Bank of America Increases Crocs (NASDAQ:CROX) Price Target to $187.00

Crocs (NASDAQ:CROXFree Report) had its price objective raised by Bank of America from $160.00 to $187.00 in a research report report published on Thursday, Benzinga reports. The firm currently has a buy rating on the textile maker’s stock.

Several other research firms have also issued reports on CROX. OTR Global raised shares of Crocs from a mixed rating to a positive rating in a research report on Thursday, April 11th. Williams Trading reissued a hold rating and issued a $125.00 price objective (down from $135.00) on shares of Crocs in a research report on Tuesday, April 16th. B. Riley increased their price objective on shares of Crocs from $95.00 to $122.00 and gave the company a neutral rating in a research report on Wednesday, April 10th. Stifel Nicolaus increased their price objective on shares of Crocs from $140.00 to $158.00 and gave the company a buy rating in a research report on Wednesday, May 8th. Finally, UBS Group increased their price objective on shares of Crocs from $124.00 to $148.00 and gave the company a neutral rating in a research report on Wednesday, May 8th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Crocs currently has an average rating of Moderate Buy and an average target price of $154.83.

View Our Latest Analysis on Crocs

Crocs Stock Performance

NASDAQ CROX opened at $154.74 on Thursday. The company has a current ratio of 1.76, a quick ratio of 1.14 and a debt-to-equity ratio of 1.08. The firm’s fifty day moving average price is $141.21 and its two-hundred day moving average price is $123.50. Crocs has a 1 year low of $74.00 and a 1 year high of $165.32. The firm has a market capitalization of $9.39 billion, a P/E ratio of 11.98, a price-to-earnings-growth ratio of 1.79 and a beta of 1.97.

Crocs (NASDAQ:CROXGet Free Report) last posted its quarterly earnings results on Tuesday, May 7th. The textile maker reported $3.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.25 by $0.77. Crocs had a net margin of 19.80% and a return on equity of 56.33%. The firm had revenue of $938.60 million for the quarter, compared to analyst estimates of $884.29 million. During the same period in the prior year, the firm posted $2.61 earnings per share. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. As a group, research analysts anticipate that Crocs will post 12.66 EPS for the current year.

Insiders Place Their Bets

In other Crocs news, EVP Shannon Sisler sold 1,404 shares of the stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $149.96, for a total transaction of $210,543.84. Following the sale, the executive vice president now directly owns 37,103 shares in the company, valued at $5,563,965.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Shannon Sisler sold 1,404 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $149.96, for a total value of $210,543.84. Following the sale, the executive vice president now directly owns 37,103 shares in the company, valued at approximately $5,563,965.88. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Anne Mehlman sold 7,150 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $159.01, for a total transaction of $1,136,921.50. Following the completion of the sale, the executive vice president now owns 143,075 shares in the company, valued at $22,750,355.75. The disclosure for this sale can be found here. Insiders have sold 30,178 shares of company stock worth $4,597,445 over the last ninety days. Corporate insiders own 2.72% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CROX. Raymond James & Associates raised its holdings in Crocs by 235.8% during the 4th quarter. Raymond James & Associates now owns 58,514 shares of the textile maker’s stock worth $5,466,000 after purchasing an additional 41,091 shares during the last quarter. Alaska Permanent Fund Corp raised its holdings in Crocs by 282.2% during the 1st quarter. Alaska Permanent Fund Corp now owns 15,478 shares of the textile maker’s stock worth $2,226,000 after purchasing an additional 11,428 shares during the last quarter. Tyro Capital Management LLC bought a new position in Crocs during the 4th quarter worth approximately $10,481,000. Tealwood Asset Management Inc. bought a new position in Crocs during the 4th quarter worth approximately $865,000. Finally, Teachers Retirement System of The State of Kentucky raised its holdings in Crocs by 27.4% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 38,609 shares of the textile maker’s stock worth $3,407,000 after purchasing an additional 8,297 shares during the last quarter. Institutional investors own 93.44% of the company’s stock.

Crocs Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Crocs (NASDAQ:CROX)

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