Wedbush Reiterates “Outperform” Rating for Crocs (NASDAQ:CROX)

Crocs (NASDAQ:CROX)‘s stock had its “outperform” rating restated by research analysts at Wedbush in a report released on Monday, Benzinga reports. They presently have a $170.00 price target on the textile maker’s stock. Wedbush’s target price points to a potential upside of 29.26% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. Stifel Nicolaus boosted their price target on shares of Crocs from $140.00 to $158.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. B. Riley increased their target price on Crocs from $95.00 to $122.00 and gave the company a “neutral” rating in a research note on Wednesday, April 10th. Bank of America lifted their price target on Crocs from $160.00 to $187.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. UBS Group reduced their price objective on Crocs from $148.00 to $146.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 16th. Finally, Williams Trading restated a “hold” rating and issued a $125.00 target price (down previously from $135.00) on shares of Crocs in a research report on Tuesday, April 16th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $152.82.

Crocs Trading Up 0.8 %

Crocs stock opened at $131.52 on Monday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.14 and a current ratio of 1.76. Crocs has a fifty-two week low of $74.00 and a fifty-two week high of $165.32. The stock has a market cap of $7.98 billion, a P/E ratio of 10.22, a PEG ratio of 1.45 and a beta of 2.00. The firm’s fifty day moving average price is $146.27 and its 200-day moving average price is $130.68.

Crocs (NASDAQ:CROX) last released its quarterly earnings results on Tuesday, May 7th. The textile maker reported $3.02 earnings per share for the quarter, beating the consensus estimate of $2.25 by $0.77. The firm had revenue of $938.60 million for the quarter, compared to analysts’ expectations of $884.29 million. Crocs had a return on equity of 56.33% and a net margin of 19.80%. The company’s revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.61 EPS. Equities research analysts forecast that Crocs will post 12.7 earnings per share for the current fiscal year.

Insider Activity at Crocs

In other Crocs news, Director Thomas J. Smach sold 10,174 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $140.32, for a total value of $1,427,615.68. Following the sale, the director now owns 115,339 shares of the company’s stock, valued at approximately $16,184,368.48. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Thomas J. Smach sold 10,174 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $140.32, for a total transaction of $1,427,615.68. Following the completion of the transaction, the director now owns 115,339 shares in the company, valued at $16,184,368.48. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Andrew Rees sold 10,000 shares of Crocs stock in a transaction on Monday, June 17th. The shares were sold at an average price of $160.15, for a total transaction of $1,601,500.00. Following the completion of the sale, the chief executive officer now owns 79,748 shares in the company, valued at approximately $12,771,642.20. The disclosure for this sale can be found here. Insiders sold 30,178 shares of company stock worth $4,597,445 in the last three months. 2.72% of the stock is owned by insiders.

Institutional Trading of Crocs

Several institutional investors and hedge funds have recently bought and sold shares of the stock. WIT Partners Advisory Pte. Ltd. bought a new stake in shares of Crocs during the fourth quarter valued at approximately $266,431,000. Coatue Management LLC lifted its position in Crocs by 836.7% during the fourth quarter. Coatue Management LLC now owns 1,029,765 shares of the textile maker’s stock valued at $96,190,000 after buying an additional 919,835 shares during the period. Norges Bank bought a new stake in shares of Crocs during the 4th quarter valued at $72,211,000. Patient Capital Management LLC purchased a new stake in shares of Crocs in the 4th quarter worth about $39,420,000. Finally, Goldman Sachs Group Inc. increased its stake in shares of Crocs by 46.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 770,281 shares of the textile maker’s stock worth $71,952,000 after acquiring an additional 245,240 shares in the last quarter. 93.44% of the stock is currently owned by hedge funds and other institutional investors.

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.