Crocs (NASDAQ:CROX) Stock Price Expected to Rise, Loop Capital Analyst Says

Crocs (NASDAQ:CROX) had its target price increased by equities researchers at Loop Capital from $110.00 to $125.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the textile maker’s stock. Loop Capital’s price target suggests a potential upside of 14.94% from the stock’s previous close.

A number of other research analysts have also weighed in on the stock. Robert W. Baird cut their price target on shares of Crocs from $180.00 to $150.00 and set an “outperform” rating on the stock in a research note on Monday, February 10th. StockNews.com lowered shares of Crocs from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. KeyCorp cut their target price on shares of Crocs from $150.00 to $120.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. UBS Group upped their price objective on Crocs from $122.00 to $132.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Finally, Bank of America increased their price objective on Crocs from $144.00 to $153.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $144.53.

Crocs Stock Up 2.4 %

CROX stock traded up $2.55 during mid-day trading on Tuesday, hitting $108.75. 454,981 shares of the company were exchanged, compared to its average volume of 1,381,260. The firm has a fifty day simple moving average of $102.90 and a 200 day simple moving average of $112.66. The company has a current ratio of 1.18, a quick ratio of 0.70 and a debt-to-equity ratio of 0.74. Crocs has a twelve month low of $88.25 and a twelve month high of $165.32. The company has a market capitalization of $6.10 billion, a PE ratio of 6.79, a price-to-earnings-growth ratio of 1.80 and a beta of 1.84.

Crocs (NASDAQ:CROX) last issued its quarterly earnings results on Thursday, February 13th. The textile maker reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.25. Crocs had a return on equity of 46.27% and a net margin of 23.16%. On average, research analysts forecast that Crocs will post 13.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Adam Michaels sold 15,000 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $106.69, for a total transaction of $1,600,350.00. Following the completion of the sale, the executive vice president now owns 89,323 shares in the company, valued at $9,529,870.87. This trade represents a 14.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Shannon Sisler sold 4,659 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $109.75, for a total transaction of $511,325.25. Following the completion of the transaction, the executive vice president now directly owns 29,299 shares in the company, valued at approximately $3,215,565.25. The trade was a 13.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.72% of the stock is owned by company insiders.

Hedge Funds Weigh In On Crocs

Several hedge funds and other institutional investors have recently modified their holdings of the business. Arrowstreet Capital Limited Partnership grew its position in shares of Crocs by 1,516.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,326,564 shares of the textile maker’s stock valued at $145,299,000 after buying an additional 1,244,480 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Crocs by 39.6% during the 4th quarter. Pacer Advisors Inc. now owns 2,037,121 shares of the textile maker’s stock valued at $223,126,000 after purchasing an additional 577,467 shares during the last quarter. Norges Bank purchased a new position in Crocs during the 4th quarter worth $62,221,000. Altshuler Shaham Ltd boosted its position in Crocs by 30,778.0% in the fourth quarter. Altshuler Shaham Ltd now owns 456,995 shares of the textile maker’s stock worth $50,055,000 after purchasing an additional 455,515 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. raised its position in Crocs by 49.0% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,308,402 shares of the textile maker’s stock worth $143,309,000 after acquiring an additional 429,994 shares during the period. Institutional investors own 93.44% of the company’s stock.

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.