A. acquired a new position in Crocs during the first quarter valued at approximately $111,000. Russell Investments Group Ltd. increased its position in Crocs by 46.7% in the first quarter. Russell Investments Group Ltd. now owns 168,397 shares of the textile maker’s stock valued at $1,190,000 after buying an additional 53,636 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in Crocs by 53.1% in the first quarter. Renaissance Technologies LLC now owns 2,127,636 shares of the textile maker’s stock valued at $15,042,000 after buying an additional 737,636 shares during the last quarter. 90.27% of the stock is currently owned by hedge funds and other institutional investors.
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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