Piper Jaffray Companies upgraded shares of Crocs (NASDAQ:CROX) from a neutral rating to an overweight rating in a research note released on Monday morning, 24/7 WallStreet reports. They currently have $27.00 price objective on the textile maker’s stock, up from their previous price objective of $22.00.
A number of other research firms also recently commented on CROX. CL King raised shares of Crocs from a neutral rating to a buy rating in a report on Thursday, June 27th. ValuEngine downgraded shares of Yext from a strong-buy rating to a buy rating in a report on Friday, May 10th. TheStreet raised shares of United States Lime & Minerals from a c+ rating to a b rating in a report on Wednesday, March 20th. Robert W. Baird decreased their price objective on shares of Micron Technology from $32.00 to $28.00 and set an underperform rating for the company in a report on Friday, June 21st. Finally, BidaskClub raised shares of ZIOPHARM Oncology from a buy rating to a strong-buy rating in a report on Monday, June 17th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $29.47.
Crocs stock opened at $22.35 on Monday. The firm has a market capitalization of $1.62 billion, a P/E ratio of 33.16, a PEG ratio of 1.21 and a beta of 0.92. The stock has a fifty day simple moving average of $19.81. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 2.77. Crocs has a 12 month low of $16.26 and a 12 month high of $31.88.
Crocs declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, May 7th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the textile maker to buy up to 25.8% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Signaturefd LLC acquired a new stake in Crocs in the first quarter worth about $29,000. FMR LLC raised its position in Crocs by 54.2% in the first quarter. FMR LLC now owns 2,846 shares of the textile maker’s stock worth $73,000 after acquiring an additional 1,000 shares in the last quarter. PNC Financial Services Group Inc. raised its position in Crocs by 26.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,282 shares of the textile maker’s stock worth $85,000 after acquiring an additional 679 shares in the last quarter. Meeder Asset Management Inc. raised its position in Crocs by 24.9% in the first quarter. Meeder Asset Management Inc. now owns 5,113 shares of the textile maker’s stock worth $130,000 after acquiring an additional 1,019 shares in the last quarter. Finally, NumerixS Investment Technologies Inc raised its position in Crocs by 277.3% in the first quarter. NumerixS Investment Technologies Inc now owns 6,414 shares of the textile maker’s stock worth $168,000 after acquiring an additional 4,714 shares in the last quarter. 97.21% of the stock is owned by institutional investors.
Crocs, Inc, together with its subsidiaries, designs, develops, manufactures, markets, and distributes casual lifestyle footwear and accessories for men, women, and children worldwide. It offers various footwear products, including clogs, sandals, flips and slides, shoes, and boots under the Crocs brand name.
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