Piper Jaffray Companies Reiterates “$22.00” Price Target for Crocs (NASDAQ:CROX)

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Piper Jaffray Companies set a $22.00 price target on Crocs (NASDAQ:CROX) in a research report released on Friday, Briefing.com Automated Import reports. The brokerage currently has a neutral rating on the textile maker’s stock.

Several other equities analysts have also issued reports on the stock. BidaskClub lowered shares of Crocs from a buy rating to a hold rating in a report on Thursday, May 9th. ValuEngine lowered shares of Crocs from a strong-buy rating to a buy rating in a report on Friday, March 1st. Monness Crespi & Hardt upgraded shares of Crocs from a neutral rating to a buy rating and set a $32.00 target price on the stock in a report on Thursday, February 28th. Zacks Investment Research lowered shares of Crocs from a strong-buy rating to a hold rating in a report on Monday, March 4th. Finally, TheStreet lowered shares of Crocs from a b- rating to a c- rating in a report on Wednesday, March 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $29.16.

Shares of Crocs stock opened at $17.85 on Friday. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 2.77. Crocs has a twelve month low of $16.26 and a twelve month high of $31.88. The company has a market capitalization of $1.35 billion, a PE ratio of 20.76, a price-to-earnings-growth ratio of 1.01 and a beta of 0.97. The business has a fifty day simple moving average of $22.24.

Crocs (NASDAQ:CROX) last issued its quarterly earnings data on Tuesday, May 7th. The textile maker reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.11. The company had revenue of $295.95 million for the quarter, compared to analysts’ expectations of $288.72 million. Crocs had a net margin of 4.97% and a return on equity of 35.81%. Crocs’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.15 earnings per share. As a group, equities research analysts anticipate that Crocs will post 1.25 EPS for the current year.

Crocs declared that its board has initiated a stock repurchase plan on Tuesday, May 7th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the textile maker to buy up to 25.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of Montreal Can grew its holdings in Crocs by 152.0% in the fourth quarter. Bank of Montreal Can now owns 5,091 shares of the textile maker’s stock valued at $133,000 after purchasing an additional 3,071 shares during the last quarter. Rhumbline Advisers grew its holdings in Crocs by 17.6% in the fourth quarter. Rhumbline Advisers now owns 189,792 shares of the textile maker’s stock valued at $4,931,000 after purchasing an additional 28,411 shares during the last quarter. LS Investment Advisors LLC grew its holdings in Crocs by 121.9% in the fourth quarter. LS Investment Advisors LLC now owns 4,724 shares of the textile maker’s stock valued at $123,000 after purchasing an additional 2,595 shares during the last quarter. Oregon Public Employees Retirement Fund acquired a new stake in Crocs in the fourth quarter valued at $25,000. Finally, WINTON GROUP Ltd grew its holdings in Crocs by 2,633.8% in the fourth quarter. WINTON GROUP Ltd now owns 456,027 shares of the textile maker’s stock valued at $11,848,000 after purchasing an additional 439,346 shares during the last quarter. Hedge funds and other institutional investors own 97.21% of the company’s stock.

About Crocs

Crocs, Inc, together with its subsidiaries, designs, develops, manufactures, markets, and distributes casual lifestyle footwear and accessories for men, women, and children worldwide. It offers various footwear products, including clogs, sandals, flips and slides, shoes, and boots under the Crocs brand name.

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