Crocs, Inc. (NASDAQ:CROX) Receives Consensus Rating of “Buy” from Analysts

Shares of Crocs, Inc. (NASDAQ:CROX) have received a consensus rating of “Buy” from the eleven brokerages that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $34.14.

CROX has been the topic of a number of recent research reports. BidaskClub raised Crocs from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Zacks Investment Research raised their price objective on Crocs to $32.00 in a research report on Wednesday, September 18th. ValuEngine downgraded Crocs from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Monness Crespi & Hardt raised their price objective on Crocs from $32.00 to $44.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Susquehanna Bancshares raised their price objective on Crocs from $35.00 to $38.00 and gave the company a “positive” rating in a research report on Friday, August 2nd.

Shares of Crocs stock traded down $1.19 during trading on Monday, hitting $35.47. 83,131 shares of the stock traded hands, compared to its average volume of 2,262,980. The firm has a market cap of $2.48 billion, a P/E ratio of 41.24 and a beta of 1.03. The company has a current ratio of 1.68, a quick ratio of 1.08 and a debt-to-equity ratio of 2.80. Crocs has a 52-week low of $17.52 and a 52-week high of $39.13. The stock’s fifty day simple moving average is $32.49 and its 200 day simple moving average is $25.32.

Crocs (NASDAQ:CROX) last announced 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 for the quarter, compared to analyst estimates of $302.06 million. During the same quarter last year, the firm posted $0.07 earnings per share. The business’s revenue for the quarter was up 19.8% on a year-over-year basis. As a group, equities analysts expect that Crocs will post 1.62 EPS for the current year.

In related news, major shareholder Holdings L.P. Blackstone III sold 6,864,545 shares of Crocs stock in a transaction dated 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 have recently added to or reduced their stakes in CROX. FMR LLC lifted its holdings in shares of Crocs by 54.2% during the first quarter. FMR LLC now owns 2,846 shares of the textile maker’s stock worth $73,000 after purchasing an additional 1,000 shares during the period. WINTON GROUP Ltd raised its position in Crocs by 41.9% during the second quarter. WINTON GROUP Ltd now owns 21,828 shares of the textile maker’s stock valued at $431,000 after acquiring an additional 6,447 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in Crocs during the second quarter valued at approximately $451,000. Oregon Public Employees Retirement Fund raised its position in Crocs by 1.9% during the second quarter. Oregon Public Employees Retirement Fund now owns 26,371 shares of the textile maker’s stock valued at $521,000 after acquiring an additional 500 shares in the last quarter. Finally, SG Capital Management LLC purchased a new position in Crocs during the second quarter valued at approximately $2,070,000. 98.88% of the stock is owned by hedge funds and other institutional investors.

About Crocs

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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Analyst Recommendations for Crocs (NASDAQ:CROX)

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