Crocs (NASDAQ:CROX) Receives Buy Rating from Guggenheim

Crocs (NASDAQ:CROX)‘s stock had its “buy” rating restated by stock analysts at Guggenheim in a note issued to investors on Friday,Benzinga reports. They currently have a $155.00 price objective on the textile maker’s stock. Guggenheim’s price target would indicate a potential upside of 39.29% from the company’s previous close.

A number of other equities analysts have also recently commented on CROX. UBS Group cut their price target on shares of Crocs from $146.00 to $122.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. Monness Crespi & Hardt reduced their target price on Crocs from $170.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. KeyCorp lowered their price target on Crocs from $155.00 to $150.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Robert W. Baird reduced their price objective on Crocs from $190.00 to $180.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Finally, Loop Capital cut shares of Crocs from a “buy” rating to a “hold” rating and reduced their price target for the company from $150.00 to $110.00 in a research report on Thursday, November 7th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Crocs has a consensus rating of “Moderate Buy” and an average target price of $148.80.

Crocs Price Performance

Shares of Crocs stock traded up $1.37 during trading on Friday, hitting $111.28. The stock had a trading volume of 389,365 shares, compared to its average volume of 1,347,536. The firm has a market cap of $6.49 billion, a price-to-earnings ratio of 8.07, a P/E/G ratio of 1.12 and a beta of 1.98. Crocs has a 12 month low of $85.71 and a 12 month high of $165.32. The business’s 50-day moving average is $119.19 and its 200 day moving average is $133.68. The company has a current ratio of 1.43, a quick ratio of 0.90 and a debt-to-equity ratio of 0.82.

Crocs (NASDAQ:CROX) last released its quarterly earnings results on Tuesday, October 29th. The textile maker reported $3.60 earnings per share for the quarter, beating the consensus estimate of $3.10 by $0.50. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Crocs had a return on equity of 49.70% and a net margin of 20.50%. The company’s revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the firm posted $3.25 EPS. As a group, sell-side analysts anticipate that Crocs will post 12.93 earnings per share for the current year.

Insider Buying and Selling at Crocs

In other Crocs news, Director John B. Replogle bought 2,240 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were purchased at an average price of $112.60 per share, for a total transaction of $252,224.00. Following the acquisition, the director now owns 9,304 shares in the company, valued at approximately $1,047,630.40. This represents a 31.71 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Susan L. Healy bought 1,000 shares of Crocs stock in a transaction dated Wednesday, November 13th. The stock was acquired at an average cost of $99.70 per share, for a total transaction of $99,700.00. Following the completion of the transaction, the chief financial officer now directly owns 22,652 shares in the company, valued at approximately $2,258,404.40. This trade represents a 4.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.72% of the company’s stock.

Institutional Trading of Crocs

Several hedge funds and other institutional investors have recently made changes to their positions in CROX. GHP Investment Advisors Inc. grew its stake in shares of Crocs by 375.0% in the second quarter. GHP Investment Advisors Inc. now owns 228 shares of the textile maker’s stock worth $33,000 after acquiring an additional 180 shares during the last quarter. Financial Management Professionals Inc. grew its position in Crocs by 11,200.0% during the 3rd quarter. Financial Management Professionals Inc. now owns 226 shares of the textile maker’s stock valued at $33,000 after purchasing an additional 224 shares during the last quarter. UMB Bank n.a. increased its stake in Crocs by 64.9% during the 3rd quarter. UMB Bank n.a. now owns 305 shares of the textile maker’s stock valued at $44,000 after purchasing an additional 120 shares in the last quarter. V Square Quantitative Management LLC raised its holdings in Crocs by 83.0% in the third quarter. V Square Quantitative Management LLC now owns 313 shares of the textile maker’s stock worth $45,000 after buying an additional 142 shares during the last quarter. Finally, Avior Wealth Management LLC lifted its stake in shares of Crocs by 109.5% in the third quarter. Avior Wealth Management LLC now owns 398 shares of the textile maker’s stock worth $58,000 after buying an additional 208 shares in the last quarter. Hedge funds and other institutional investors 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.