Crocs (NASDAQ:CROX) Stock Rating Upgraded by StockNews.com

Crocs (NASDAQ:CROX) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Friday.

CROX has been the topic of a number of other research reports. Loop Capital downgraded Crocs from a “buy” rating to a “hold” rating and lowered their price target for the stock from $150.00 to $110.00 in a research report on Thursday, November 7th. Monness Crespi & Hardt reduced their target price on Crocs from $170.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Robert W. Baird lowered their target price on shares of Crocs from $190.00 to $180.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Guggenheim reiterated a “buy” rating and issued a $155.00 target price on shares of Crocs in a research report on Friday, December 6th. Finally, Needham & Company LLC assumed coverage on shares of Crocs in a research report on Friday, November 22nd. They set a “buy” rating and a $116.00 price target on the stock. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $148.80.

Crocs Stock Performance

Shares of NASDAQ:CROX traded up $0.77 during trading on Friday, hitting $110.80. 729,609 shares of the stock traded hands, compared to its average volume of 832,204. The company has a quick ratio of 0.90, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. The company has a fifty day moving average price of $107.82 and a two-hundred day moving average price of $127.78. Crocs has a 52-week low of $85.71 and a 52-week high of $165.32. The company has a market cap of $6.46 billion, a price-to-earnings ratio of 8.03, a P/E/G ratio of 1.14 and a beta of 1.98.

Crocs (NASDAQ:CROX) last released its quarterly earnings data on Tuesday, October 29th. The textile maker reported $3.60 earnings per share for the quarter, beating analysts’ consensus estimates of $3.10 by $0.50. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Crocs had a net margin of 20.50% and a return on equity of 49.70%. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.25 earnings per share. As a group, equities analysts predict that Crocs will post 12.93 EPS for the current year.

Insider Buying and Selling

In related news, CFO Susan L. Healy acquired 1,000 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was purchased at an average price of $99.70 per share, with a total value of $99,700.00. Following the transaction, the chief financial officer now owns 22,652 shares of the company’s stock, valued at approximately $2,258,404.40. This trade represents a 4.62 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John B. Replogle bought 2,240 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was purchased at an average cost of $112.60 per share, for a total transaction of $252,224.00. Following the transaction, the director now owns 9,304 shares of the company’s stock, valued at $1,047,630.40. This trade represents a 31.71 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 2.72% 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 CROX. Crossmark Global Holdings Inc. lifted its position in shares of Crocs by 55.8% during the third quarter. Crossmark Global Holdings Inc. now owns 40,192 shares of the textile maker’s stock worth $5,820,000 after purchasing an additional 14,387 shares in the last quarter. Meeder Asset Management Inc. increased its stake in Crocs by 585.5% during the 3rd quarter. Meeder Asset Management Inc. now owns 24,349 shares of the textile maker’s stock worth $3,526,000 after buying an additional 20,797 shares during the period. Catalyst Capital Advisors LLC lifted its holdings in Crocs by 2,775.6% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 7,908 shares of the textile maker’s stock worth $1,145,000 after buying an additional 7,633 shares in the last quarter. Aigen Investment Management LP purchased a new position in Crocs in the 3rd quarter valued at approximately $2,024,000. Finally, International Assets Investment Management LLC acquired a new position in shares of Crocs in the third quarter worth $2,076,000. 93.44% of the stock is currently owned by hedge funds and other institutional investors.

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.