Crocs’ (CROX) “Outperform” Rating Reaffirmed at Wedbush

Wedbush reiterated their outperform rating on shares of Crocs (NASDAQ:CROX) in a research note issued to investors on Friday, Benzinga reports. Wedbush currently has a $154.00 price target on the textile maker’s stock.

A number of other research firms have also recently commented on CROX. Raymond James upped their target price on shares of Crocs from $120.00 to $145.00 and gave the company a strong-buy rating in a research report on Friday, February 16th. Stifel Nicolaus lifted their target price on shares of Crocs from $132.00 to $140.00 and gave the company a buy rating in a report on Friday, February 16th. Williams Trading reaffirmed a hold rating and set a $125.00 price target (down from $135.00) on shares of Crocs in a report on Tuesday, April 16th. Piper Sandler upped their price objective on Crocs from $135.00 to $140.00 and gave the company an overweight rating in a research note on Friday, February 16th. Finally, Bank of America boosted their price objective on Crocs from $140.00 to $150.00 and gave the company a buy rating in a research report on Wednesday, March 20th. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Crocs presently has a consensus rating of Moderate Buy and a consensus target price of $144.64.

Crocs Trading Down 1.9 %

Shares of NASDAQ CROX traded down $2.42 during trading hours on Friday, hitting $124.28. 1,423,386 shares of the company traded hands, compared to its average volume of 970,587. The company has a current ratio of 1.30, a quick ratio of 0.75 and a debt-to-equity ratio of 1.13. Crocs has a 12 month low of $74.00 and a 12 month high of $146.79. The stock has a market capitalization of $7.54 billion, a price-to-earnings ratio of 9.70, a price-to-earnings-growth ratio of 1.60 and a beta of 2.03. The company’s 50 day moving average price is $129.12 and its 200 day moving average price is $108.85.

Crocs (NASDAQ:CROX) last announced its quarterly earnings data on Thursday, February 15th. The textile maker reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.20. Crocs had a return on equity of 61.97% and a net margin of 20.00%. The company had revenue of $960.10 million for the quarter, compared to analysts’ expectations of $958.39 million. During the same quarter in the prior year, the firm earned $2.65 earnings per share. Crocs’s revenue was up 1.6% compared to the same quarter last year. On average, equities research analysts anticipate that Crocs will post 12.44 earnings per share for the current fiscal year.

Insider Transactions at Crocs

In related news, Director John B. Replogle purchased 1,972 shares of the stock in a transaction on Thursday, March 14th. The shares were purchased at an average cost of $126.75 per share, for a total transaction of $249,951.00. Following the completion of the transaction, the director now directly owns 3,153 shares of the company’s stock, valued at approximately $399,642.75. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director John B. Replogle purchased 1,972 shares of Crocs stock in a transaction dated Thursday, March 14th. The stock was bought at an average price of $126.75 per share, for a total transaction of $249,951.00. Following the completion of the acquisition, the director now directly owns 3,153 shares of the company’s stock, valued at $399,642.75. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Ian Bickley sold 16,785 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $120.05, for a total transaction of $2,015,039.25. Following the sale, the director now owns 31,815 shares in the company, valued at $3,819,390.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 39,867 shares of company stock valued at $4,786,276. 2.69% of the stock is owned by insiders.

Institutional Trading of Crocs

Institutional investors have recently made changes to their positions in the business. Riverwater Partners LLC lifted its position in Crocs by 1.0% during the 1st quarter. Riverwater Partners LLC now owns 10,725 shares of the textile maker’s stock worth $1,542,000 after buying an additional 104 shares in the last quarter. Byrne Asset Management LLC boosted its position in Crocs by 60.0% during the fourth quarter. Byrne Asset Management LLC now owns 320 shares of the textile maker’s stock valued at $30,000 after purchasing an additional 120 shares during the last quarter. Quadrant Capital Group LLC increased its position in shares of Crocs by 12.3% during the 4th quarter. Quadrant Capital Group LLC now owns 1,151 shares of the textile maker’s stock worth $108,000 after purchasing an additional 126 shares during the last quarter. Fifth Third Bancorp increased its holdings in Crocs by 3.2% during the first quarter. Fifth Third Bancorp now owns 4,060 shares of the textile maker’s stock worth $584,000 after buying an additional 127 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its holdings in shares of Crocs by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 26,720 shares of the textile maker’s stock valued at $2,358,000 after purchasing an additional 140 shares during the period. Institutional investors own 93.44% of the company’s stock.

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.