Crocs (NASDAQ:CROX) Upgraded to “Hold” at StockNews.com

Crocs (NASDAQ:CROXGet Rating) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

CROX has been the subject of several other reports. UBS Group cut their price target on Crocs from $73.00 to $59.00 and set a “neutral” rating for the company in a research note on Friday, July 15th. Stifel Nicolaus cut their price target on Crocs from $59.00 to $54.00 in a research note on Wednesday, July 20th. Loop Capital upgraded Crocs from a “hold” rating to a “buy” rating and boosted their price target for the company from $52.42 to $75.00 in a research note on Tuesday, July 5th. Wedbush began coverage on Crocs in a research note on Thursday, April 28th. They issued an “outperform” rating and a $90.00 price target for the company. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $90.00 price target on shares of Crocs in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $94.25.

Crocs Trading Up 6.6 %

Shares of NASDAQ:CROX opened at $73.61 on Friday. Crocs has a 12-month low of $46.08 and a 12-month high of $183.88. The stock has a market cap of $4.53 billion, a PE ratio of 6.63, a P/E/G ratio of 0.49 and a beta of 2.02. The business has a 50 day moving average of $57.01 and a 200-day moving average of $70.46. The company has a quick ratio of 1.19, a current ratio of 1.96 and a debt-to-equity ratio of 8.17.

Crocs (NASDAQ:CROXGet Rating) last issued its quarterly earnings data on Thursday, August 4th. The textile maker reported $3.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.73 by $0.51. Crocs had a return on equity of 206.72% and a net margin of 27.85%. The company had revenue of $964.60 million during the quarter, compared to analysts’ expectations of $938.93 million. During the same quarter in the previous year, the company posted $2.23 earnings per share. The business’s revenue was up 50.6% on a year-over-year basis. As a group, equities research analysts forecast that Crocs will post 10.48 earnings per share for the current year.

Insider Buying and Selling at Crocs

In other news, CFO Anne Mehlman acquired 2,600 shares of the stock in a transaction on Monday, May 9th. The stock was acquired at an average cost of $54.91 per share, for a total transaction of $142,766.00. Following the completion of the transaction, the chief financial officer now directly owns 121,153 shares in the company, valued at $6,652,511.23. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Thomas J. Smach purchased 5,000 shares of the stock in a transaction dated Wednesday, May 25th. The stock was bought at an average cost of $49.99 per share, for a total transaction of $249,950.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at $499,900. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Anne Mehlman purchased 2,600 shares of the stock in a transaction dated Monday, May 9th. The shares were bought at an average price of $54.91 per share, with a total value of $142,766.00. Following the completion of the acquisition, the chief financial officer now directly owns 121,153 shares of the company’s stock, valued at approximately $6,652,511.23. The disclosure for this purchase can be found here. Insiders bought a total of 17,600 shares of company stock worth $947,066 over the last three months. Corporate insiders own 2.71% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Victory Capital Management Inc. increased its holdings in Crocs by 61.6% in the fourth quarter. Victory Capital Management Inc. now owns 712,131 shares of the textile maker’s stock valued at $91,310,000 after purchasing an additional 271,397 shares during the period. BlackRock Inc. increased its holdings in Crocs by 3.9% in the first quarter. BlackRock Inc. now owns 6,646,713 shares of the textile maker’s stock valued at $507,811,000 after purchasing an additional 247,828 shares during the period. Vanguard Group Inc. increased its holdings in Crocs by 4.0% in the first quarter. Vanguard Group Inc. now owns 5,836,304 shares of the textile maker’s stock valued at $445,893,000 after purchasing an additional 226,669 shares during the period. Empire Life Investments Inc. increased its holdings in Crocs by 396.3% in the second quarter. Empire Life Investments Inc. now owns 253,969 shares of the textile maker’s stock valued at $12,361,000 after purchasing an additional 202,797 shares during the period. Finally, Loomis Sayles & Co. L P acquired a new stake in Crocs in the second quarter valued at $8,605,000. 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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