Crocs (NASDAQ:CROX) Upgraded to “Positive” at OTR Global

OTR Global upgraded shares of Crocs (NASDAQ:CROX) from a mixed rating to a positive rating in a research report report published on Thursday morning, Benzinga reports.

Other research analysts have also issued research reports about the company. Raymond James increased their price objective on Crocs from $120.00 to $145.00 and gave the company a strong-buy rating in a report on Friday, February 16th. B. Riley increased their price objective on Crocs from $95.00 to $122.00 and gave the company a neutral rating in a report on Wednesday. Stifel Nicolaus increased their target price on Crocs from $132.00 to $140.00 and gave the company a buy rating in a research note on Friday, February 16th. Bank of America increased their target price on Crocs from $140.00 to $150.00 and gave the company a buy rating in a research note on Wednesday, March 20th. Finally, KeyCorp increased their target price on Crocs from $130.00 to $149.00 and gave the company an overweight rating in a research note on Thursday, March 21st. 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. According to MarketBeat.com, Crocs currently has a consensus rating of Moderate Buy and a consensus price target of $149.30.

Crocs Stock Performance

Shares of NASDAQ CROX opened at $125.54 on Thursday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.75 and a current ratio of 1.30. The firm has a market cap of $7.60 billion, a price-to-earnings ratio of 9.80, a P/E/G ratio of 1.63 and a beta of 2.01. The business’s 50-day simple moving average is $125.14 and its 200-day simple moving average is $105.00. Crocs has a 52 week low of $74.00 and a 52 week high of $151.32.

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

Insider Buying and Selling

In related news, Director John B. Replogle bought 1,972 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average price of $126.75 per share, for a total transaction of $249,951.00. Following the transaction, the director now directly owns 3,153 shares of the company’s stock, valued at $399,642.75. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director John B. Replogle bought 1,972 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average price of $126.75 per share, for a total transaction of $249,951.00. Following the transaction, the director now directly owns 3,153 shares of the company’s stock, valued at $399,642.75. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Michelle Poole sold 4,793 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $119.15, for a total value of $571,085.95. Following the transaction, the president now owns 64,912 shares of the company’s stock, valued at approximately $7,734,264.80. The disclosure for this sale can be found here. Insiders sold 39,867 shares of company stock worth $4,786,276 in the last 90 days. 2.69% of the stock is owned by company insiders.

Institutional Investors Weigh In On Crocs

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. increased its holdings in Crocs by 3.9% during the 1st quarter. BlackRock Inc. now owns 6,646,713 shares of the textile maker’s stock valued at $507,811,000 after purchasing an additional 247,828 shares in the last quarter. Vanguard Group Inc. increased its holdings in Crocs by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 5,836,304 shares of the textile maker’s stock valued at $445,893,000 after purchasing an additional 226,669 shares in the last quarter. WIT Partners Advisory Pte. Ltd. acquired a new stake in Crocs during the 4th quarter valued at $266,431,000. State Street Corp increased its stake in shares of Crocs by 1.8% in the 1st quarter. State Street Corp now owns 2,010,638 shares of the textile maker’s stock valued at $254,225,000 after buying an additional 36,361 shares during the period. Finally, Morgan Stanley increased its stake in shares of Crocs by 14.9% in the 3rd quarter. Morgan Stanley now owns 1,557,666 shares of the textile maker’s stock valued at $137,433,000 after buying an additional 202,392 shares during the period. 93.44% of the stock is 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.