Crocs (NASDAQ:CROX) Now Covered by Wedbush

Equities research analysts at Wedbush initiated coverage on shares of Crocs (NASDAQ:CROXGet Rating) in a research report issued on Thursday, The Fly reports. The brokerage set an “outperform” rating on the textile maker’s stock.

CROX has been the topic of several other research reports. Piper Sandler increased their price target on Crocs from $215.00 to $246.00 and gave the stock an “overweight” rating in a report on Wednesday, January 12th. Loop Capital downgraded Crocs from a “buy” rating to a “hold” rating and decreased their price target for the company from $150.00 to $80.00 in a research report on Monday, April 4th. TheStreet lowered Crocs from a “b-” rating to a “c+” rating in a report on Friday, February 4th. Seaport Res Ptn reaffirmed a “neutral” rating on shares of Crocs in a research note on Tuesday, January 18th. Finally, Stifel Nicolaus decreased their price objective on Crocs from $130.00 to $101.00 in a report on Wednesday, February 16th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Crocs has a consensus rating of “Buy” and a consensus target price of $148.67.

Shares of Crocs stock traded up $1.24 during trading on Thursday, reaching $67.82. 1,548,967 shares of the company’s stock were exchanged, compared to its average volume of 1,824,383. The company has a debt-to-equity ratio of 54.78, a quick ratio of 1.17 and a current ratio of 1.72. Crocs has a 1-year low of $64.70 and a 1-year high of $183.88. The company has a market cap of $4.18 billion, a P/E ratio of 5.95, a PEG ratio of 0.49 and a beta of 1.85. The firm’s 50-day moving average price is $75.84 and its 200 day moving average price is $117.05.

Crocs (NASDAQ:CROXGet Rating) last posted its quarterly earnings results on Wednesday, February 16th. The textile maker reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.14. Crocs had a return on equity of 201.51% and a net margin of 31.37%. The company had revenue of $586.63 million during the quarter, compared to analysts’ expectations of $580.71 million. During the same quarter in the previous year, the firm earned $1.06 EPS. Crocs’s revenue was up 42.6% on a year-over-year basis. As a group, equities research analysts predict that Crocs will post 10.16 EPS for the current year.

In related news, Director Thomas J. Smach purchased 12,356 shares of the company’s stock in a transaction that occurred on Thursday, February 17th. The stock was bought at an average price of $86.35 per share, for a total transaction of $1,066,940.60. Following the completion of the transaction, the director now owns 195,636 shares in the company, valued at approximately $16,893,168.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Douglas J. Treff purchased 8,100 shares of the firm’s stock in a transaction dated Thursday, February 17th. The shares were bought at an average cost of $91.44 per share, with a total value of $740,664.00. Following the purchase, the director now directly owns 87,005 shares of the company’s stock, valued at approximately $7,955,737.20. The disclosure for this purchase can be found here. Insiders purchased a total of 37,698 shares of company stock worth $3,105,842 over the last ninety days. 2.42% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Lord Abbett & CO. LLC raised its position in shares of Crocs by 66.2% in the third quarter. Lord Abbett & CO. LLC now owns 1,738,706 shares of the textile maker’s stock worth $249,469,000 after acquiring an additional 692,633 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in Crocs during the 4th quarter worth $73,548,000. Norges Bank purchased a new position in Crocs during the 4th quarter worth $65,099,000. Wellington Management Group LLP grew its position in Crocs by 96.2% during the 3rd quarter. Wellington Management Group LLP now owns 891,814 shares of the textile maker’s stock worth $127,958,000 after purchasing an additional 437,259 shares during the last quarter. Finally, David J Yvars Group boosted its holdings in shares of Crocs by 491.8% in the fourth quarter. David J Yvars Group now owns 507,151 shares of the textile maker’s stock valued at $12,227,000 after acquiring an additional 421,459 shares in the last quarter. 94.00% of the stock is currently owned by hedge funds and other institutional investors.

About Crocs (Get Rating)

Crocs, Inc, together with its subsidiaries, designs, develops, manufactures, markets, and distributes casual lifestyle footwear and accessories for men, women, and children. It offers various footwear products, including clogs, sandals, slides, flip-flops, boots, flats, wedges, platforms, socks, shoe charms, loafers, sneakers, and slippers under the Crocs brand name.

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