Crocs (NASDAQ:CROX) Upgraded at StockNews.com

StockNews.com upgraded shares of Crocs (NASDAQ:CROX) from a hold rating to a buy rating in a research report released on Tuesday.

A number of other analysts also recently commented on the stock. Bank of America increased their price objective on shares of Crocs from $160.00 to $187.00 and gave the company a “buy” rating in a report on Thursday, June 20th. Wedbush reiterated an “outperform” rating and set a $170.00 price objective on shares of Crocs in a research report on Monday, July 29th. UBS Group dropped their target price on Crocs from $148.00 to $146.00 and set a “neutral” rating for the company in a report on Tuesday, July 16th. Barclays reduced their price target on Crocs from $169.00 to $164.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Finally, Williams Trading raised shares of Crocs from a “hold” rating to a “buy” rating and upped their price objective for the company from $135.00 to $163.00 in a report on Thursday, August 22nd. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Crocs presently has an average rating of “Moderate Buy” and an average price target of $162.58.

Crocs Price Performance

Shares of Crocs stock opened at $136.09 on Tuesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.50 and a quick ratio of 0.95. The business has a 50 day simple moving average of $138.11 and a two-hundred day simple moving average of $138.70. The stock has a market capitalization of $8.26 billion, a P/E ratio of 10.53, a PEG ratio of 1.35 and a beta of 1.99. Crocs has a 12 month low of $74.00 and a 12 month high of $165.32.

Crocs (NASDAQ:CROX) last announced its earnings results on Thursday, August 1st. The textile maker reported $4.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.59 by $0.42. The company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Crocs had a net margin of 20.02% and a return on equity of 53.20%. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.59 EPS. As a group, analysts predict that Crocs will post 12.88 EPS for the current fiscal year.

Insider Buying and Selling at Crocs

In other news, Director John B. Replogle purchased 1,996 shares of the stock in a transaction dated Friday, August 2nd. The stock was acquired at an average cost of $123.96 per share, for a total transaction of $247,424.16. Following the completion of the transaction, the director now directly owns 7,064 shares in the company, valued at approximately $875,653.44. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director John B. Replogle bought 1,996 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were purchased at an average price of $123.96 per share, with a total value of $247,424.16. Following the purchase, the director now owns 7,064 shares in the company, valued at approximately $875,653.44. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Douglas J. Treff sold 10,594 shares of Crocs stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $132.38, for a total value of $1,402,433.72. Following the completion of the transaction, the director now directly owns 81,254 shares of the company’s stock, valued at approximately $10,756,404.52. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.72% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Crocs

A number of hedge funds have recently added to or reduced their stakes in CROX. Nordea Investment Management AB raised its stake in shares of Crocs by 17.0% in the first quarter. Nordea Investment Management AB now owns 51,189 shares of the textile maker’s stock valued at $7,292,000 after acquiring an additional 7,448 shares in the last quarter. Alaska Permanent Fund Corp raised its position in Crocs by 282.2% in the 1st quarter. Alaska Permanent Fund Corp now owns 15,478 shares of the textile maker’s stock valued at $2,226,000 after purchasing an additional 11,428 shares in the last quarter. Boston Partners purchased a new position in shares of Crocs in the 1st quarter valued at about $10,771,000. Global Assets Advisory LLC acquired a new position in shares of Crocs during the first quarter worth about $7,399,000. Finally, Russell Investments Group Ltd. increased its stake in shares of Crocs by 78.2% during the first quarter. Russell Investments Group Ltd. now owns 35,142 shares of the textile maker’s stock worth $5,053,000 after buying an additional 15,418 shares during the period. 93.44% of the stock is currently owned by institutional investors and hedge funds.

About Crocs

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.