Crocs (NASDAQ:CROX) Upgraded to Buy by Loop Capital

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Loop Capital upgraded shares of Crocs (NASDAQ:CROX) from a hold rating to a buy rating in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has $40.00 price target on the textile maker’s stock, up from their prior price target of $22.00.

Several other research analysts have also weighed in on CROX. BidaskClub upgraded shares of Crocs from a hold rating to a buy rating in a research report on Friday, June 19th. Stifel Nicolaus reiterated a hold rating on shares of Crocs in a research report on Tuesday, April 14th. Robert W. Baird increased their price target on shares of Crocs from $26.00 to $36.00 and gave the company an outperform rating in a research report on Thursday, June 4th. Susquehanna Bancshares reiterated a buy rating and issued a $43.00 price target on shares of Crocs in a research report on Sunday, June 7th. Finally, Pivotal Research lowered their price target on shares of Crocs from $43.00 to $29.00 and set a buy rating on the stock in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $36.36.

Shares of CROX opened at $36.82 on Tuesday. The company has a current ratio of 2.18, a quick ratio of 1.35 and a debt-to-equity ratio of 5.34. The firm’s 50-day moving average is $29.71 and its two-hundred day moving average is $30.31. Crocs has a twelve month low of $8.40 and a twelve month high of $43.79. The firm has a market capitalization of $2.36 billion, a P/E ratio of 24.38, a PEG ratio of 2.74 and a beta of 1.85.

Crocs (NASDAQ:CROX) last issued its earnings results on Thursday, April 23rd. The textile maker reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.14). Crocs had a return on equity of 90.72% and a net margin of 8.71%. The company had revenue of $281.16 million for the quarter, compared to analyst estimates of $295.27 million. During the same quarter in the previous year, the company posted $0.36 earnings per share. The company’s quarterly revenue was down 5.0% compared to the same quarter last year. Analysts predict that Crocs will post 0.85 EPS for the current year.

In other Crocs news, EVP Michelle Poole sold 30,000 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $29.33, for a total transaction of $879,900.00. Following the transaction, the executive vice president now owns 135,330 shares of the company’s stock, valued at $3,969,228.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Thomas J. Smach sold 40,000 shares of the stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $23.57, for a total transaction of $942,800.00. Following the transaction, the director now directly owns 204,576 shares in the company, valued at approximately $4,821,856.32. The disclosure for this sale can be found here. Corporate insiders own 2.32% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. State Street Corp raised its stake in Crocs by 7.9% during the first quarter. State Street Corp now owns 2,072,308 shares of the textile maker’s stock worth $35,209,000 after purchasing an additional 151,035 shares during the period. Royal Bank of Canada raised its stake in Crocs by 152.7% during the first quarter. Royal Bank of Canada now owns 34,233 shares of the textile maker’s stock worth $582,000 after purchasing an additional 20,686 shares during the period. Clearbridge Investments LLC raised its stake in Crocs by 36.2% during the first quarter. Clearbridge Investments LLC now owns 375,840 shares of the textile maker’s stock worth $6,386,000 after purchasing an additional 99,910 shares during the period. Melvin Capital Management LP raised its stake in shares of Crocs by 32.0% in the 1st quarter. Melvin Capital Management LP now owns 1,650,000 shares of the textile maker’s stock valued at $28,034,000 after acquiring an additional 400,445 shares during the period. Finally, Voloridge Investment Management LLC purchased a new position in shares of Crocs in the 1st quarter valued at $757,000. 92.29% of the stock is currently owned by institutional investors.

Crocs Company Profile

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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Analyst Recommendations for Crocs (NASDAQ:CROX)

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