Crocs (NASDAQ:CROX) had its price objective lifted by Piper Sandler from $71.00 to $90.00 in a research note issued to investors on Tuesday, The Fly reports. The brokerage currently has an “overweight” rating on the textile maker’s stock. Piper Sandler’s price target indicates a potential upside of 17.86% from the stock’s previous close. Piper Sandler also issued estimates for Crocs’ Q2 2021 earnings at $1.26 EPS, Q3 2021 earnings at $1.14 EPS and Q2 2022 earnings at $1.55 EPS.
Several other research analysts have also recently weighed in on the company. BidaskClub cut Crocs from a “strong-buy” rating to a “buy” rating in a research report on Monday, December 28th. Stifel Nicolaus lifted their price target on Crocs from $42.00 to $50.00 and gave the stock a “hold” rating in a research note on Wednesday, October 28th. They noted that the move was a valuation call. Pivotal Research boosted their price objective on Crocs from $68.00 to $87.00 and gave the stock a “buy” rating in a research note on Tuesday. UBS Group upped their price target on Crocs from $48.00 to $57.00 and gave the company a “neutral” rating in a research note on Wednesday, October 28th. Finally, Robert W. Baird upped their price target on Crocs from $50.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday, October 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $72.50.
NASDAQ CROX opened at $76.36 on Tuesday. 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 company 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 has a one year low of $8.40 and a one year high of $78.68. The stock has a 50 day moving average price of $64.03 and a 200-day moving average price of $48.92.
Crocs (NASDAQ:CROX) last released its quarterly earnings results on Sunday, November 1st. The textile maker reported $0.94 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.24. Crocs had a return on equity of 102.93% and a net margin of 12.08%. The company had revenue of $361.70 million for the quarter, compared to analyst estimates of $343.98 million. During the same quarter in the prior year, the firm posted $0.57 EPS. Crocs’s quarterly revenue was up 15.6% compared to the same quarter last year. As a group, equities analysts predict that Crocs will post 2.65 EPS for the current fiscal year.
In related news, CEO Andrew Rees sold 31,552 shares of the company’s stock in a transaction dated Thursday, October 29th. The stock was sold at an average price of $54.00, for a total value of $1,703,808.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Michelle Poole sold 9,806 shares of the company’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $54.66, for a total value of $535,995.96. Following the completion of the sale, the president now directly owns 164,789 shares of the company’s stock, valued at $9,007,366.74. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 92,040 shares of company stock valued at $5,744,560. Insiders own 2.32% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Ballew Advisors Inc bought a new stake in Crocs in the fourth quarter valued at about $353,000. Wedge Capital Management L L P NC acquired a new position in Crocs in the fourth quarter valued at approximately $28,112,000. Strs Ohio boosted its stake in Crocs by 44.7% in the third quarter. Strs Ohio now owns 5,500 shares of the textile maker’s stock valued at $235,000 after acquiring an additional 1,700 shares during the period. Jupiter Wealth Management LLC acquired a new position in shares of Crocs during the third quarter worth approximately $128,000. Finally, Paloma Partners Management Co acquired a new position in shares of Crocs during the third quarter worth approximately $1,279,000. 95.34% of the stock is owned by hedge funds and other institutional investors.
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.
Further Reading: Percentage Decliners
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