Crocs, Inc. (NASDAQ:CROX) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Crocs, Inc. (NASDAQ:CROX) have received a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are currently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $141.55.

Several research firms have recently issued reports on CROX. B. Riley lifted their price objective on shares of Crocs from $95.00 to $122.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 10th. UBS Group increased their price objective on Crocs from $117.00 to $124.00 and gave the company a “neutral” rating in a report on Tuesday, April 23rd. OTR Global upgraded Crocs from a “mixed” rating to a “positive” rating in a research note on Thursday, April 11th. Bank of America upped their target price on shares of Crocs from $140.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Finally, Piper Sandler raised their price objective on Crocs from $135.00 to $140.00 and gave the stock an “overweight” rating in a report on Friday, February 16th.

Crocs Stock Up 1.8 %

Shares of NASDAQ CROX opened at $127.69 on Tuesday. The stock has a market cap of $7.75 billion, a P/E ratio of 9.97, a PEG ratio of 1.58 and a beta of 2.01. The business’s fifty day simple moving average is $128.48 and its 200-day simple moving average is $108.06. Crocs has a 12-month low of $74.00 and a 12-month high of $146.79. The company has a current ratio of 1.30, a quick ratio of 0.75 and a debt-to-equity ratio of 1.13.

Crocs (NASDAQ:CROX) last announced its quarterly earnings data on Thursday, February 15th. The textile maker reported $2.58 EPS for the quarter, topping analysts’ consensus estimates of $2.38 by $0.20. Crocs had a return on equity of 61.97% and a net margin of 20.00%. The business had revenue of $960.10 million during the quarter, compared to the consensus estimate of $958.39 million. During the same period in the previous year, the company posted $2.65 earnings per share. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, equities analysts predict that Crocs will post 12.44 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, President Michelle Poole sold 4,793 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $119.15, for a total transaction of $571,085.95. Following the sale, the president now owns 64,912 shares of the company’s stock, valued at $7,734,264.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Ian Bickley sold 16,785 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $120.05, for a total value of $2,015,039.25. Following the completion of the transaction, the director now owns 31,815 shares in the company, valued at $3,819,390.75. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, President Michelle Poole sold 4,793 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $119.15, for a total transaction of $571,085.95. Following the completion of the sale, the president now owns 64,912 shares in the company, valued at $7,734,264.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 39,867 shares of company stock worth $4,786,276. Corporate insiders own 2.69% of the company’s stock.

Hedge Funds Weigh In On Crocs

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Riverwater Partners LLC increased its stake in shares of Crocs by 1.0% during the 1st quarter. Riverwater Partners LLC now owns 10,725 shares of the textile maker’s stock worth $1,542,000 after purchasing an additional 104 shares in the last quarter. Byrne Asset Management LLC increased its position in Crocs by 60.0% during the fourth quarter. Byrne Asset Management LLC now owns 320 shares of the textile maker’s stock worth $30,000 after buying an additional 120 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in shares of Crocs by 12.3% in the fourth quarter. Quadrant Capital Group LLC now owns 1,151 shares of the textile maker’s stock worth $108,000 after acquiring an additional 126 shares during the last quarter. Fifth Third Bancorp lifted its position in shares of Crocs by 3.2% in the first quarter. Fifth Third Bancorp now owns 4,060 shares of the textile maker’s stock valued at $584,000 after acquiring an additional 127 shares in the last quarter. Finally, Treasurer of the State of North Carolina boosted its stake in shares of Crocs by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 26,720 shares of the textile maker’s stock valued at $2,358,000 after acquiring an additional 140 shares during the last quarter. Institutional investors and hedge funds own 93.44% of the company’s stock.

Crocs Company Profile

Crocs, Inc, together with its subsidiaries, designs, develops, manufactures, markets, distributes, and sells casual lifestyle footwear and accessories for men, women, and children under Crocs and HEYDUDE Brand in the United States and internationally. The company offers various footwear products, including clogs, sandals, slides, flips, wedges, platforms, socks, boots, charms, flip flops, sneakers, and slippers.