Brokerages Set Crocs, Inc. (NASDAQ:CROX) Price Target at $148.80

Crocs, Inc. (NASDAQ:CROX) has been given a consensus recommendation of “Moderate Buy” by the sixteen brokerages that are currently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $148.80.

CROX has been the topic of several research reports. StockNews.com raised Crocs from a “hold” rating to a “buy” rating in a report on Friday, January 3rd. Raymond James cut Crocs from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. Barclays cut their target price on shares of Crocs from $164.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. Needham & Company LLC assumed coverage on shares of Crocs in a research note on Friday, November 22nd. They set a “buy” rating and a $116.00 price target on the stock. Finally, Monness Crespi & Hardt dropped their price objective on shares of Crocs from $170.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th.

Crocs Price Performance

Shares of Crocs stock opened at $109.68 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. Crocs has a 52 week low of $94.50 and a 52 week high of $165.32. The stock’s 50-day simple moving average is $107.34 and its 200-day simple moving average is $126.47. The company has a market capitalization of $6.39 billion, a price-to-earnings ratio of 7.95, a PEG ratio of 1.14 and a beta of 1.95.

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

Insider Activity

In related news, CFO Susan L. Healy purchased 1,000 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was purchased at an average price of $99.70 per share, with a total value of $99,700.00. Following the completion of the purchase, the chief financial officer now owns 22,652 shares of the company’s stock, valued at approximately $2,258,404.40. The trade was a 4.62 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John B. Replogle acquired 2,240 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was purchased at an average cost of $112.60 per share, for a total transaction of $252,224.00. Following the purchase, the director now owns 9,304 shares of the company’s stock, valued at $1,047,630.40. This represents a 31.71 % 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.

Hedge Funds Weigh In On Crocs

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Nordea Investment Management AB lifted its stake in Crocs by 4.0% in the fourth quarter. Nordea Investment Management AB now owns 46,753 shares of the textile maker’s stock worth $5,156,000 after acquiring an additional 1,816 shares during the period. Central Pacific Bank Trust Division lifted its position in shares of Crocs by 32.6% in the 4th quarter. Central Pacific Bank Trust Division now owns 1,790 shares of the textile maker’s stock worth $196,000 after purchasing an additional 440 shares during the period. Franklin Resources Inc. boosted its stake in shares of Crocs by 31.1% during the third quarter. Franklin Resources Inc. now owns 46,600 shares of the textile maker’s stock valued at $6,497,000 after purchasing an additional 11,056 shares in the last quarter. Tidal Investments LLC increased its holdings in Crocs by 64.5% during the third quarter. Tidal Investments LLC now owns 21,674 shares of the textile maker’s stock valued at $3,139,000 after buying an additional 8,498 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new position in Crocs in the third quarter worth approximately $73,000. 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.