Zacks Investment Research upgraded shares of Crocs (NASDAQ:CROX) from a sell rating to a buy rating in a research note issued to investors on Tuesday, January 9th. Zacks Investment Research currently has $15.00 target price on the textile maker’s stock.
According to Zacks, “Crocs, Inc. is a world leader in innovative casual footwear for men, women and children. Crocs offers a broad portfolio of all-season products, while remaining true to its core molded footwear heritage. All Crocs shoes feature Croslite material, a proprietary, revolutionary technology that gives each pair of shoes the soft, comfortable, lightweight, non-marking and odor-resistant qualities that Crocs fans have known and love. Crocs celebrates the fun of being a little different and encourages fans to Find Your Fun in every colorful pair of shoes. Crocs has sold more than 300 million pairs of shoes in more than 90 countries around the world. “
Several other research firms have also issued reports on CROX. Stifel Nicolaus raised Crocs from a hold rating to a buy rating in a research note on Friday, December 15th. ValuEngine raised Crocs from a sell rating to a hold rating in a research note on Wednesday, October 25th. BidaskClub raised Crocs from a buy rating to a strong-buy rating in a research note on Wednesday, December 27th. Buckingham Research lowered Crocs from a neutral rating to an underperform rating in a research note on Friday, January 5th. Finally, Piper Jaffray Companies set a $12.00 price target on Crocs and gave the stock a hold rating in a research note on Monday, January 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $10.67.
Shares of Crocs (NASDAQ:CROX) opened at $13.78 on Tuesday. Crocs has a 1 year low of $5.93 and a 1 year high of $14.47.
Crocs (NASDAQ:CROX) last released its quarterly earnings results on Tuesday, November 7th. The textile maker reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.06. The business had revenue of $243.27 million during the quarter, compared to analysts’ expectations of $236.90 million. Crocs had a negative return on equity of 0.42% and a negative net margin of 0.60%. equities analysts predict that Crocs will post -0.05 EPS for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP increased its holdings in shares of Crocs by 36.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,532,024 shares of the textile maker’s stock valued at $27,232,000 after acquiring an additional 937,111 shares during the period. Vanguard Group Inc. increased its holdings in shares of Crocs by 6.4% in the 2nd quarter. Vanguard Group Inc. now owns 6,846,368 shares of the textile maker’s stock valued at $52,787,000 after acquiring an additional 408,899 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Crocs by 18.2% in the 2nd quarter. Renaissance Technologies LLC now owns 2,515,710 shares of the textile maker’s stock valued at $19,396,000 after acquiring an additional 388,074 shares during the period. Skandinaviska Enskilda Banken AB publ increased its holdings in shares of Crocs by 24.0% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 1,399,970 shares of the textile maker’s stock valued at $13,580,000 after acquiring an additional 271,391 shares during the period. Finally, OxFORD Asset Management LLP increased its holdings in shares of Crocs by 216.8% in the 3rd quarter. OxFORD Asset Management LLP now owns 369,947 shares of the textile maker’s stock valued at $3,606,000 after acquiring an additional 253,160 shares during the period. 92.18% of the stock is owned by institutional investors and hedge funds.
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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.
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