Crocs (NASDAQ:CROX) Sets New 52-Week High – Here’s What Happened

Crocs, Inc. (NASDAQ:CROX)’s stock price hit a new 52-week high during mid-day trading on Wednesday. The stock traded as high as $157.00 and last traded at $156.8350, with a volume of 7,329 shares traded. The stock had previously closed at $153.61.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Crocs from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, October 26th. Piper Sandler reaffirmed an “overweight” rating on shares of Crocs in a research report on Friday. Wall Street Zen upgraded shares of Crocs from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Bank of America lifted their price target on Crocs from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. Finally, Robert W. Baird set a $163.00 target price on shares of Crocs in a research report on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Crocs presently has an average rating of “Moderate Buy” and a consensus target price of $158.30.

Crocs Stock Up 4.1%

The company has a market cap of $7.31 billion, a PE ratio of 11.89, a P/E/G ratio of 1.22 and a beta of 1.49. The company has a quick ratio of 0.86, a current ratio of 1.44 and a debt-to-equity ratio of 0.96. The stock has a 50-day moving average of $121.58 and a 200-day moving average of $110.42.

Crocs (NASDAQ:CROX) last issued its quarterly earnings data on Thursday, October 29th. The textile maker reported $3.69 EPS for the quarter, topping the consensus estimate of $3.31 by $0.38. Crocs had a return on equity of 49.35% and a net margin of 16.20%. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1 billion. During the same quarter in the previous year, the firm earned $2.92 earnings per share. Crocs’s revenue was up 4.7% on a year-over-year basis. Sell-side analysts predict that Crocs, Inc. will post 14.62 earnings per share for the current fiscal year.

Insider Transactions at Crocs

In other news, Director Ronald Frasch sold 15,000 shares of the stock in a transaction dated Friday, October 30th. The stock was sold at an average price of $153.51, for a total transaction of $2,302,650.00. Following the transaction, the director directly owned 61,180 shares in the company, valued at approximately $9,391,741.80. This represents a 19.69% 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 Beth Kaplan bought 885 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The stock was acquired at an average price of $112.12 per share, for a total transaction of $99,226.20. Following the transaction, the director owned 15,259 shares in the company, valued at $1,710,839.08. This trade represents a 6.16% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold a total of 47,645 shares of company stock valued at $6,856,434 over the last 90 days. Company insiders own 3.10% of the company’s stock.

Institutional Trading of Crocs

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Baird Financial Group Inc. grew its holdings in shares of Crocs by 450.1% during the second quarter. Baird Financial Group Inc. now owns 166,345 shares of the textile maker’s stock valued at $20,068,000 after buying an additional 136,106 shares during the last quarter. Bank of America Corp DE bought a new stake in shares of Crocs during the 2nd quarter valued at about $33,820,000. Legal & General Group Plc bought a new position in Crocs in the second quarter worth approximately $8,129,000. Corient Private Wealth LP lifted its position in Crocs by 107.3% during the second quarter. Corient Private Wealth LP now owns 23,832 shares of the textile maker’s stock valued at $2,875,000 after purchasing an additional 12,335 shares in the last quarter. Finally, WINTON GROUP Ltd bought a new position in shares of Crocs during the 2nd quarter valued at approximately $1,556,000. Hedge funds and other institutional investors own 93.44% of the company’s stock.

Crocs Company Profile

Crocs, Inc is a global footwear company best known for its Crocs brand of casual, lightweight shoes. Its product portfolio includes clogs, sandals, slides, boots and other casual footwear, along with accessories such as Jibbitz charms, which are designed to personalize Crocs shoes.

The company was founded in 2002 and introduced its first clog that year. Crocs has expanded from its original molded footwear into a broader lifestyle brand, offering products for women, men and children through company-operated and third-party retail stores, e-commerce platforms and wholesale partners.

In 2022, Crocs completed its acquisition of HEYDUDE, adding the casual shoe brand to its portfolio.