Crocs (NASDAQ:CROX) Rating Increased to Positive at OTR Global

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

A number of other analysts also recently weighed in on the stock. Raymond James increased their target price on shares of Crocs from $120.00 to $145.00 and gave the company a “strong-buy” rating in a research report on Friday, February 16th. Barclays started coverage on shares of Crocs in a research report on Monday, April 1st. They set an “overweight” rating and a $167.00 target price for the company. B. Riley increased their target price on shares of Crocs from $95.00 to $122.00 and gave the company a “neutral” rating in a research report on Wednesday. Bank of America increased their target price 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. Finally, Piper Sandler raised their price objective on shares of Crocs from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Friday, February 16th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $149.30.

Crocs Stock Down 3.0 %

Shares of NASDAQ CROX opened at $125.54 on Thursday. The company has a 50 day simple moving average of $125.14 and a 200 day simple moving average of $104.86. The firm has a market cap of $7.60 billion, a PE ratio of 9.80, a price-to-earnings-growth ratio of 1.62 and a beta of 2.01. Crocs has a 1 year low of $74.00 and a 1 year high of $151.32. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.30 and a quick ratio of 0.75.

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

Insider Activity at Crocs

In related news, President Michelle Poole sold 4,793 shares of Crocs stock in a transaction on Friday, February 16th. The shares were sold at an average price of $119.15, for a total value of $571,085.95. Following the completion of the sale, the president now owns 64,912 shares of the company’s stock, valued at approximately $7,734,264.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Crocs news, Director Ian Bickley sold 16,785 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $120.05, for a total transaction of $2,015,039.25. Following the transaction, the director now directly owns 31,815 shares in the company, valued at approximately $3,819,390.75. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Michelle Poole sold 4,793 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 39,867 shares of company stock valued at $4,786,276. 2.69% of the stock is owned by company insiders.

Hedge Funds Weigh In On Crocs

Several large investors have recently bought and sold shares of CROX. Rise Advisors LLC bought a new position in Crocs during the 1st quarter valued at $25,000. Quarry LP purchased a new position in shares of Crocs in the 4th quarter worth about $27,000. Byrne Asset Management LLC boosted its holdings in shares of Crocs by 60.0% in the 4th quarter. Byrne Asset Management LLC now owns 320 shares of the textile maker’s stock worth $30,000 after buying an additional 120 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Crocs by 185.0% in the 4th quarter. Blue Trust Inc. now owns 342 shares of the textile maker’s stock worth $32,000 after buying an additional 222 shares during the last quarter. Finally, Harbour Investments Inc. boosted its holdings in shares of Crocs by 440.0% in the 1st quarter. Harbour Investments Inc. now owns 270 shares of the textile maker’s stock worth $34,000 after buying an additional 220 shares during the last quarter. 93.44% of the stock is currently owned by institutional investors.

Crocs Company Profile

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.