Crocs, Inc. (NASDAQ:CROX) Sees Significant Increase in Short Interest

Crocs, Inc. (NASDAQ:CROX) saw a significant growth in short interest during the month of November. As of November 30th, there was short interest totalling 4,540,000 shares, a growth of 6.1% from the November 15th total of 4,280,000 shares. Approximately 8.1% of the company’s shares are sold short. Based on an average trading volume of 1,400,000 shares, the days-to-cover ratio is currently 3.2 days.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CROX shares. Robert W. Baird lowered their price objective on shares of Crocs from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Raymond James lowered Crocs from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. StockNews.com downgraded Crocs from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Needham & Company LLC began coverage on Crocs in a report on Friday, November 22nd. They issued a “buy” rating and a $116.00 target price for the company. Finally, Guggenheim restated a “buy” rating and set a $155.00 price target on shares of Crocs in a research note on Friday, December 6th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $148.80.

Insiders Place Their Bets

In other news, CFO Susan L. Healy bought 1,000 shares of the stock in a transaction dated Wednesday, November 13th. The stock was purchased at an average price of $99.70 per share, for a total transaction of $99,700.00. Following the acquisition, the chief financial officer now owns 22,652 shares of the company’s stock, valued at $2,258,404.40. The trade was a 4.62 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John B. Replogle acquired 2,240 shares of Crocs 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 completion of the transaction, the director now directly owns 9,304 shares in the company, valued at $1,047,630.40. This trade represents a 31.71 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.72% of the stock is currently owned by insiders.

Institutional Trading of Crocs

Large investors have recently bought and sold shares of the stock. Franklin Resources Inc. raised its holdings in shares of Crocs by 31.1% in the third quarter. Franklin Resources Inc. now owns 46,600 shares of the textile maker’s stock worth $6,497,000 after buying an additional 11,056 shares during the last quarter. Tidal Investments LLC raised its stake in Crocs by 64.5% in the 3rd quarter. Tidal Investments LLC now owns 21,674 shares of the textile maker’s stock worth $3,139,000 after acquiring an additional 8,498 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Crocs during the 3rd quarter worth about $73,000. World Investment Advisors LLC purchased a new stake in Crocs during the 3rd quarter valued at about $211,000. Finally, TD Private Client Wealth LLC increased its holdings in shares of Crocs by 21.0% in the third quarter. TD Private Client Wealth LLC now owns 1,245 shares of the textile maker’s stock valued at $180,000 after purchasing an additional 216 shares during the period. Hedge funds and other institutional investors own 93.44% of the company’s stock.

Crocs Stock Up 2.4 %

NASDAQ CROX traded up $2.59 on Tuesday, hitting $111.55. The stock had a trading volume of 1,328,204 shares, compared to its average volume of 1,348,910. The business’s fifty day moving average price is $115.01 and its 200 day moving average price is $131.68. The stock has a market cap of $6.50 billion, a price-to-earnings ratio of 8.09, a price-to-earnings-growth ratio of 1.14 and a beta of 1.98. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.90. Crocs has a 52-week low of $85.71 and a 52-week high of $165.32.

Crocs (NASDAQ:CROX) last announced its 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. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. Crocs had a return on equity of 49.70% and a net margin of 20.50%. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the previous year, the business earned $3.25 EPS. Equities research analysts anticipate that Crocs will post 12.93 earnings per share for the current year.

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.