Shares of Crocs, Inc. (NASDAQ:CROX) have received a consensus recommendation of “Buy” from the eleven brokerages that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $35.57.
A number of brokerages recently commented on CROX. Monness Crespi & Hardt upped their target price on Crocs from $32.00 to $44.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. BidaskClub upgraded shares of Crocs from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Zacks Investment Research boosted their price target on shares of Crocs to $32.00 in a report on Wednesday, September 18th. Piper Jaffray Companies restated a “buy” rating and issued a $44.00 price objective on shares of Crocs in a research note on Monday, November 25th. Finally, Pivotal Research reiterated a “buy” rating and issued a $39.00 price target on shares of Crocs in a research report on Monday, October 28th.
CROX stock traded up $1.40 during trading on Friday, reaching $40.66. 965,214 shares of the stock were exchanged, compared to its average volume of 1,595,914. Crocs has a twelve month low of $17.52 and a twelve month high of $40.05. The company has a current ratio of 1.68, a quick ratio of 1.08 and a debt-to-equity ratio of 2.80. The company has a market capitalization of $2.73 billion, a P/E ratio of 47.28, a price-to-earnings-growth ratio of 1.49 and a beta of 0.98. The stock has a 50 day simple moving average of $35.81 and a 200-day simple moving average of $27.34.
Crocs (NASDAQ:CROX) last posted its quarterly earnings results on Wednesday, October 30th. The textile maker reported $0.57 EPS for the quarter, beating the consensus estimate of $0.41 by $0.16. Crocs had a return on equity of 78.24% and a net margin of 7.49%. The firm had revenue of $312.80 million during the quarter, compared to analysts’ expectations of $302.06 million. During the same quarter in the prior year, the firm posted $0.07 EPS. The company’s revenue for the quarter was up 19.8% on a year-over-year basis. Equities analysts predict that Crocs will post 1.62 EPS for the current year.
In other news, major shareholder Holdings L.P. Blackstone III sold 6,864,545 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $35.42, for a total transaction of $243,142,183.90. Insiders own 2.42% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC boosted its position in Crocs by 54.2% in the 1st quarter. FMR LLC now owns 2,846 shares of the textile maker’s stock valued at $73,000 after buying an additional 1,000 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its position in Crocs by 127.9% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 57,345 shares of the textile maker’s stock worth $1,133,000 after purchasing an additional 32,185 shares during the period. KBC Group NV increased its position in Crocs by 4.2% in the second quarter. KBC Group NV now owns 120,818 shares of the textile maker’s stock worth $2,386,000 after purchasing an additional 4,907 shares during the period. Comerica Bank increased its position in Crocs by 55.3% in the second quarter. Comerica Bank now owns 102,961 shares of the textile maker’s stock worth $2,322,000 after purchasing an additional 36,684 shares during the period. Finally, Swiss National Bank raised its holdings in Crocs by 0.8% during the 2nd quarter. Swiss National Bank now owns 122,800 shares of the textile maker’s stock worth $2,425,000 after purchasing an additional 1,000 shares during the last quarter.
Crocs Company Profile
Crocs, Inc, together with its subsidiaries, designs, develops, manufactures, markets, and distributes casual lifestyle footwear and accessories for men, women, and children worldwide. It offers various footwear products, including clogs, sandals, flips and slides, shoes, and boots under the Crocs brand name.
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