Robert W. Baird upgraded shares of Crocs (NASDAQ:CROX) from a neutral rating to an outperform rating in a research note issued to investors on Friday, Benzinga reports. Robert W. Baird currently has $29.00 target price on the textile maker’s stock.
Several other research firms have also recently weighed in on CROX. BidaskClub upgraded Crocs from a buy rating to a strong-buy rating in a report on Wednesday, February 27th. Piper Jaffray Companies cut Crocs from an overweight rating to a neutral rating and set a $31.00 price target for the company. in a report on Tuesday, April 23rd. TheStreet cut Crocs from a b- rating to a c- rating in a report on Wednesday, March 20th. Monness Crespi & Hardt upgraded Crocs from a neutral rating to a buy rating and set a $32.00 price target for the company in a report on Thursday, February 28th. Finally, ValuEngine cut Crocs from a strong-buy rating to a buy rating in a report on Friday, March 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $29.13.
NASDAQ CROX opened at $19.36 on Friday. The company has a market cap of $1.39 billion, a price-to-earnings ratio of 22.51, a PEG ratio of 1.04 and a beta of 0.96. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.95 and a quick ratio of 1.32. Crocs has a 1-year low of $16.26 and a 1-year high of $31.88.
Crocs (NASDAQ:CROX) last released its quarterly earnings results 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. The business had revenue of $295.95 million during the quarter, compared to analysts’ expectations of $288.72 million. Crocs had a return on equity of 35.81% and a net margin of 4.97%. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.15 EPS. As a group, research analysts forecast that Crocs will post 1.25 EPS for the current fiscal year.
Crocs announced that its board has initiated a stock repurchase plan on Tuesday, May 7th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the textile maker to purchase up to 25.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.
Large investors have recently bought and sold shares of the company. Signaturefd LLC bought a new stake in shares of Crocs in the 1st quarter valued at approximately $29,000. FMR LLC lifted its stake in shares of Crocs by 54.2% in the 1st quarter. FMR LLC now owns 2,846 shares of the textile maker’s stock valued at $73,000 after purchasing an additional 1,000 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake 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. Bank of Montreal Can lifted its stake in shares of Crocs by 152.0% during the 4th quarter. Bank of Montreal Can now owns 5,091 shares of the textile maker’s stock worth $133,000 after acquiring an additional 3,071 shares during the last quarter. Finally, Meeder Asset Management Inc. lifted its stake 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 and hedge funds.
Crocs Company Profile
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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