Crocs (NASDAQ:CROX) Shares Up 3.9% After Analyst Upgrade

Crocs, Inc. (NASDAQ:CROXGet Rating)’s share price shot up 3.9% during mid-day trading on Wednesday after StockNews.com upgraded the stock from a sell rating to a hold rating. The company traded as high as $119.74 and last traded at $119.73. 4,695 shares were traded during mid-day trading, a decline of 100% from the average session volume of 1,448,449 shares. The stock had previously closed at $115.27.

CROX has been the topic of a number of other research reports. Exane BNP Paribas began coverage on Crocs in a research report on Wednesday, September 21st. They issued a “neutral” rating on the stock. BNP Paribas began coverage on Crocs in a research report on Wednesday, September 21st. They issued a “neutral” rating on the stock. Piper Sandler lifted their target price on Crocs from $95.00 to $118.00 and gave the company an “overweight” rating in a research report on Friday, December 16th. Finally, Robert W. Baird boosted their price target on Crocs from $150.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $95.29.

Insiders Place Their Bets

In other news, EVP Daniel P. Hart sold 10,000 shares of Crocs stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $110.00, for a total transaction of $1,100,000.00. Following the completion of the transaction, the executive vice president now directly owns 247,360 shares in the company, valued at approximately $27,209,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Daniel P. Hart sold 10,000 shares of Crocs stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $110.00, for a total transaction of $1,100,000.00. Following the completion of the transaction, the executive vice president now directly owns 247,360 shares in the company, valued at approximately $27,209,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Michelle Poole sold 9,492 shares of Crocs stock in a transaction that occurred on Friday, November 18th. The stock was sold at an average price of $99.83, for a total value of $947,586.36. Following the transaction, the president now owns 145,157 shares of the company’s stock, valued at $14,491,023.31. The disclosure for this sale can be found here. Insiders have sold 59,939 shares of company stock valued at $5,863,350 in the last 90 days. 2.71% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC boosted its stake in Crocs by 23.3% in the 2nd quarter. FMR LLC now owns 8,247,229 shares of the textile maker’s stock valued at $401,393,000 after purchasing an additional 1,558,482 shares during the period. Marshall Wace LLP boosted its stake in Crocs by 295.6% in the 3rd quarter. Marshall Wace LLP now owns 1,717,628 shares of the textile maker’s stock valued at $117,936,000 after purchasing an additional 1,283,455 shares during the period. Portolan Capital Management LLC boosted its stake in Crocs by 251.7% in the 3rd quarter. Portolan Capital Management LLC now owns 403,754 shares of the textile maker’s stock valued at $27,722,000 after purchasing an additional 288,942 shares during the period. BlackRock Inc. boosted its stake in Crocs by 3.9% in the 1st 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. Finally, Woodson Capital Management LP acquired a new position in Crocs in the 2nd quarter valued at $11,822,000. 84.95% of the stock is currently owned by institutional investors.

Crocs Price Performance

The stock has a market capitalization of $7.56 billion, a price-to-earnings ratio of 13.52, a PEG ratio of 0.70 and a beta of 1.89. The company has a debt-to-equity ratio of 4.12, a quick ratio of 1.07 and a current ratio of 1.97. The company has a fifty day simple moving average of $98.56 and a two-hundred day simple moving average of $79.93.

Crocs (NASDAQ:CROXGet Rating) last announced its quarterly earnings data on Thursday, November 3rd. The textile maker reported $2.97 earnings per share for the quarter, beating the consensus estimate of $2.58 by $0.39. The firm had revenue of $985.09 million during the quarter, compared to analysts’ expectations of $941.88 million. Crocs had a return on equity of 172.58% and a net margin of 17.43%. As a group, equities research analysts expect that Crocs, Inc. will post 10.28 earnings per share for the current fiscal year.

About Crocs

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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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