Crocs (NASDAQ:CROX) Price Target Raised to $124.00 at UBS Group

Crocs (NASDAQ:CROX) had its price objective hoisted by UBS Group from $117.00 to $124.00 in a report published on Tuesday, Benzinga reports. They currently have a neutral rating on the textile maker’s stock.

Several other analysts have also commented on the stock. OTR Global raised shares of Crocs from a mixed rating to a positive rating in a research report on Thursday, April 11th. Raymond James lifted their price objective on shares of Crocs from $120.00 to $145.00 and gave the stock a strong-buy rating in a research report on Friday, February 16th. Williams Trading reaffirmed a hold rating and issued a $125.00 price objective (down previously from $135.00) on shares of Crocs in a research report on Tuesday, April 16th. Bank of America lifted their price objective on shares of Crocs from $140.00 to $150.00 and gave the stock a buy rating in a research report on Wednesday, March 20th. Finally, Piper Sandler lifted their price objective on shares of Crocs from $135.00 to $140.00 and gave the stock an overweight rating in a research report on Friday, February 16th. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $145.17.

Crocs Stock Up 0.8 %

Crocs stock opened at $126.43 on Tuesday. Crocs has a fifty-two week low of $74.00 and a fifty-two week high of $151.32. The stock has a market cap of $7.65 billion, a PE ratio of 9.87, a price-to-earnings-growth ratio of 1.52 and a beta of 2.01. The firm’s 50-day simple moving average is $127.80 and its 200 day simple moving average is $106.94. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.75 and a current ratio of 1.30.

Crocs (NASDAQ:CROX) last released its quarterly earnings results on Thursday, February 15th. The textile maker reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.20. Crocs had a net margin of 20.00% and a return on equity of 61.97%. The business had revenue of $960.10 million for the quarter, compared to analysts’ expectations of $958.39 million. During the same period in the previous year, the company earned $2.65 earnings per share. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. Research analysts predict that Crocs will post 12.46 EPS for the current fiscal year.

Insider Activity

In related news, President Michelle Poole sold 4,793 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $119.15, for a total transaction of $571,085.95. Following the sale, the president now owns 64,912 shares of the company’s stock, valued at approximately $7,734,264.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, President Michelle Poole sold 4,793 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $119.15, for a total transaction of $571,085.95. Following the sale, the president now owns 64,912 shares of the company’s stock, valued at approximately $7,734,264.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Daniel P. Hart sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $118.48, for a total transaction of $1,184,800.00. Following the sale, the executive vice president now directly owns 219,293 shares in the company, valued at approximately $25,981,834.64. The disclosure for this sale can be found here. Insiders have sold a total of 39,867 shares of company stock valued at $4,786,276 over the last quarter. Company insiders own 2.69% of the company’s stock.

Hedge Funds Weigh In On Crocs

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. WIT Partners Advisory Pte. Ltd. purchased a new position in Crocs in the 4th quarter worth approximately $266,431,000. Coatue Management LLC grew its stake in Crocs by 836.7% in the 4th quarter. Coatue Management LLC now owns 1,029,765 shares of the textile maker’s stock worth $96,190,000 after buying an additional 919,835 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Crocs by 60.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,024,452 shares of the textile maker’s stock worth $90,387,000 after buying an additional 384,390 shares in the last quarter. Norges Bank purchased a new position in Crocs in the 4th quarter worth approximately $72,211,000. Finally, Pacer Advisors Inc. grew its stake in Crocs by 13.4% in the 4th quarter. Pacer Advisors Inc. now owns 771,305 shares of the textile maker’s stock worth $72,048,000 after buying an additional 91,318 shares in the last quarter. Hedge funds and other institutional investors own 93.44% 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.