Piper Sandler Raises Crocs (NASDAQ:CROX) Price Target to $212.00

Crocs (NASDAQ:CROX) had its target price increased by research analysts at Piper Sandler from $185.00 to $212.00 in a report released on Wednesday, The Fly reports. The firm presently has an “overweight” rating on the textile maker’s stock. Piper Sandler’s target price points to a potential upside of 39.14% from the stock’s previous close.

Several other brokerages have also commented on CROX. Robert W. Baird upped their target price on Crocs from $160.00 to $215.00 and gave the company an “outperform” rating in a research report on Wednesday. They noted that the move was a valuation call. Pivotal Research increased their price target on Crocs from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday, July 20th. Monness Crespi & Hardt increased their price target on Crocs from $160.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday. B. Riley increased their price target on Crocs from $152.00 to $174.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Loop Capital increased their price target on Crocs from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, July 23rd. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $149.44.

Shares of CROX stock traded up $2.98 on Wednesday, hitting $152.36. The company had a trading volume of 60,183 shares, compared to its average volume of 1,313,900. The firm has a market cap of $9.51 billion, a P/E ratio of 15.24, a P/E/G ratio of 1.42 and a beta of 1.83. The stock’s 50-day moving average is $134.72 and its two-hundred day moving average is $108.33. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.23 and a current ratio of 1.78. Crocs has a twelve month low of $40.12 and a twelve month high of $157.80.

Crocs (NASDAQ:CROX) last issued its quarterly earnings results on Thursday, July 22nd. The textile maker reported $2.23 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.61. Crocs had a return on equity of 126.41% and a net margin of 35.35%. The company had revenue of $640.77 million during the quarter, compared to analysts’ expectations of $562.61 million. During the same quarter in the prior year, the firm posted $1.01 earnings per share. The business’s quarterly revenue was up 93.3% on a year-over-year basis. Equities research analysts predict that Crocs will post 6.78 EPS for the current year.

In other Crocs news, EVP Elaine L. Boltz sold 9,296 shares of the firm’s stock in a transaction on Tuesday, July 27th. The stock was sold at an average price of $129.39, for a total value of $1,202,809.44. Following the completion of the sale, the executive vice president now directly owns 103,398 shares of the company’s stock, valued at $13,378,667.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Michelle Poole sold 4,273 shares of the firm’s stock in a transaction on Monday, August 9th. The stock was sold at an average price of $141.48, for a total value of $604,544.04. The disclosure for this sale can be found here. Company insiders own 2.38% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Grandview Asset Management LLC bought a new stake in Crocs during the first quarter valued at $25,000. Sowell Financial Services LLC bought a new stake in Crocs during the first quarter worth about $30,000. Exchange Traded Concepts LLC bought a new stake in Crocs during the second quarter worth about $42,000. FMR LLC lifted its stake in Crocs by 54.2% during the first quarter. FMR LLC now owns 2,846 shares of the textile maker’s stock worth $73,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Archer Investment Corp lifted its stake in Crocs by 16.1% during the second quarter. Archer Investment Corp now owns 723 shares of the textile maker’s stock worth $84,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 91.87% of the company’s stock.

Crocs Company Profile

Crocs, Inc engages in the design, development, manufacturing, worldwide marketing, sale and distribution of casual footwear, apparel, and accessories for men, women, and children. It operates through the following segments: Americas, Asia Pacific and Europe, Middle East & Africa (EMEA). The Americas segment consists of the revenues and expenses related to product sales in North and South America.

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