Brokers Issue Forecasts for Crocs, Inc.’s Q4 2022 Earnings (NASDAQ:CROX)

Crocs, Inc. (NASDAQ:CROX – Get Rating) – Stock analysts at Seaport Res Ptn upped their Q4 2022 earnings per share (EPS) estimates for Crocs in a report released on Thursday, January 12th. Seaport Res Ptn analyst M. Kummetz now expects that the textile maker will post earnings of $2.18 per share for the quarter, up from their prior forecast of $2.02. The consensus estimate for Crocs’ current full-year earnings is $10.43 per share. Seaport Res Ptn also issued estimates for Crocs’ FY2023 earnings at $11.09 EPS and FY2024 earnings at $11.88 EPS.

Crocs (NASDAQ:CROX – Get Rating) last announced its quarterly earnings data on Thursday, November 3rd. The textile maker reported $2.97 EPS for the quarter, beating analysts’ consensus estimates of $2.58 by $0.39. Crocs had a return on equity of 172.58% and a net margin of 17.43%. The business had revenue of $985.09 million during the quarter, compared to the consensus estimate of $941.88 million.

Other research analysts have also recently issued research reports about the company. Exane BNP Paribas started coverage on Crocs in a research note on Wednesday, September 21st. They issued a “neutral” rating on the stock. StockNews.com raised Crocs from a “sell” rating to a “hold” rating in a report on Wednesday, January 11th. Piper Sandler increased their price objective on Crocs from $118.00 to $145.00 and gave the stock an “overweight” rating in a report on Thursday. BNP Paribas began coverage on Crocs in a report on Wednesday, September 21st. They issued a “neutral” rating for the company. Finally, Robert W. Baird increased their price target on Crocs from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, January 11th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $108.43.

Crocs Trading Down 1.0 %

Shares of CROX opened at $125.82 on Monday. The stock’s 50-day moving average is $100.38 and its two-hundred day moving average is $81.21. The stock has a market cap of $7.77 billion, a PE ratio of 13.89, a P/E/G ratio of 0.79 and a beta of 1.89. Crocs has a 12 month low of $46.08 and a 12 month high of $127.66. The company has a debt-to-equity ratio of 4.12, a current ratio of 1.97 and a quick ratio of 1.07.

Institutional Trading of Crocs

A number of hedge funds and other institutional investors have recently modified their holdings of CROX. Riverwater Partners LLC grew its holdings in Crocs by 41.3% during the 4th quarter. Riverwater Partners LLC now owns 13,962 shares of the textile maker’s stock worth $1,514,000 after acquiring an additional 4,079 shares during the period. Assenagon Asset Management S.A. bought a new stake in Crocs during the 4th quarter worth about $62,045,000. Accuvest Global Advisors lifted its position in Crocs by 45.0% during the 4th quarter. Accuvest Global Advisors now owns 4,718 shares of the textile maker’s stock worth $512,000 after buying an additional 1,464 shares in the last quarter. State of Alaska Department of Revenue increased its stake in shares of Crocs by 1.0% during the 4th quarter. State of Alaska Department of Revenue now owns 8,639 shares of the textile maker’s stock worth $936,000 after purchasing an additional 85 shares during the last quarter. Finally, Coldstream Capital Management Inc. acquired a new position in shares of Crocs during the 4th quarter worth about $279,000. Institutional investors and hedge funds own 84.95% of the company’s stock.

Insider Activity at Crocs

In other Crocs news, EVP Daniel P. Hart sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, January 11th. The shares were sold at an average price of $120.00, for a total transaction of $1,200,000.00. Following the completion of the transaction, the executive vice president now owns 237,360 shares in the company, valued at $28,483,200. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, President Michelle Poole sold 9,492 shares of Crocs stock in a transaction that occurred on Friday, November 18th. The shares were sold at an average price of $99.83, for a total value of $947,586.36. Following the completion of the transaction, the president now owns 145,157 shares in the company, valued at $14,491,023.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Daniel P. Hart sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 11th. The shares were sold at an average price of $120.00, for a total transaction of $1,200,000.00. Following the completion of the sale, the executive vice president now directly owns 237,360 shares of the company’s stock, valued at approximately $28,483,200. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 79,939 shares of company stock worth $8,320,050. Company insiders own 2.71% of the company’s stock.

Crocs Company Profile

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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.