Crocs (NASDAQ:CROX) Earns Buy Rating from Susquehanna Bancshares

Susquehanna Bancshares reaffirmed their buy rating on shares of Crocs (NASDAQ:CROX) in a report published on Thursday, TipRanks reports. They currently have a $53.00 price target on the textile maker’s stock.

Several other equities research analysts also recently weighed in on the company. UBS Group began coverage on Crocs in a report on Wednesday, July 22nd. They set a neutral rating and a $40.00 price objective on the stock. Pivotal Research raised their price objective on shares of Crocs from $29.00 to $41.00 and gave the company a buy rating in a report on Monday, July 27th. Stifel Nicolaus reissued a hold rating on shares of Crocs in a report on Tuesday, April 14th. Robert W. Baird upped their price target on shares of Crocs from $26.00 to $36.00 and gave the company an outperform rating in a research report on Thursday, June 4th. Finally, ValuEngine lowered shares of Crocs from a hold rating to a sell rating in a report on Friday, April 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $38.92.

NASDAQ:CROX opened at $35.94 on Thursday. Crocs has a twelve month low of $8.40 and a twelve month high of $43.79. The company has a quick ratio of 1.35, a current ratio of 2.12 and a debt-to-equity ratio of 2.66. The stock’s 50-day simple moving average is $34.30 and its 200 day simple moving average is $29.61. The firm has a market capitalization of $2.42 billion, a PE ratio of 20.08, a price-to-earnings-growth ratio of 2.81 and a beta of 1.88.

Crocs (NASDAQ:CROX) last posted its earnings results on Thursday, July 30th. The textile maker reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.87. The firm had revenue of $331.55 million during the quarter, compared to analysts’ expectations of $241.20 million. Crocs had a net margin of 10.37% and a return on equity of 106.21%. The business’s revenue for the quarter was down 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.55 earnings per share. On average, analysts anticipate that Crocs will post 0.85 EPS for the current fiscal year.

In other news, EVP Michelle Poole sold 30,000 shares of Crocs stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $29.33, for a total value of $879,900.00. Following the completion of the transaction, the executive vice president now directly owns 135,330 shares of the company’s stock, valued at approximately $3,969,228.90. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.42% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of CROX. Clearbridge Investments LLC raised its stake in Crocs by 36.2% during the 1st quarter. Clearbridge Investments LLC now owns 375,840 shares of the textile maker’s stock worth $6,386,000 after buying an additional 99,910 shares during the period. Macquarie Group Ltd. bought a new position in shares of Crocs in the 4th quarter worth $3,142,000. Invesco Ltd. grew its position in Crocs by 164.3% in the 1st quarter. Invesco Ltd. now owns 768,419 shares of the textile maker’s stock valued at $13,055,000 after purchasing an additional 477,656 shares during the period. State of Alaska Department of Revenue grew its position in Crocs by 4.7% in the 2nd quarter. State of Alaska Department of Revenue now owns 63,605 shares of the textile maker’s stock valued at $2,341,000 after purchasing an additional 2,849 shares during the period. Finally, Alps Advisors Inc. bought a new stake in Crocs during the 1st quarter valued at $265,000. Institutional investors own 92.21% of the company’s stock.

About Crocs

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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Analyst Recommendations for Crocs (NASDAQ:CROX)

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