Crocs (NASDAQ:CROX) Given New $120.00 Price Target at Robert W. Baird

Crocs (NASDAQ:CROXGet Rating) had its price target decreased by analysts at Robert W. Baird from $200.00 to $120.00 in a research report issued to clients and investors on Thursday, The Fly reports. Robert W. Baird’s price target indicates a potential upside of 129.23% from the stock’s previous close.

A number of other research firms have also weighed in on CROX. Loop Capital lowered shares of Crocs from a “buy” rating to a “hold” rating and lowered their target price for the stock from $150.00 to $80.00 in a report on Monday, April 4th. StockNews.com cut shares of Crocs from a “buy” rating to a “hold” rating in a research report on Friday, May 6th. B. Riley cut their target price on shares of Crocs from $153.00 to $128.00 in a research note on Friday, May 6th. Piper Sandler boosted their price objective on shares of Crocs from $215.00 to $246.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 12th. Finally, Wedbush initiated coverage on shares of Crocs in a report on Thursday, April 28th. They set an “outperform” rating and a $90.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Crocs has an average rating of “Buy” and an average price target of $128.10.

Shares of CROX opened at $52.35 on Thursday. The stock has a market cap of $3.22 billion, a PE ratio of 4.71, a PEG ratio of 0.40 and a beta of 1.85. Crocs has a 1 year low of $51.26 and a 1 year high of $183.88. The stock has a 50 day simple moving average of $72.34 and a 200-day simple moving average of $111.86. The company has a current ratio of 1.96, a quick ratio of 1.17 and a debt-to-equity ratio of 8.17.

Crocs (NASDAQ:CROXGet Rating) last released its quarterly earnings results on Thursday, May 5th. The textile maker reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.50. Crocs had a return on equity of 206.72% and a net margin of 27.85%. The firm had revenue of $660.15 million for the quarter, compared to the consensus estimate of $621.81 million. During the same quarter last year, the business posted $1.49 EPS. The company’s revenue for the quarter was up 43.5% on a year-over-year basis. On average, sell-side analysts forecast that Crocs will post 10.47 EPS for the current fiscal year.

In related news, Director Thomas J. Smach acquired 12,356 shares of the firm’s stock in a transaction that occurred on Thursday, February 17th. The stock was acquired at an average cost of $86.35 per share, with a total value of $1,066,940.60. Following the completion of the purchase, the director now directly owns 195,636 shares in the company, valued at $16,893,168.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Douglas J. Treff bought 8,100 shares of the company’s stock in a transaction that occurred on Thursday, February 17th. The shares were bought at an average price of $91.44 per share, for a total transaction of $740,664.00. Following the acquisition, the director now directly owns 87,005 shares of the company’s stock, valued at approximately $7,955,737.20. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 45,298 shares of company stock valued at $3,511,758. 2.38% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. FinTrust Capital Advisors LLC lifted its position in shares of Crocs by 100.0% during the 1st quarter. FinTrust Capital Advisors LLC now owns 400 shares of the textile maker’s stock worth $31,000 after buying an additional 200 shares in the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in Crocs in the 4th quarter valued at approximately $32,000. Koshinski Asset Management Inc. grew its stake in Crocs by 1,716.7% in the 1st quarter. Koshinski Asset Management Inc. now owns 436 shares of the textile maker’s stock valued at $33,000 after buying an additional 412 shares in the last quarter. National Bank of Canada FI purchased a new position in shares of Crocs during the 4th quarter valued at $36,000. Finally, Meeder Asset Management Inc. purchased a new position in shares of Crocs during the 1st quarter valued at $36,000. 90.14% of the stock is currently owned by institutional investors and hedge funds.

About Crocs (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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