Piper Jaffray Companies reissued their hold rating on shares of Crocs, Inc. (NASDAQ:CROX) in a research report report published on Wednesday. They currently have a $9.00 target price on the textile maker’s stock.
CROX has been the topic of several other research reports. Susquehanna Bancshares Inc reaffirmed a neutral rating and issued a $7.00 target price (up previously from $6.00) on shares of Crocs in a report on Friday, May 12th. B. Riley reissued a neutral rating and set a $8.00 price objective on shares of Crocs in a report on Saturday, May 13th. TheStreet raised shares of Crocs from a d rating to a c- rating in a report on Wednesday, June 21st. BidaskClub lowered shares of Crocs from a buy rating to a hold rating in a report on Wednesday, July 12th. Finally, Stifel Nicolaus reissued a hold rating and set a $8.00 price objective (up previously from $7.00) on shares of Crocs in a report on Saturday, July 22nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. Crocs currently has a consensus rating of Hold and a consensus price target of $8.25.
Crocs (CROX) opened at 9.21 on Wednesday. The firm’s market capitalization is $660.92 million. The firm’s 50-day moving average is $7.82 and its 200-day moving average is $7.01. Crocs has a 1-year low of $5.93 and a 1-year high of $9.54.
Crocs (NASDAQ:CROX) last posted its earnings results on Wednesday, August 9th. The textile maker reported $0.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.12. Crocs had a negative net margin of 0.91% and a negative return on equity of 3.36%. The business had revenue of $313.20 million for the quarter, compared to analyst estimates of $311.33 million. During the same quarter in the prior year, the firm earned $0.16 EPS. The firm’s quarterly revenue was down 3.3% compared to the same quarter last year. On average, equities analysts anticipate that Crocs will post ($0.03) EPS for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CROX. Dimensional Fund Advisors LP increased its position in Crocs by 36.1% in the second quarter. Dimensional Fund Advisors LP now owns 3,532,024 shares of the textile maker’s stock worth $27,232,000 after buying an additional 937,111 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Crocs by 53.1% in the first quarter. Renaissance Technologies LLC now owns 2,127,636 shares of the textile maker’s stock worth $15,042,000 after buying an additional 737,636 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Crocs by 6.4% in the second quarter. Vanguard Group Inc. now owns 6,846,368 shares of the textile maker’s stock worth $52,787,000 after buying an additional 408,899 shares in the last quarter. Morgan Stanley increased its stake in shares of Crocs by 37.6% in the first quarter. Morgan Stanley now owns 1,327,853 shares of the textile maker’s stock worth $9,388,000 after buying an additional 362,712 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Crocs during the fourth quarter worth $2,463,000. Institutional investors own 90.18% of the company’s stock.
Crocs Company Profile
Crocs, Inc is engaged in the design, development, manufacturing, marketing, distribution and sale of casual lifestyle footwear and accessories for men, women, and children. The Company’s segments include Americas, Asia Pacific and Europe. Its products include footwear and accessories that utilize its closed-cell resin, called Croslite, as well as casual lifestyle footwear that use a range of materials.
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