Crocs, Inc. (NASDAQ:CROX) Receives $139.79 Average Target Price from Brokerages

Shares of Crocs, Inc. (NASDAQ:CROX) have been given a consensus recommendation of “Moderate Buy” by the fourteen research firms that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $139.79.

Several brokerages have commented on CROX. Piper Sandler cut their target price on Crocs from $125.00 to $115.00 and set an “overweight” rating on the stock in a research note on Friday, April 11th. Robert W. Baird lowered their price target on Crocs from $180.00 to $150.00 and set an “outperform” rating on the stock in a report on Monday, February 10th. KeyCorp lowered their price target on Crocs from $150.00 to $120.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Barclays lowered their price target on Crocs from $122.00 to $119.00 and set an “overweight” rating on the stock in a report on Friday, May 9th. Finally, UBS Group increased their price target on Crocs from $122.00 to $132.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th.

Crocs Stock Performance

Crocs stock opened at $118.26 on Friday. The company has a quick ratio of 0.70, a current ratio of 1.18 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $6.63 billion, a P/E ratio of 7.40, a PEG ratio of 1.80 and a beta of 1.46. The stock’s 50 day moving average is $100.89 and its 200 day moving average is $103.93. Crocs has a twelve month low of $86.11 and a twelve month high of $165.32.

Crocs (NASDAQ:CROX) last issued its earnings results on Thursday, May 8th. The textile maker reported $3.00 EPS for the quarter, beating the consensus estimate of $2.51 by $0.49. Crocs had a return on equity of 46.27% and a net margin of 23.16%. The business had revenue of $937.33 million for the quarter, compared to the consensus estimate of $907.07 million. During the same period last year, the business posted $3.02 EPS. The company’s revenue was down .1% compared to the same quarter last year. On average, equities research analysts predict that Crocs will post 13.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Adam Michaels sold 15,000 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $106.69, for a total value of $1,600,350.00. Following the transaction, the executive vice president now directly owns 89,323 shares of the company’s stock, valued at approximately $9,529,870.87. This trade represents a 14.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ian Bickley sold 3,044 shares of the firm’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $115.89, for a total value of $352,769.16. Following the completion of the transaction, the director now directly owns 27,505 shares in the company, valued at approximately $3,187,554.45. This represents a 9.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,703 shares of company stock valued at $2,464,444. 2.72% of the stock is owned by company insiders.

Institutional Investors Weigh In On Crocs

A number of institutional investors and hedge funds have recently bought and sold shares of the business. CreativeOne Wealth LLC raised its holdings in Crocs by 24.7% during the first quarter. CreativeOne Wealth LLC now owns 3,539 shares of the textile maker’s stock valued at $376,000 after acquiring an additional 701 shares during the period. WS Management Lllp bought a new stake in Crocs during the first quarter valued at about $5,310,000. Northwestern Mutual Wealth Management Co. raised its holdings in Crocs by 10.2% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 9,908 shares of the textile maker’s stock valued at $1,052,000 after acquiring an additional 914 shares during the period. Kestra Advisory Services LLC raised its holdings in Crocs by 4.6% during the first quarter. Kestra Advisory Services LLC now owns 8,372 shares of the textile maker’s stock valued at $889,000 after acquiring an additional 368 shares during the period. Finally, T. Rowe Price Investment Management Inc. raised its holdings in Crocs by 43.2% during the first quarter. T. Rowe Price Investment Management Inc. now owns 702,399 shares of the textile maker’s stock valued at $74,595,000 after acquiring an additional 211,855 shares during the period. 93.44% of the stock is owned by institutional investors.

About Crocs

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.