Wedbush Equities Analysts Increase Earnings Estimates for Crocs, Inc. (NASDAQ:CROX)

Crocs, Inc. (NASDAQ:CROX) – Analysts at Wedbush boosted their Q2 2024 EPS estimates for shares of Crocs in a research report issued on Tuesday, May 7th. Wedbush analyst T. Nikic now expects that the textile maker will post earnings of $3.53 per share for the quarter, up from their prior forecast of $3.38. Wedbush currently has a “Outperform” rating and a $154.00 target price on the stock. The consensus estimate for Crocs’ current full-year earnings is $12.44 per share. Wedbush also issued estimates for Crocs’ FY2024 earnings at $12.65 EPS and FY2025 earnings at $14.15 EPS.

Other equities analysts also recently issued research reports about the stock. Stifel Nicolaus upped their price objective on shares of Crocs from $140.00 to $158.00 and gave the stock a “buy” rating in a research report on Wednesday. Raymond James raised their price objective 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. Monness Crespi & Hardt boosted their target price on Crocs from $140.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday. Williams Trading reissued a “hold” rating and set a $125.00 target price (down from $135.00) on shares of Crocs in a research note on Tuesday, April 16th. Finally, Piper Sandler lifted their price target on Crocs from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Crocs presently has a consensus rating of “Moderate Buy” and a consensus price target of $150.42.

Crocs Stock Up 3.2 %

Crocs stock opened at $139.70 on Thursday. The stock has a 50 day moving average of $130.16 and a two-hundred day moving average of $110.21. Crocs has a twelve month low of $74.00 and a twelve month high of $146.79. The stock has a market capitalization of $8.48 billion, a price-to-earnings ratio of 10.91, a PEG ratio of 1.56 and a beta of 2.03. The company has a current ratio of 1.30, a quick ratio of 0.75 and a debt-to-equity ratio of 1.13.

Crocs (NASDAQ:CROX) last posted its quarterly earnings data on Tuesday, May 7th. The textile maker reported $3.02 EPS for the quarter, beating analysts’ consensus estimates of $2.25 by $0.77. Crocs had a net margin of 20.00% and a return on equity of 61.97%. The company had revenue of $938.60 million for the quarter, compared to analyst estimates of $884.29 million. During the same period in the previous year, the business posted $2.61 earnings per share. Crocs’s quarterly revenue was up 6.2% on a year-over-year basis.

Institutional Investors Weigh In On Crocs

Several hedge funds have recently modified their holdings of the company. Dorsey & Whitney Trust CO LLC purchased a new position in shares of Crocs during the first quarter valued at approximately $214,000. Blair William & Co. IL purchased a new position in shares of Crocs during the 1st quarter worth $262,000. Edmond DE Rothschild Holding S.A. boosted its holdings in shares of Crocs by 7.3% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 16,865 shares of the textile maker’s stock worth $2,425,000 after purchasing an additional 1,142 shares during the last quarter. Motley Fool Asset Management LLC purchased a new stake in shares of Crocs in the first quarter valued at $1,387,000. Finally, Russell Investments Group Ltd. increased its stake in Crocs by 78.2% in the first quarter. Russell Investments Group Ltd. now owns 35,142 shares of the textile maker’s stock valued at $5,053,000 after purchasing an additional 15,418 shares during the last quarter. 93.44% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Crocs news, Director Ian Bickley sold 16,785 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 31,815 shares in the company, valued at approximately $3,819,390.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, President Michelle Poole sold 4,793 shares of the company’s stock in a transaction 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 sale, the president now directly owns 64,912 shares in the company, valued at $7,734,264.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ian Bickley sold 16,785 shares of Crocs stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $120.05, for a total value of $2,015,039.25. Following the sale, the director now owns 31,815 shares of the company’s stock, valued at approximately $3,819,390.75. The disclosure for this sale can be found here. Insiders have sold 39,867 shares of company stock worth $4,786,276 in the last three months. Corporate insiders own 2.72% of the company’s stock.

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.