Crocs (NASDAQ:CROX) Price Target Raised to $124.00

Crocs (NASDAQ:CROX) had its target price hoisted by UBS Group from $117.00 to $124.00 in a research report report published on Tuesday, Benzinga reports. They currently have a neutral rating on the textile maker’s stock.

CROX has been the topic of a number of other reports. Williams Trading reaffirmed a hold rating and set a $125.00 target price (down from $135.00) on shares of Crocs in a report on Tuesday, April 16th. Stifel Nicolaus lifted their price target on Crocs from $132.00 to $140.00 and gave the stock a buy rating in a research note on Friday, February 16th. Piper Sandler lifted their price target on Crocs from $135.00 to $140.00 and gave the stock an overweight rating in a research note on Friday, February 16th. Raymond James lifted their price target on Crocs from $120.00 to $145.00 and gave the stock a strong-buy rating in a research note on Friday, February 16th. Finally, OTR Global raised Crocs from a mixed rating to a positive rating in a research note on Thursday, April 11th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $145.17.

Crocs Price Performance

NASDAQ:CROX opened at $123.51 on Tuesday. The business’s 50-day moving average price is $128.18 and its 200 day moving average price is $107.18. The firm has a market cap of $7.47 billion, a P/E ratio of 9.64, a PEG ratio of 1.60 and a beta of 2.01. Crocs has a 52-week low of $74.00 and a 52-week high of $150.28. The company has a quick ratio of 0.75, a current ratio of 1.30 and a debt-to-equity ratio of 1.13.

Crocs (NASDAQ:CROX) last released its earnings results on Thursday, February 15th. The textile maker reported $2.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.20. The firm had revenue of $960.10 million for the quarter, compared to analyst estimates of $958.39 million. Crocs had a return on equity of 61.97% and a net margin of 20.00%. Crocs’s revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.65 earnings per share. As a group, sell-side analysts predict that Crocs will post 12.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Crocs news, Director John B. Replogle acquired 1,972 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was purchased at an average cost of $126.75 per share, for a total transaction of $249,951.00. Following the transaction, the director now owns 3,153 shares of the company’s stock, valued at approximately $399,642.75. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, President Michelle Poole sold 5,074 shares of Crocs stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $124.98, for a total transaction of $634,148.52. Following the completion of the sale, the president now directly owns 52,966 shares in the company, valued at approximately $6,619,690.68. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John B. Replogle purchased 1,972 shares of Crocs stock in a transaction dated Thursday, March 14th. The shares were purchased at an average price of $126.75 per share, with a total value of $249,951.00. Following the completion of the acquisition, the director now owns 3,153 shares in the company, valued at $399,642.75. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 39,867 shares of company stock worth $4,786,276. 2.69% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Crocs

Several institutional investors have recently made changes to their positions in the company. Albert D Mason Inc. acquired a new stake in shares of Crocs during the 1st quarter valued at about $223,000. V Square Quantitative Management LLC acquired a new stake in Crocs in the 1st quarter worth approximately $25,000. Townsend & Associates Inc lifted its holdings in Crocs by 0.4% in the 1st quarter. Townsend & Associates Inc now owns 126,942 shares of the textile maker’s stock worth $18,254,000 after purchasing an additional 559 shares during the last quarter. Louisiana State Employees Retirement System lifted its holdings in Crocs by 2.4% in the 1st quarter. Louisiana State Employees Retirement System now owns 17,400 shares of the textile maker’s stock worth $2,502,000 after purchasing an additional 400 shares during the last quarter. Finally, Fifth Third Bancorp lifted its holdings in Crocs by 3.2% in the 1st quarter. Fifth Third Bancorp now owns 4,060 shares of the textile maker’s stock worth $584,000 after purchasing an additional 127 shares during the last quarter. 93.44% of the stock is currently owned by institutional investors and hedge funds.

About Crocs

Crocs, Inc, together with its subsidiaries, designs, develops, manufactures, markets, distributes, and sells casual lifestyle footwear and accessories for men, women, and children under Crocs and HEYDUDE Brand in the United States and internationally. The company offers various footwear products, including clogs, sandals, slides, flips, wedges, platforms, socks, boots, charms, flip flops, sneakers, and slippers.