Crocs (NASDAQ:CROX) Price Target Raised to $129.00

by · The Cerbat Gem

Crocs (NASDAQ:CROX – Free Report) had its target price raised by Needham & Company LLC from $118.00 to $129.00 in a research note released on Thursday,Benzinga reports. The brokerage currently has a buy rating on the textile maker’s stock.

A number of other equities analysts have also issued reports on the stock. Stifel Nicolaus lowered their target price on shares of Crocs from $138.00 to $127.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. UBS Group raised their price objective on shares of Crocs from $122.00 to $132.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Guggenheim reduced their target price on shares of Crocs from $155.00 to $150.00 and set a “buy” rating for the company in a report on Monday, February 3rd. KeyCorp lowered their price target on Crocs from $150.00 to $120.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Finally, Bank of America boosted their price target on Crocs from $144.00 to $153.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $139.79.

View Our Latest Research Report on Crocs

Crocs Stock Down 0.8 %

Shares of NASDAQ:CROX opened at $109.77 on Thursday. The firm has a 50 day simple moving average of $99.83 and a 200-day simple moving average of $104.00. Crocs has a twelve month low of $86.11 and a twelve month high of $165.32. The company has a current ratio of 1.18, a quick ratio of 0.70 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $6.15 billion, a PE ratio of 6.86, a P/E/G ratio of 1.80 and a beta of 1.46.

Crocs (NASDAQ:CROX – Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The textile maker reported $3.00 earnings per share for the quarter, beating analysts’ consensus estimates of $2.51 by $0.49. Crocs had a net margin of 23.16% and a return on equity of 46.27%. The firm had revenue of $937.33 million during the quarter, compared to analysts’ expectations of $907.07 million. During the same period in the previous year, the company earned $3.02 earnings per share. Crocs’s quarterly revenue was down .1% compared to the same quarter last year. On average, equities analysts predict that Crocs will post 13.2 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Adam Michaels sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $106.69, for a total value of $1,600,350.00. Following the completion of the sale, the executive vice president now owns 89,323 shares in the company, valued at $9,529,870.87. This trade represents a 14.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Shannon Sisler sold 4,659 shares of Crocs stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $109.75, for a total transaction of $511,325.25. Following the sale, the executive vice president now owns 29,299 shares of the company’s stock, valued at approximately $3,215,565.25. The trade was a 13.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.00% of the company’s stock.

Institutional Trading of Crocs

Large investors have recently bought and sold shares of the company. Costello Asset Management INC acquired a new stake in Crocs in the 1st quarter valued at about $32,000. Larson Financial Group LLC grew its position in shares of Crocs by 541.8% in the first quarter. Larson Financial Group LLC now owns 353 shares of the textile maker’s stock valued at $37,000 after purchasing an additional 298 shares during the last quarter. IMA Advisory Services Inc. acquired a new stake in shares of Crocs in the first quarter valued at approximately $40,000. UMB Bank n.a. increased its stake in shares of Crocs by 46.6% during the 4th quarter. UMB Bank n.a. now owns 447 shares of the textile maker’s stock worth $49,000 after purchasing an additional 142 shares in the last quarter. Finally, Allianz SE purchased a new stake in Crocs in the 4th quarter valued at approximately $53,000. Institutional investors and hedge funds own 93.44% of the company’s stock.

Crocs Company Profile

(Get Free Report)

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.

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