Crocs (NASDAQ:CROX) Price Target Increased to $122.00 by Analysts at B. Riley

Crocs (NASDAQ:CROX) had its price objective boosted by B. Riley from $95.00 to $122.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the textile maker’s stock. B. Riley also issued estimates for Crocs’ Q1 2024 earnings at $2.33 EPS, Q2 2024 earnings at $3.79 EPS, FY2024 earnings at $12.43 EPS, Q2 2025 earnings at $3.92 EPS, Q3 2025 earnings at $3.72 EPS, Q4 2025 earnings at $2.90 EPS and FY2025 earnings at $13.04 EPS.

Several other analysts also recently commented 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. Piper Sandler raised their price objective on shares of Crocs from $135.00 to $140.00 and gave the stock an overweight rating in a research report on Friday, February 16th. Barclays initiated coverage on shares of Crocs in a research report on Monday, April 1st. They set an overweight rating and a $167.00 price objective for the company. 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. Finally, Stifel Nicolaus raised their price objective on shares of Crocs from $132.00 to $140.00 and gave the stock a buy rating in a research report on Friday, February 16th. Two 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. According to MarketBeat.com, Crocs currently has an average rating of Moderate Buy and a consensus price target of $149.30.

Crocs Stock Performance

NASDAQ:CROX opened at $125.54 on Wednesday. The company has a market capitalization of $7.60 billion, a PE ratio of 9.80, a P/E/G ratio of 1.63 and a beta of 2.01. The company has a 50 day simple moving average of $125.14 and a two-hundred day simple moving average of $105.00. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.75 and a current ratio of 1.30. Crocs has a fifty-two week low of $74.00 and a fifty-two week high of $151.32.

Crocs (NASDAQ:CROX) last released its earnings results on Thursday, February 15th. The textile maker reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates of $2.38 by $0.20. The business had revenue of $960.10 million during the quarter, compared to the consensus estimate of $958.39 million. Crocs had a net margin of 20.00% and a return on equity of 61.97%. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.65 EPS. Research analysts anticipate that Crocs will post 12.46 earnings per share for the current year.

Insider Activity at Crocs

In other Crocs news, President Michelle Poole sold 4,793 shares of the firm’s stock in a transaction on 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 directly owns 64,912 shares in the company, valued at approximately $7,734,264.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Crocs news, President Michelle Poole sold 4,793 shares of the firm’s stock in a transaction on 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 directly owns 64,912 shares in the company, valued at approximately $7,734,264.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ian Bickley sold 16,785 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $120.05, for a total value of $2,015,039.25. Following the transaction, the director now owns 31,815 shares in the company, valued at $3,819,390.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 39,867 shares of company stock valued at $4,786,276. 2.69% of the stock is owned by company insiders.

Institutional Investors Weigh In On Crocs

Hedge funds have recently made changes to their positions in the business. Rise Advisors LLC bought a new stake in shares of Crocs during the 1st quarter worth $25,000. Quarry LP raised its stake in shares of Crocs by 245.8% during the 2nd quarter. Quarry LP now owns 249 shares of the textile maker’s stock worth $28,000 after purchasing an additional 177 shares during the period. Harbour Investments Inc. raised its stake in shares of Crocs by 440.0% during the 1st quarter. Harbour Investments Inc. now owns 270 shares of the textile maker’s stock worth $34,000 after purchasing an additional 220 shares during the period. Byrne Asset Management LLC raised its stake in shares of Crocs by 60.0% during the 4th quarter. Byrne Asset Management LLC now owns 320 shares of the textile maker’s stock worth $30,000 after purchasing an additional 120 shares during the period. Finally, Blue Trust Inc. raised its stake in shares of Crocs by 185.0% during the 4th quarter. Blue Trust Inc. now owns 342 shares of the textile maker’s stock worth $32,000 after purchasing an additional 222 shares during the period. 93.44% of the stock is currently owned by institutional investors.

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.