Ajo LP acquired a new stake in shares of Crocs, Inc. (NASDAQ:CROX) during the 1st quarter, HoldingsChannel.com reports. The fund acquired 33,468 shares of the textile maker’s stock, valued at approximately $862,000.
A number of other institutional investors and hedge funds have also modified their holdings of CROX. Oregon Public Employees Retirement Fund bought a new position in Crocs during the fourth quarter valued at approximately $25,000. Signaturefd LLC bought a new position in Crocs during the first quarter valued at approximately $29,000. PNC Financial Services Group Inc. raised its position in Crocs by 26.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,282 shares of the textile maker’s stock valued at $85,000 after acquiring an additional 679 shares in the last quarter. LS Investment Advisors LLC raised its position in Crocs by 121.9% during the fourth quarter. LS Investment Advisors LLC now owns 4,724 shares of the textile maker’s stock valued at $123,000 after acquiring an additional 2,595 shares in the last quarter. Finally, Meeder Asset Management Inc. raised its position in Crocs by 24.9% during the first quarter. Meeder Asset Management Inc. now owns 5,113 shares of the textile maker’s stock valued at $130,000 after acquiring an additional 1,019 shares in the last quarter. 97.21% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages recently weighed in on CROX. Zacks Investment Research raised shares of Crocs from a “hold” rating to a “strong-buy” rating and set a $28.00 price objective on the stock in a research report on Thursday, May 9th. BidaskClub raised shares of Crocs from a “sell” rating to a “hold” rating in a research report on Tuesday. TheStreet lowered shares of Crocs from a “b-” rating to a “c-” rating in a research report on Wednesday, March 20th. ValuEngine lowered shares of Crocs from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Finally, Piper Jaffray Companies lowered shares of Crocs from an “overweight” rating to a “neutral” rating and set a $31.00 price target on the stock. in a research report on Tuesday, April 23rd. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $30.96.
NASDAQ:CROX opened at $19.76 on Wednesday. Crocs, Inc. has a 12 month low of $16.26 and a 12 month high of $31.88. The company has a market capitalization of $1.38 billion, a PE ratio of 22.98, a PEG ratio of 1.04 and a beta of 0.97. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.32 and a current ratio of 1.95.
Crocs (NASDAQ:CROX) last released its quarterly earnings results on Tuesday, May 7th. The textile maker reported $0.36 EPS for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.11. Crocs had a net margin of 4.97% and a return on equity of 35.81%. The company had revenue of $295.95 million for the quarter, compared to analyst estimates of $288.72 million. During the same quarter last year, the firm posted $0.15 earnings per share. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. Analysts predict that Crocs, Inc. will post 1.25 earnings per share for the current fiscal year.
Crocs declared that its board has approved a share buyback plan on Tuesday, May 7th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the textile maker to reacquire up to 25.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
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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 worldwide. It offers various footwear products, including clogs, sandals, flips and slides, shoes, and boots under the Crocs brand name.
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