Crocs (CROX) Lifted to “Buy” at BidaskClub

Crocs (NASDAQ:CROX) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Thursday, January 11th.

CROX has been the topic of a number of other reports. Zacks Investment Research raised shares of Crocs from a “sell” rating to a “buy” rating and set a $15.00 price objective on the stock in a research report on Tuesday, January 9th. Stifel Nicolaus raised shares of Crocs from a “hold” rating to a “buy” rating in a research report on Friday, December 15th. ValuEngine raised shares of Crocs from a “sell” rating to a “hold” rating in a research report on Wednesday, October 25th. CL King downgraded shares of Crocs from a “buy” rating to a “neutral” rating in a research report on Monday, November 20th. Finally, Pivotal Research reaffirmed a “hold” rating and issued a $13.00 target price (up from $10.00) on shares of Crocs in a research report on Wednesday, January 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $10.67.

Shares of Crocs (CROX) traded down $0.31 during midday trading on Thursday, hitting $13.47. 588,131 shares of the company traded hands, compared to its average volume of 1,095,932. Crocs has a 12 month low of $5.93 and a 12 month high of $14.47. The stock has a market capitalization of $941.21 and a P/E ratio of -38.43.

Crocs (NASDAQ:CROX) last issued its quarterly earnings data on Tuesday, November 7th. The textile maker reported $0.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.06. The business had revenue of $243.27 million for the quarter, compared to the consensus estimate of $236.90 million. Crocs had a negative net margin of 0.60% and a negative return on equity of 0.42%. analysts predict that Crocs will post -0.05 EPS for the current fiscal year.

Several large investors have recently added to or reduced their stakes in the company. Comerica Bank boosted its stake in Crocs by 69.8% in the 4th quarter. Comerica Bank now owns 128,848 shares of the textile maker’s stock worth $1,804,000 after purchasing an additional 52,969 shares in the last quarter. Engineers Gate Manager LP bought a new position in Crocs in the 4th quarter worth about $1,548,000. Cigna Investments Inc. New boosted its stake in Crocs by 87.4% in the 4th quarter. Cigna Investments Inc. New now owns 37,936 shares of the textile maker’s stock worth $479,000 after purchasing an additional 17,694 shares in the last quarter. First Quadrant L P CA boosted its stake in Crocs by 380.7% in the 4th quarter. First Quadrant L P CA now owns 144,735 shares of the textile maker’s stock worth $1,829,000 after purchasing an additional 114,623 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new position in Crocs in the 4th quarter worth about $258,000. 92.18% of the stock is currently owned by hedge funds and other institutional investors.

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Crocs Company Profile

Crocs, Inc is engaged in the design, development, manufacturing, marketing, distribution and sale of casual lifestyle footwear and accessories for men, women, and children. The Company’s segments include Americas, Asia Pacific and Europe. Its products include footwear and accessories that utilize its closed-cell resin, called Croslite, as well as casual lifestyle footwear that use a range of materials.

Analyst Recommendations for Crocs (NASDAQ:CROX)

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