DekaBank Deutsche Girozentrale acquired a new position in shares of Crocs, Inc. (NASDAQ:CROX) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 24,832 shares of the textile maker’s stock, valued at approximately $492,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund bought a new stake in shares of Crocs during the 4th quarter worth $25,000. Signaturefd LLC bought a new stake in shares of Crocs during the 1st quarter worth $29,000. PNC Financial Services Group Inc. lifted its holdings in shares of Crocs by 26.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,282 shares of the textile maker’s stock worth $85,000 after acquiring an additional 679 shares during the last quarter. LS Investment Advisors LLC lifted its holdings in shares of Crocs by 121.9% during the 4th quarter. LS Investment Advisors LLC now owns 4,724 shares of the textile maker’s stock worth $123,000 after acquiring an additional 2,595 shares during the last quarter. Finally, Meeder Asset Management Inc. lifted its holdings in shares of Crocs by 24.9% during the 1st quarter. Meeder Asset Management Inc. now owns 5,113 shares of the textile maker’s stock worth $130,000 after acquiring an additional 1,019 shares during the last quarter. 97.21% of the stock is owned by institutional investors.
Shares of NASDAQ CROX opened at $19.21 on Thursday. The company has a market capitalization of $1.42 billion, a PE ratio of 29.06, a PEG ratio of 1.06 and a beta of 0.96. Crocs, Inc. has a 52-week low of $16.26 and a 52-week high of $31.88. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.32 and a current ratio of 1.95.
Crocs (NASDAQ:CROX) last released its quarterly earnings data on Tuesday, May 7th. The textile maker reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.11. Crocs had a net margin of 4.97% and a return on equity of 35.81%. The firm had revenue of $295.95 million during the quarter, compared to analysts’ expectations of $288.72 million. During the same period in the previous year, the company earned $0.15 earnings per share. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. On average, research analysts anticipate that Crocs, Inc. will post 1.25 earnings per share for the current year.
Crocs declared that its Board of Directors has authorized a share buyback program on Tuesday, May 7th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the textile maker to buy up to 25.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
A number of research firms have recently issued reports on CROX. Piper Jaffray Companies downgraded shares of Crocs from an “overweight” rating to a “neutral” rating and set a $31.00 price objective for the company. in a report on Tuesday, April 23rd. BidaskClub downgraded shares of Crocs from a “hold” rating to a “sell” rating in a report on Wednesday, May 29th. Zacks Investment Research raised shares of Crocs from a “hold” rating to a “strong-buy” rating and set a $28.00 price objective for the company in a report on Thursday, May 9th. ValuEngine downgraded shares of Crocs from a “buy” rating to a “hold” rating in a report on Friday, May 10th. Finally, Monness Crespi & Hardt upgraded shares of Crocs from a “neutral” rating to a “buy” rating and set a $32.00 target price on the stock in a research report on Thursday, February 28th. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $30.96.
Crocs, Inc, together with its subsidiaries, designs, develops, manufactures, markets, and distributes casual lifestyle footwear and accessories for men, women, and children worldwide. It offers various footwear products, including clogs, sandals, flips and slides, shoes, and boots under the Crocs brand name.
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