Crocs (NASDAQ:CROX) Receives New Coverage from Analysts at Wedbush

Wedbush assumed coverage on shares of Crocs (NASDAQ:CROXGet Rating) in a research note published on Thursday morning, The Fly reports. The firm issued an outperform rating and a $90.00 target price on the textile maker’s stock.

Other equities research analysts also recently issued research reports about the company. TheStreet downgraded Crocs from a b- rating to a c+ rating in a report on Friday, February 4th. Robert W. Baird lowered their price target on Crocs from $250.00 to $200.00 in a research note on Thursday, March 3rd. Stifel Nicolaus reduced their price objective on shares of Crocs from $130.00 to $101.00 in a research note on Wednesday, February 16th. Seaport Res Ptn restated a neutral rating on shares of Crocs in a report on Tuesday, January 18th. Finally, B. Riley cut their target price on shares of Crocs from $174.00 to $153.00 and set a buy rating on the stock in a report on Wednesday, January 26th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Buy and a consensus price target of $142.80.

Shares of NASDAQ CROX opened at $67.82 on Thursday. Crocs has a 1 year low of $64.70 and a 1 year high of $183.88. The firm’s 50-day moving average is $75.61 and its 200-day moving average is $116.64. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 54.78. The firm has a market capitalization of $4.18 billion, a PE ratio of 5.95, a price-to-earnings-growth ratio of 0.49 and a beta of 1.85.

Crocs (NASDAQ:CROXGet Rating) last announced its quarterly earnings data on Wednesday, February 16th. The textile maker reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.14. The firm had revenue of $586.63 million for the quarter, compared to analysts’ expectations of $580.71 million. Crocs had a net margin of 31.37% and a return on equity of 201.51%. The business’s revenue for the quarter was up 42.6% on a year-over-year basis. During the same period last year, the firm earned $1.06 earnings per share. As a group, equities research analysts anticipate that Crocs will post 10.16 earnings per share for the current fiscal year.

In other news, Director Thomas J. Smach bought 12,356 shares of the company’s stock in a transaction that occurred on Thursday, February 17th. The shares were acquired at an average price of $86.35 per share, with a total value of $1,066,940.60. Following the transaction, the director now owns 195,636 shares in the company, valued at $16,893,168.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Douglas J. Treff purchased 2,962 shares of Crocs stock in a transaction on Monday, March 14th. The shares were purchased at an average cost of $67.50 per share, with a total value of $199,935.00. The disclosure for this purchase can be found here. Insiders purchased a total of 37,698 shares of company stock worth $3,105,842 over the last ninety days. 2.42% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Crocs during the 4th quarter worth about $32,000. National Bank of Canada FI bought a new stake in Crocs during the fourth quarter worth about $36,000. C M Bidwell & Associates Ltd. acquired a new position in Crocs during the third quarter valued at approximately $41,000. Western Pacific Wealth Management LP acquired a new position in Crocs during the fourth quarter valued at approximately $38,000. Finally, Sageworth Trust Co of South Dakota bought a new position in Crocs in the fourth quarter valued at approximately $44,000. 94.00% of the stock is currently owned by hedge funds and other institutional investors.

Crocs Company Profile (Get Rating)

Crocs, Inc, together with its subsidiaries, designs, develops, manufactures, markets, and distributes casual lifestyle footwear and accessories for men, women, and children. It offers various footwear products, including clogs, sandals, slides, flip-flops, boots, flats, wedges, platforms, socks, shoe charms, loafers, sneakers, and slippers under the Crocs brand name.

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