Piper Sandler Comments on Crocs, Inc.’s FY2021 Earnings (NASDAQ:CROX)

Crocs, Inc. (NASDAQ:CROX) – Equities research analysts at Piper Sandler upped their FY2021 earnings per share (EPS) estimates for shares of Crocs in a report released on Wednesday, January 12th. Piper Sandler analyst E. Murphy now expects that the textile maker will post earnings of $8.18 per share for the year, up from their prior forecast of $7.62. Piper Sandler currently has a “Overweight” rating and a $246.00 target price on the stock. Piper Sandler also issued estimates for Crocs’ Q1 2022 earnings at $1.48 EPS, Q2 2022 earnings at $2.39 EPS, Q3 2022 earnings at $3.02 EPS, Q4 2022 earnings at $2.40 EPS, FY2022 earnings at $9.33 EPS, Q1 2023 earnings at $2.33 EPS, Q2 2023 earnings at $3.24 EPS, Q3 2023 earnings at $3.71 EPS and FY2023 earnings at $12.03 EPS.

Other equities research analysts have also recently issued research reports about the stock. Robert W. Baird upped their price objective on shares of Crocs from $215.00 to $250.00 and gave the stock an “outperform” rating in a research report on Thursday, October 21st. UBS Group increased their target price on shares of Crocs from $157.00 to $175.00 and gave the stock a “neutral” rating in a report on Monday, October 25th. Loop Capital raised their price objective on shares of Crocs from $180.00 to $190.00 in a report on Tuesday. Stifel Nicolaus reiterated a “hold” rating and issued a $157.00 price objective (up previously from $151.00) on shares of Crocs in a report on Friday, October 22nd. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded shares of Crocs from a “hold” rating to a “strong-buy” rating and set a $141.00 price objective for the company in a report on Tuesday. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $182.56.

CROX opened at $122.54 on Thursday. Crocs has a twelve month low of $65.37 and a twelve month high of $183.88. The company has a 50-day simple moving average of $151.60 and a 200 day simple moving average of $143.79. The company has a quick ratio of 2.02, a current ratio of 2.63 and a debt-to-equity ratio of 1.94. The stock has a market capitalization of $7.21 billion, a price-to-earnings ratio of 10.65, a P/E/G ratio of 0.90 and a beta of 1.71.

Crocs (NASDAQ:CROX) last released its quarterly earnings results on Wednesday, October 20th. The textile maker reported $2.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.88 by $0.59. Crocs had a net margin of 35.27% and a return on equity of 142.28%. The business had revenue of $625.92 million for the quarter, compared to the consensus estimate of $609.75 million. During the same period in the prior year, the company posted $0.94 earnings per share. Crocs’s revenue was up 73.0% compared to the same quarter last year.

Several institutional investors have recently made changes to their positions in the stock. Capital Fund Management S.A. grew its stake in Crocs by 97.6% in the second quarter. Capital Fund Management S.A. now owns 95,231 shares of the textile maker’s stock worth $11,096,000 after purchasing an additional 47,029 shares during the period. Marshall Wace LLP boosted its position in shares of Crocs by 1,586.3% during the second quarter. Marshall Wace LLP now owns 303,874 shares of the textile maker’s stock valued at $35,407,000 after buying an additional 285,854 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of Crocs by 54.7% during the third quarter. Pacer Advisors Inc. now owns 11,115 shares of the textile maker’s stock valued at $1,595,000 after buying an additional 3,932 shares during the last quarter. Northern Trust Corp lifted its holdings in Crocs by 16.8% in the second quarter. Northern Trust Corp now owns 952,458 shares of the textile maker’s stock valued at $110,980,000 after acquiring an additional 137,207 shares during the period. Finally, Formula Growth Ltd. lifted its holdings in Crocs by 45.0% in the second quarter. Formula Growth Ltd. now owns 174,060 shares of the textile maker’s stock valued at $20,281,000 after acquiring an additional 54,000 shares during the period. Institutional investors own 93.18% of the company’s stock.

In other news, CEO Andrew Rees sold 10,000 shares of the business’s stock in a transaction dated Friday, November 5th. The stock was sold at an average price of $180.19, for a total transaction of $1,801,900.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ian Bickley sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, November 4th. The stock was sold at an average price of $177.13, for a total value of $531,390.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,000 shares of company stock valued at $3,171,340. Insiders own 2.42% of the company’s stock.

Crocs Company Profile

Crocs, Inc engages in the design, development, manufacturing, worldwide marketing, sale and distribution of casual footwear, apparel, and accessories for men, women, and children. It operates through the following segments: Americas, Asia Pacific and Europe, Middle East & Africa (EMEA). The Americas segment consists of the revenues and expenses related to product sales in North and South America.

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Earnings History and Estimates for Crocs (NASDAQ:CROX)

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