BNP Paribas Initiates Coverage on Crocs (NASDAQ:CROX)

Investment analysts at BNP Paribas began coverage on shares of Crocs (NASDAQ:CROXGet Rating) in a research report issued on Wednesday, MarketBeat reports. The firm set a “neutral” rating on the textile maker’s stock.

A number of other analysts also recently issued reports on CROX. UBS Group cut their price objective on shares of Crocs from $73.00 to $59.00 and set a “neutral” rating for the company in a report on Friday, July 15th. Loop Capital raised shares of Crocs from a “hold” rating to a “buy” rating and upped their price target for the stock from $52.42 to $75.00 in a report on Tuesday, July 5th. StockNews.com downgraded shares of Crocs from a “hold” rating to a “sell” rating in a report on Tuesday. Robert W. Baird reissued an “outperform” rating and issued a $90.00 price objective on shares of Crocs in a research note on Tuesday, August 2nd. Finally, B. Riley decreased their price target on shares of Crocs from $120.00 to $116.00 in a research report on Friday, August 5th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $82.00.

Crocs Trading Down 8.0 %

CROX opened at $68.78 on Wednesday. The stock has a market capitalization of $4.24 billion, a P/E ratio of 7.85, a P/E/G ratio of 0.51 and a beta of 1.99. Crocs has a 12 month low of $46.08 and a 12 month high of $183.88. The firm’s fifty day simple moving average is $72.30 and its 200 day simple moving average is $66.36. The company has a current ratio of 1.94, a quick ratio of 1.11 and a debt-to-equity ratio of 5.58.

Crocs (NASDAQ:CROXGet Rating) last issued its quarterly earnings results on Thursday, August 4th. The textile maker reported $3.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.73 by $0.51. The firm had revenue of $964.60 million for the quarter, compared to analyst estimates of $938.93 million. Crocs had a net margin of 19.08% and a return on equity of 202.79%. The company’s revenue was up 50.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.23 EPS. As a group, research analysts anticipate that Crocs will post 10.04 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Shannon Sisler sold 3,164 shares of the stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $80.00, for a total transaction of $253,120.00. Following the transaction, the executive vice president now directly owns 49,303 shares of the company’s stock, valued at $3,944,240. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, President Michelle Poole sold 7,320 shares of the stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $80.26, for a total transaction of $587,503.20. Following the transaction, the president now directly owns 168,905 shares of the company’s stock, valued at $13,556,315.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Shannon Sisler sold 3,164 shares of the firm’s stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $80.00, for a total transaction of $253,120.00. Following the completion of the transaction, the executive vice president now directly owns 49,303 shares in the company, valued at $3,944,240. The disclosure for this sale can be found here. 2.71% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CROX. FinTrust Capital Advisors LLC lifted its stake in shares of Crocs by 100.0% in the first quarter. FinTrust Capital Advisors LLC now owns 400 shares of the textile maker’s stock valued at $31,000 after buying an additional 200 shares in the last quarter. Koshinski Asset Management Inc. lifted its position in shares of Crocs by 1,716.7% during the first quarter. Koshinski Asset Management Inc. now owns 436 shares of the textile maker’s stock valued at $33,000 after purchasing an additional 412 shares in the last quarter. Meeder Asset Management Inc. bought a new position in shares of Crocs during the first quarter valued at about $36,000. Western Pacific Wealth Management LP bought a new position in shares of Crocs during the fourth quarter valued at about $38,000. Finally, Parallel Advisors LLC lifted its position in shares of Crocs by 53.3% during the first quarter. Parallel Advisors LLC now owns 555 shares of the textile maker’s stock valued at $44,000 after purchasing an additional 193 shares in the last quarter. 79.96% of the stock is owned by institutional investors.

About Crocs

(Get Rating)

Crocs, Inc, together with its subsidiaries, designs, develops, manufactures, markets, and distributes casual lifestyle footwear and accessories for men, women, and children. It offers various footwear products, including clogs, sandals, slides, flip-flops, boots, flats, wedges, platforms, socks, shoe charms, loafers, sneakers, and slippers under the Crocs brand name.

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