Pivotal Research Increases Crocs (NASDAQ:CROX) Price Target to $87.00


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Crocs (NASDAQ:CROX) had its price target increased by equities research analysts at Pivotal Research from $68.00 to $87.00 in a research report issued on Tuesday, The Fly reports. The brokerage presently has a “buy” rating on the textile maker’s stock. Pivotal Research’s price target indicates a potential upside of 13.93% from the company’s current price.

Other equities research analysts have also issued reports about the stock. UBS Group increased their target price on shares of Crocs from $48.00 to $57.00 and gave the stock a “neutral” rating in a report on Wednesday, October 28th. Loop Capital increased their target price on shares of Crocs from $60.00 to $75.00 in a report on Wednesday, December 9th. BidaskClub lowered shares of Crocs from a “strong-buy” rating to a “buy” rating in a report on Monday, December 28th. OTR Global started coverage on shares of Crocs in a report on Thursday, January 7th. They issued a “positive” rating for the company. Finally, Piper Sandler increased their target price on shares of Crocs from $67.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, December 10th. 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 stock. Crocs presently has an average rating of “Buy” and a consensus price target of $72.50.

NASDAQ CROX opened at $76.36 on Tuesday. Crocs has a 52 week low of $8.40 and a 52 week high of $78.68. The firm has a market capitalization of $5.15 billion, a P/E ratio of 34.87, a PEG ratio of 1.51 and a beta of 1.77. The company has a quick ratio of 1.07, a current ratio of 1.70 and a debt-to-equity ratio of 0.59. The company 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 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.24. Crocs had a net margin of 12.08% and a return on equity of 102.93%. The firm had revenue of $361.70 million during the quarter, compared to analyst estimates of $343.98 million. During the same quarter in the prior year, the firm earned $0.57 EPS. The business’s revenue for the quarter was up 15.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Crocs will post 2.65 EPS for the current year.

In other news, CEO Andrew Rees sold 34,900 shares of the stock in a transaction that occurred on Monday, January 11th. The stock was sold at an average price of $72.10, for a total transaction of $2,516,290.00. Following the completion of the transaction, the chief executive officer now directly owns 849,848 shares in the company, valued at approximately $61,274,040.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Anne Mehlman sold 2,082 shares of the stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $55.00, for a total value of $114,510.00. Following the transaction, the chief financial officer now owns 98,891 shares of the company’s stock, valued at $5,439,005. The disclosure for this sale can be found here. Insiders have sold a total of 92,040 shares of company stock valued at $5,744,560 over the last quarter. Corporate insiders own 2.32% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Glenmede Trust Co. NA increased its stake in Crocs by 50.9% in the second quarter. Glenmede Trust Co. NA now owns 996 shares of the textile maker’s stock worth $36,000 after purchasing an additional 336 shares during the period. Harvest Fund Management Co. Ltd acquired a new stake in shares of Crocs during the third quarter worth about $53,000. Cerebellum GP LLC acquired a new stake in shares of Crocs during the third quarter worth about $64,000. Neo Ivy Capital Management acquired a new stake in shares of Crocs during the third quarter worth about $68,000. Finally, Advisor Group Holdings Inc. lifted its holdings in shares of Crocs by 59.4% during the second quarter. Advisor Group Holdings Inc. now owns 2,079 shares of the textile maker’s stock worth $76,000 after purchasing an additional 775 shares during the period. Institutional investors own 95.34% of the company’s stock.

About Crocs

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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Analyst Recommendations for Crocs (NASDAQ:CROX)

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