Crocs (NASDAQ:CROX) Reaches New 1-Year High at $161.59

Crocs, Inc. (NASDAQ:CROX) shares reached a new 52-week high during trading on Thursday . The company traded as high as $161.59 and last traded at $161.51, with a volume of 25937 shares changing hands. The stock had previously closed at $155.73.

Several research analysts have weighed in on CROX shares. Robert W. Baird increased their target price on shares of Crocs from $160.00 to $215.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 15th. They noted that the move was a valuation call. Monness Crespi & Hardt increased their target price on Crocs from $160.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, September 15th. Piper Sandler raised their target price on Crocs from $185.00 to $212.00 and gave the company an “overweight” rating in a report on Wednesday, September 15th. Loop Capital increased their price target on shares of Crocs from $150.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, September 15th. They noted that the move was a valuation call. Finally, Zacks Investment Research cut shares of Crocs from a “strong-buy” rating to a “hold” rating and set a $123.00 price objective for the company. in a report on Tuesday, June 29th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $152.78.

The company has a debt-to-equity ratio of 1.08, a current ratio of 1.78 and a quick ratio of 1.23. The company has a market cap of $9.75 billion, a PE ratio of 15.63, a P/E/G ratio of 1.42 and a beta of 1.83. The business’s 50 day moving average is $141.19 and its 200-day moving average is $112.27.

Crocs (NASDAQ:CROX) last released its quarterly earnings data on Thursday, July 22nd. The textile maker reported $2.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.62 by $0.61. The business had revenue of $640.77 million during the quarter, compared to analysts’ expectations of $562.61 million. Crocs had a net margin of 35.35% and a return on equity of 126.41%. The company’s revenue for the quarter was up 93.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.01 EPS. As a group, sell-side analysts predict that Crocs, Inc. will post 6.78 EPS for the current fiscal year.

In other Crocs news, Director Ian Bickley sold 5,000 shares of the firm’s stock in a transaction on Thursday, September 16th. The shares were sold at an average price of $156.47, for a total transaction of $782,350.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Michelle Poole sold 4,273 shares of the company’s stock in a transaction dated Monday, August 9th. The shares were sold at an average price of $141.48, for a total transaction of $604,544.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,613 shares of company stock worth $5,080,373. Company insiders own 2.38% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Marshall Wace LLP lifted its holdings in shares of Crocs by 1,586.3% during the second quarter. Marshall Wace LLP now owns 303,874 shares of the textile maker’s stock worth $35,407,000 after purchasing an additional 285,854 shares during the period. Marshall Wace North America L.P. acquired a new stake in shares of Crocs in the 2nd quarter worth $9,613,000. Morgan Stanley raised its holdings in Crocs by 69.4% during the second quarter. Morgan Stanley now owns 1,042,257 shares of the textile maker’s stock worth $121,444,000 after purchasing an additional 426,896 shares in the last quarter. Weld Capital Management LLC acquired a new stake in Crocs in the second quarter valued at about $287,000. Finally, Invesco Ltd. boosted its holdings in Crocs by 2.2% in the 2nd quarter. Invesco Ltd. now owns 696,699 shares of the textile maker’s stock valued at $81,180,000 after purchasing an additional 14,861 shares in the last quarter. Institutional investors own 91.87% of the company’s stock.

Crocs Company Profile (NASDAQ:CROX)

Crocs, Inc engages in the design, development, manufacturing, worldwide marketing, sale and distribution of casual footwear, apparel, and accessories for men, women, and children. It operates through the following segments: Americas, Asia Pacific and Europe, Middle East & Africa (EMEA). The Americas segment consists of the revenues and expenses related to product sales in North and South America.

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