Crocs (NASDAQ:CROX) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday, BidAskClub reports.
A number of other analysts have also weighed in on the company. ValuEngine lowered Crocs from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. Zacks Investment Research upgraded Crocs from a “hold” rating to a “strong-buy” rating and set a $28.00 target price on the stock in a research note on Thursday, May 9th. Piper Jaffray Companies lowered Crocs from an “overweight” rating to a “neutral” rating and set a $31.00 target price on the stock. in a research note on Tuesday, April 23rd. TheStreet lowered Crocs from a “b-” rating to a “c-” rating in a research note on Wednesday, March 20th. Finally, Monness Crespi & Hardt upgraded Crocs from a “neutral” rating to a “buy” rating and set a $32.00 target price on the stock in a research note on Thursday, February 28th. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $30.96.
CROX stock opened at $19.21 on Tuesday. 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 has a twelve month low of $16.26 and a twelve month high of $31.88. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 22.34, a price-to-earnings-growth ratio of 1.06 and a beta of 0.96.
Crocs (NASDAQ:CROX) last released its earnings results on Tuesday, May 7th. The textile maker reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.11. Crocs had a return on equity of 35.81% and a net margin of 4.97%. The business 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 business’s revenue was up 4.5% compared to the same quarter last year. Sell-side analysts predict that Crocs will post 1.25 earnings per share for the current fiscal year.
Crocs declared that its board has initiated a share repurchase program on Tuesday, May 7th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the textile maker to reacquire up to 25.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.
Institutional investors and hedge funds have recently bought and sold shares of the company. Oregon Public Employees Retirement Fund bought a new position in shares of Crocs during the 4th quarter worth $25,000. Signaturefd LLC bought a new position in shares of Crocs during the 1st quarter worth $29,000. FMR LLC grew its position in shares of Crocs by 54.2% during the 1st quarter. FMR LLC now owns 2,846 shares of the textile maker’s stock worth $73,000 after buying an additional 1,000 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Crocs by 26.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,282 shares of the textile maker’s stock worth $85,000 after buying an additional 679 shares in the last quarter. Finally, LS Investment Advisors LLC grew its position in shares of Crocs by 121.9% during the 4th quarter. LS Investment Advisors LLC now owns 4,724 shares of the textile maker’s stock worth $123,000 after buying an additional 2,595 shares in the last quarter. 97.21% of the stock is currently owned by institutional investors and hedge funds.
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.
Further Reading: Equal Weight Rating
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