Williams Trading Reaffirms Hold Rating for Crocs (NASDAQ:CROX)

Crocs (NASDAQ:CROX)‘s stock had its “hold” rating reissued by Williams Trading in a research note issued to investors on Tuesday, Benzinga reports. They presently have a $125.00 price target on the textile maker’s stock, down from their previous price target of $135.00. Williams Trading’s price objective would suggest a potential upside of 4.75% from the stock’s current price.

Several other brokerages also recently issued reports on CROX. Raymond James raised their price objective on shares of Crocs from $120.00 to $145.00 and gave the stock a “strong-buy” rating in a research report on Friday, February 16th. Barclays started coverage on shares of Crocs in a research report on Monday, April 1st. They set an “overweight” rating and a $167.00 price objective on the stock. KeyCorp raised their price objective on shares of Crocs from $130.00 to $149.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. Stifel Nicolaus lifted their target price on shares of Crocs from $132.00 to $140.00 and gave the company a “buy” rating in a report on Friday, February 16th. Finally, B. Riley boosted their price target on shares of Crocs from $95.00 to $122.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 10th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Crocs presently has an average rating of “Moderate Buy” and a consensus price target of $147.09.

Crocs Price Performance

Shares of NASDAQ:CROX opened at $119.33 on Tuesday. The company’s fifty day moving average price is $126.50 and its 200 day moving average price is $105.74. Crocs has a 12 month low of $74.00 and a 12 month high of $151.32. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.30 and a quick ratio of 0.75. The firm has a market capitalization of $7.22 billion, a P/E ratio of 9.32, a P/E/G ratio of 1.55 and a beta of 2.01.

Crocs (NASDAQ:CROX) last issued its quarterly earnings data on Thursday, February 15th. The textile maker reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.20. Crocs had a net margin of 20.00% and a return on equity of 61.97%. The company had revenue of $960.10 million for the quarter, compared to the consensus estimate of $958.39 million. During the same period last year, the firm posted $2.65 EPS. Crocs’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, sell-side analysts predict that Crocs will post 12.46 earnings per share for the current fiscal year.

Insider Transactions at Crocs

In other Crocs news, Director Ian Bickley sold 16,785 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $120.05, for a total transaction of $2,015,039.25. Following the transaction, the director now directly owns 31,815 shares in the company, valued at $3,819,390.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Crocs news, Director Ian Bickley sold 16,785 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $120.05, for a total transaction of $2,015,039.25. Following the transaction, the director now directly owns 31,815 shares in the company, valued at $3,819,390.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Michelle Poole sold 4,793 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $119.15, for a total transaction of $571,085.95. Following the transaction, the president now owns 64,912 shares in the company, valued at $7,734,264.80. The disclosure for this sale can be found here. Insiders have sold a total of 39,867 shares of company stock worth $4,786,276 over the last ninety days. 2.69% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. WIT Partners Advisory Pte. Ltd. purchased a new stake in shares of Crocs in the fourth quarter valued at about $266,431,000. Coatue Management LLC lifted its holdings in shares of Crocs by 836.7% in the fourth quarter. Coatue Management LLC now owns 1,029,765 shares of the textile maker’s stock valued at $96,190,000 after purchasing an additional 919,835 shares in the last quarter. Norges Bank purchased a new stake in shares of Crocs in the fourth quarter valued at about $72,211,000. Morgan Stanley lifted its holdings in shares of Crocs by 97.9% in the fourth quarter. Morgan Stanley now owns 1,300,768 shares of the textile maker’s stock valued at $141,042,000 after purchasing an additional 643,578 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its holdings in shares of Crocs by 278.9% in the first quarter. Two Sigma Advisers LP now owns 849,600 shares of the textile maker’s stock valued at $107,423,000 after purchasing an additional 625,400 shares in the last quarter. 93.44% of the stock is currently owned by institutional investors and hedge funds.

Crocs Company Profile

Crocs, Inc, together with its subsidiaries, designs, develops, manufactures, markets, distributes, and sells casual lifestyle footwear and accessories for men, women, and children under Crocs and HEYDUDE Brand in the United States and internationally. The company offers various footwear products, including clogs, sandals, slides, flips, wedges, platforms, socks, boots, charms, flip flops, sneakers, and slippers.