Crocs (NASDAQ:CROX) PT Lowered to $116.00

Crocs (NASDAQ:CROXGet Rating) had its price objective cut by B. Riley from $120.00 to $116.00 in a research report released on Friday, The Fly reports. B. Riley also issued estimates for Crocs’ FY2023 earnings at $11.63 EPS, FY2024 earnings at $13.86 EPS and FY2025 earnings at $15.47 EPS.

CROX has been the topic of several other reports. Wedbush initiated coverage on Crocs in a research report on Thursday, April 28th. They set an outperform rating and a $90.00 price target on the stock. OTR Global cut Crocs to a positive rating in a research report on Tuesday, July 19th. Stifel Nicolaus decreased their price objective on shares of Crocs from $59.00 to $54.00 in a research report on Wednesday, July 20th. UBS Group decreased their price objective on shares of Crocs from $73.00 to $59.00 and set a neutral rating on the stock in a research report on Friday, July 15th. Finally, Robert W. Baird restated an outperform rating and issued a $90.00 price objective on shares of Crocs in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $94.25.

Crocs Trading Up 6.6 %

Shares of Crocs stock opened at $73.61 on Friday. Crocs has a 52-week low of $46.08 and a 52-week high of $183.88. The stock’s 50-day simple moving average is $57.01 and its 200 day simple moving average is $70.46. The stock has a market capitalization of $4.53 billion, a P/E ratio of 8.40, a P/E/G ratio of 0.45 and a beta of 2.02. The company has a debt-to-equity ratio of 5.58, a quick ratio of 1.19 and a current ratio of 1.94.

Crocs (NASDAQ:CROXGet Rating) last announced its quarterly earnings data on Thursday, August 4th. The textile maker reported $3.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.73 by $0.51. Crocs had a return on equity of 202.79% and a net margin of 19.08%. The business had revenue of $964.60 million for the quarter, compared to analysts’ expectations of $938.93 million. During the same period in the previous year, the business posted $2.23 EPS. The firm’s quarterly revenue was up 50.6% compared to the same quarter last year. As a group, research analysts anticipate that Crocs will post 10.22 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Anne Mehlman acquired 2,600 shares of the company’s stock in a transaction dated Monday, May 9th. The stock was purchased at an average price of $54.91 per share, with a total value of $142,766.00. Following the completion of the purchase, the chief financial officer now owns 121,153 shares in the company, valued at approximately $6,652,511.23. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Anne Mehlman acquired 2,600 shares of the company’s stock in a transaction dated Monday, May 9th. The stock was purchased at an average price of $54.91 per share, with a total value of $142,766.00. Following the completion of the purchase, the chief financial officer now owns 121,153 shares in the company, valued at approximately $6,652,511.23. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Daniel P. Hart acquired 5,000 shares of the company’s stock in a transaction dated Tuesday, May 10th. The shares were bought at an average cost of $52.63 per share, with a total value of $263,150.00. Following the purchase, the executive vice president now owns 263,322 shares of the company’s stock, valued at approximately $13,858,636.86. The disclosure for this purchase can be found here. Insiders bought a total of 17,600 shares of company stock valued at $947,066 over the last quarter. 2.71% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Crocs

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. FinTrust Capital Advisors LLC lifted its position in Crocs by 100.0% during the first quarter. FinTrust Capital Advisors LLC now owns 400 shares of the textile maker’s stock valued at $31,000 after purchasing an additional 200 shares during the period. Northwestern Mutual Wealth Management Co. bought a new position in Crocs in the fourth quarter worth approximately $32,000. Koshinski Asset Management Inc. increased its stake in shares of Crocs by 1,716.7% in the first quarter. Koshinski Asset Management Inc. now owns 436 shares of the textile maker’s stock worth $33,000 after purchasing an additional 412 shares in the last quarter. National Bank of Canada FI purchased a new stake in shares of Crocs in the fourth quarter worth $36,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Crocs in the first quarter worth $36,000. Hedge funds and other institutional investors own 90.14% of the company’s stock.

Crocs Company Profile

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Crocs, Inc, together with its subsidiaries, designs, develops, manufactures, markets, and distributes casual lifestyle footwear and accessories for men, women, and children. It offers various footwear products, including clogs, sandals, slides, flip-flops, boots, flats, wedges, platforms, socks, shoe charms, loafers, sneakers, and slippers under the Crocs brand name.

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