Crocs (NASDAQ:CROX) Raised to “Positive” at OTR Global

Crocs (NASDAQ:CROX) was upgraded by investment analysts at OTR Global from a “mixed” rating to a “positive” rating in a research note issued on Thursday, Benzinga reports.

CROX has been the subject of several other reports. KeyCorp raised their target price on Crocs from $130.00 to $149.00 and gave the company an “overweight” rating in a research note on Thursday, March 21st. Stifel Nicolaus raised their target price on Crocs from $132.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, February 16th. B. Riley raised their target price on Crocs from $95.00 to $122.00 and gave the company a “neutral” rating in a research note on Wednesday. Raymond James raised their target price on Crocs from $120.00 to $145.00 and gave the company a “strong-buy” rating in a research note on Friday, February 16th. Finally, Bank of America raised their price target on shares of Crocs from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $149.30.

Crocs Stock Performance

Shares of Crocs stock opened at $125.54 on Thursday. The company has a current ratio of 1.30, a quick ratio of 0.75 and a debt-to-equity ratio of 1.13. The business has a 50-day moving average price of $125.14 and a two-hundred day moving average price of $104.86. Crocs has a 1-year low of $74.00 and a 1-year high of $151.32. The company has a market cap of $7.60 billion, a P/E ratio of 9.80, a PEG ratio of 1.62 and a beta of 2.01.

Crocs (NASDAQ:CROX) last issued its quarterly earnings results on Thursday, February 15th. The textile maker reported $2.58 earnings per share for the quarter, topping analysts’ consensus estimates of $2.38 by $0.20. Crocs had a return on equity of 61.97% and a net margin of 20.00%. The firm had revenue of $960.10 million during the quarter, compared to the consensus estimate of $958.39 million. During the same period last year, the business posted $2.65 EPS. The business’s revenue was up 1.6% compared to the same quarter last year. As a group, analysts anticipate that Crocs will post 12.46 EPS for the current year.

Insiders Place Their Bets

In other news, Director John B. Replogle bought 1,972 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were purchased at an average price of $126.75 per share, with a total value of $249,951.00. Following the transaction, the director now directly owns 3,153 shares in the company, valued at $399,642.75. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In related news, President Michelle Poole sold 4,793 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $119.15, for a total value of $571,085.95. Following the transaction, the president now owns 64,912 shares in the company, valued at $7,734,264.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John B. Replogle acquired 1,972 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was purchased at an average price of $126.75 per share, for a total transaction of $249,951.00. Following the purchase, the director now owns 3,153 shares of the company’s stock, valued at approximately $399,642.75. The disclosure for this purchase can be found here. Insiders have sold a total of 39,867 shares of company stock valued at $4,786,276 in the last 90 days. 2.69% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Crocs

Several institutional investors have recently bought and sold shares of CROX. Rise Advisors LLC purchased a new position in Crocs in the first quarter valued at approximately $25,000. Quarry LP purchased a new position in Crocs in the fourth quarter valued at approximately $27,000. Byrne Asset Management LLC lifted its stake in Crocs by 60.0% in the fourth quarter. Byrne Asset Management LLC now owns 320 shares of the textile maker’s stock valued at $30,000 after purchasing an additional 120 shares during the last quarter. Blue Trust Inc. lifted its stake in Crocs by 185.0% in the fourth quarter. Blue Trust Inc. now owns 342 shares of the textile maker’s stock valued at $32,000 after purchasing an additional 222 shares during the last quarter. Finally, Harbour Investments Inc. raised its holdings in Crocs by 440.0% during the 1st quarter. Harbour Investments Inc. now owns 270 shares of the textile maker’s stock valued at $34,000 after acquiring an additional 220 shares during the period. Hedge funds and other institutional investors own 93.44% of the company’s stock.

About Crocs

Crocs, Inc, together with its subsidiaries, designs, develops, manufactures, markets, distributes, and sells casual lifestyle footwear and accessories for men, women, and children under Crocs and HEYDUDE Brand in the United States and internationally. The company offers various footwear products, including clogs, sandals, slides, flips, wedges, platforms, socks, boots, charms, flip flops, sneakers, and slippers.