Wedbush Reaffirms Outperform Rating for Crocs (NASDAQ:CROX)

Wedbush reiterated their outperform rating on shares of Crocs (NASDAQ:CROX) in a research note released on Friday, Benzinga reports. They currently have a $154.00 target price on the textile maker’s stock.

Other equities research analysts have also recently issued research reports about the stock. Piper Sandler lifted their target price on shares of Crocs from $135.00 to $140.00 and gave the stock an overweight rating in a research note on Friday, February 16th. OTR Global raised Crocs from a mixed rating to a positive rating in a research note on Thursday, April 11th. Williams Trading reissued a hold rating and set a $125.00 price target (down previously from $135.00) on shares of Crocs in a research report on Tuesday, April 16th. Stifel Nicolaus raised their price objective on shares of Crocs from $132.00 to $140.00 and gave the stock a buy rating in a research report on Friday, February 16th. Finally, UBS Group raised their price target on shares of Crocs from $117.00 to $124.00 and gave the stock a neutral rating in a report on Tuesday, April 23rd. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $144.64.

Crocs Stock Up 1.9 %

Crocs stock opened at $126.63 on Friday. Crocs has a 12 month low of $74.00 and a 12 month high of $146.79. The stock has a market capitalization of $7.69 billion, a PE ratio of 9.89, a price-to-earnings-growth ratio of 1.56 and a beta of 2.03. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.30 and a quick ratio of 0.75. The business has a 50 day simple moving average of $129.12 and a 200-day simple moving average of $109.17.

Crocs (NASDAQ:CROX) last posted its quarterly earnings data 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. The company had revenue of $960.10 million during the quarter, compared to analysts’ expectations of $958.39 million. Crocs had a net margin of 20.00% and a return on equity of 61.97%. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.65 earnings per share. On average, analysts anticipate that Crocs will post 12.44 EPS for the current fiscal year.

Insider Activity at Crocs

In other Crocs news, Director Ian Bickley sold 16,785 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $120.05, for a total transaction of $2,015,039.25. Following the sale, the director now directly owns 31,815 shares in the company, valued at approximately $3,819,390.75. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, EVP Daniel P. Hart sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $118.48, for a total transaction of $1,184,800.00. Following the sale, the executive vice president now directly owns 219,293 shares in the company, valued at $25,981,834.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ian Bickley sold 16,785 shares of Crocs 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 sale, the director now directly owns 31,815 shares of the company’s stock, valued at $3,819,390.75. The disclosure for this sale can be found here. Over the last quarter, insiders sold 39,867 shares of company stock worth $4,786,276. Corporate insiders own 2.72% of the company’s stock.

Hedge Funds Weigh In On Crocs

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. WIT Partners Advisory Pte. Ltd. acquired a new position in shares of Crocs in the 4th quarter valued at $266,431,000. Coatue Management LLC boosted its position in shares of Crocs by 836.7% in the 4th quarter. Coatue Management LLC now owns 1,029,765 shares of the textile maker’s stock valued at $96,190,000 after purchasing an additional 919,835 shares during the period. Assenagon Asset Management S.A. grew its stake in Crocs by 60.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,024,452 shares of the textile maker’s stock worth $90,387,000 after buying an additional 384,390 shares during the last quarter. Norges Bank acquired a new position in Crocs during the fourth quarter worth approximately $72,211,000. Finally, Pacer Advisors Inc. lifted its stake in Crocs by 13.4% in the fourth quarter. Pacer Advisors Inc. now owns 771,305 shares of the textile maker’s stock valued at $72,048,000 after buying an additional 91,318 shares during the last quarter. 93.44% of the stock is owned by institutional investors and hedge funds.

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.