Robert W. Baird upgraded shares of Crocs (NASDAQ:CROX) from a neutral rating to an outperform rating in a research note issued to investors on Friday morning, Benzinga reports. Robert W. Baird currently has $29.00 target price on the textile maker’s stock.
A number of other equities analysts have also commented on CROX. BidaskClub upgraded shares of Crocs from a buy rating to a strong-buy rating in a research report on Wednesday, February 27th. Zacks Investment Research lowered shares of Crocs from a strong-buy rating to a hold rating in a research report on Monday, March 4th. ValuEngine lowered shares of Crocs from a strong-buy rating to a buy rating in a research report on Friday, March 1st. TheStreet lowered shares of Crocs from a b- rating to a c- rating in a research report on Wednesday, March 20th. Finally, Monness Crespi & Hardt upgraded shares of Crocs from a neutral rating to a buy rating and set a $32.00 price objective for the company in a research report on Thursday, February 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $29.13.
CROX opened at $19.25 on Friday. The stock has a market capitalization of $1.39 billion, a P/E ratio of 22.38, a price-to-earnings-growth ratio of 1.04 and a beta of 0.97. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.95 and a quick ratio of 1.32. The stock has a 50-day simple moving average of $20.91. Crocs has a twelve month low of $16.26 and a twelve month high of $31.88.
Crocs (NASDAQ:CROX) last posted its earnings results on Tuesday, May 7th. The textile maker reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.11. The firm had revenue of $295.95 million during the quarter, compared to the consensus estimate of $288.72 million. Crocs had a net margin of 4.97% and a return on equity of 35.81%. The company’s revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the company earned $0.15 earnings per share. On average, research analysts expect that Crocs will post 1.25 earnings per share for the current year.
Crocs announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, May 7th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the textile maker to repurchase up to 25.8% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.
Institutional investors have recently made changes to their positions in the business. BlackRock Inc. grew its stake in Crocs by 0.6% in the fourth quarter. BlackRock Inc. now owns 10,192,033 shares of the textile maker’s stock valued at $264,789,000 after purchasing an additional 64,014 shares during the last quarter. Marshall Wace LLP grew its stake in Crocs by 95.0% in the first quarter. Marshall Wace LLP now owns 1,739,464 shares of the textile maker’s stock valued at $44,790,000 after purchasing an additional 847,515 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in Crocs by 4.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,613,772 shares of the textile maker’s stock valued at $41,926,000 after purchasing an additional 69,897 shares during the last quarter. MERIAN GLOBAL INVESTORS UK Ltd grew its stake in Crocs by 7.0% in the first quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 1,590,019 shares of the textile maker’s stock valued at $40,942,000 after purchasing an additional 103,351 shares during the last quarter. Finally, Norges Bank purchased a new position in Crocs in the fourth quarter valued at about $40,259,000. Institutional investors and hedge funds own 97.21% of the company’s stock.
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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