Crocs, Inc. (NASDAQ:CROX)’s share price hit a new 52-week high on Monday . The company traded as high as $15.87 and last traded at $15.87, with a volume of 434339 shares traded. The stock had previously closed at $15.41.
A number of equities analysts have weighed in on the stock. Pivotal Research reiterated a “hold” rating and set a $13.00 target price (up previously from $10.00) on shares of Crocs in a research report on Wednesday, January 10th. Stifel Nicolaus upgraded shares of Crocs from a “hold” rating to a “buy” rating in a research report on Friday, December 15th. Zacks Investment Research lowered shares of Crocs from a “hold” rating to a “sell” rating in a research report on Monday, March 12th. BidaskClub lowered shares of Crocs from a “buy” rating to a “hold” rating in a research report on Friday, January 26th. Finally, Piper Jaffray raised shares of Crocs from a “neutral” rating to an “overweight” rating and set a $15.00 price target on the stock in a report on Thursday, March 1st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $11.00.
The stock has a market capitalization of $1,060.68, a price-to-earnings ratio of -97.94, a PEG ratio of 3.29 and a beta of 0.55.
Crocs announced that its Board of Directors has initiated a share repurchase program on Wednesday, February 28th that permits the company to repurchase $431.00 million in outstanding shares. This repurchase authorization permits the textile maker to purchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
Several institutional investors have recently made changes to their positions in CROX. Millennium Management LLC raised its stake in Crocs by 132.6% in the fourth quarter. Millennium Management LLC now owns 1,947,358 shares of the textile maker’s stock valued at $24,615,000 after purchasing an additional 1,110,317 shares in the last quarter. Fuller & Thaler Asset Management Inc. purchased a new stake in Crocs in the fourth quarter valued at approximately $7,473,000. WINTON GROUP Ltd raised its stake in Crocs by 172.3% in the fourth quarter. WINTON GROUP Ltd now owns 828,828 shares of the textile maker’s stock valued at $10,476,000 after purchasing an additional 524,397 shares in the last quarter. Renaissance Technologies LLC raised its stake in Crocs by 15.2% in the fourth quarter. Renaissance Technologies LLC now owns 3,386,564 shares of the textile maker’s stock valued at $42,806,000 after purchasing an additional 447,624 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in Crocs in the fourth quarter valued at approximately $5,575,000. 99.81% of the stock is currently owned by hedge funds and other institutional investors.
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Crocs, Inc is engaged in the design, development, manufacturing, marketing, distribution and sale of casual lifestyle footwear and accessories for men, women, and children. The Company’s segments include Americas, Asia Pacific and Europe. Its products include footwear and accessories that utilize its closed-cell resin, called Croslite, as well as casual lifestyle footwear that use a range of materials.
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