Crocs (NASDAQ:CROX) Hits New 12-Month High Following Analyst Upgrade

Crocs, Inc. (NASDAQ:CROX)’s stock price reached a new 52-week high during trading on Tuesday after Monness Crespi & Hardt raised their price target on the stock from $60.00 to $91.00. Monness Crespi & Hardt currently has a buy rating on the stock. Crocs traded as high as $77.50 and last traded at $76.78, with a volume of 9006 shares traded. The stock had previously closed at $74.97.

Other equities research analysts also recently issued research reports about the stock. UBS Group lifted their target price on shares of Crocs from $48.00 to $57.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 28th. Loop Capital lifted their target price on shares of Crocs from $60.00 to $75.00 in a research report on Wednesday, December 9th. Robert W. Baird lifted their target price on shares of Crocs from $50.00 to $72.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 28th. BidaskClub downgraded shares of Crocs from a “strong-buy” rating to a “buy” rating in a research report on Monday, December 28th. Finally, Stifel Nicolaus lifted their price target on shares of Crocs from $56.00 to $76.00 and gave the stock a “hold” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, three have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $72.50.

In related news, President Michelle Poole sold 9,806 shares of Crocs stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $54.66, for a total transaction of $535,995.96. Following the transaction, the president now owns 164,789 shares in the company, valued at approximately $9,007,366.74. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Andrew Rees sold 34,900 shares of Crocs stock in a transaction on Monday, January 11th. The shares were sold at an average price of $72.10, for a total transaction of $2,516,290.00. Following the completion of the sale, the chief executive officer now owns 849,848 shares in the company, valued at $61,274,040.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 92,040 shares of company stock worth $5,744,560. 2.32% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Glenmede Trust Co. NA increased its holdings in Crocs by 50.9% in the 2nd quarter. Glenmede Trust Co. NA now owns 996 shares of the textile maker’s stock valued at $36,000 after acquiring an additional 336 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in Crocs in the 3rd quarter valued at $53,000. Cerebellum GP LLC bought a new stake in shares of Crocs in the 3rd quarter worth about $64,000. Neo Ivy Capital Management bought a new stake in shares of Crocs in the 3rd quarter worth about $68,000. Finally, FMR LLC increased its holdings in shares of Crocs by 54.2% in the 1st quarter. FMR LLC now owns 2,846 shares of the textile maker’s stock worth $73,000 after buying an additional 1,000 shares during the last quarter. Institutional investors own 95.34% of the company’s stock.

The business’s fifty day moving average price is $64.03 and its two-hundred day moving average price is $48.92. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.07 and a current ratio of 1.70. The stock has a market capitalization of $5.15 billion, a P/E ratio of 34.87, a P/E/G ratio of 1.51 and a beta of 1.77.

Crocs (NASDAQ:CROX) last issued its quarterly earnings results on Sunday, November 1st. The textile maker reported $0.94 EPS for the quarter, beating the consensus estimate of $0.70 by $0.24. The company had revenue of $361.70 million for the quarter, compared to the consensus estimate of $343.98 million. Crocs had a net margin of 12.08% and a return on equity of 102.93%. The firm’s revenue was up 15.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.57 EPS. As a group, analysts forecast that Crocs, Inc. will post 2.65 earnings per share for the current year.

About Crocs (NASDAQ:CROX)

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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