Crocs (NASDAQ:CROX) Price Target Raised to $124.00

Crocs (NASDAQ:CROX) had its price objective boosted by UBS Group from $117.00 to $124.00 in a research note published on Tuesday, Benzinga reports. They currently have a neutral rating on the textile maker’s stock.

A number of other brokerages have also recently weighed in on CROX. Barclays assumed coverage on Crocs in a research report on Monday, April 1st. They issued an overweight rating and a $167.00 price target on the stock. Raymond James increased their target price on Crocs from $120.00 to $145.00 and gave the stock a strong-buy rating in a report on Friday, February 16th. OTR Global upgraded Crocs from a mixed rating to a positive rating in a report on Thursday, April 11th. Stifel Nicolaus increased their target price on Crocs from $132.00 to $140.00 and gave the stock a buy rating in a report on Friday, February 16th. Finally, Piper Sandler increased their target price on Crocs from $135.00 to $140.00 and gave the stock an overweight rating in a report on Friday, February 16th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $145.17.

Crocs Stock Performance

Shares of NASDAQ:CROX opened at $125.40 on Tuesday. The business’s fifty day moving average price is $128.31 and its two-hundred day moving average price is $107.46. Crocs has a fifty-two week low of $74.00 and a fifty-two week high of $146.79. The stock has a market capitalization of $7.61 billion, a price-to-earnings ratio of 9.79, a price-to-earnings-growth ratio of 1.59 and a beta of 2.01. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.30 and a quick ratio of 0.75.

Crocs (NASDAQ:CROX) last announced its quarterly earnings results on Thursday, February 15th. The textile maker reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates of $2.38 by $0.20. Crocs had a return on equity of 61.97% and a net margin of 20.00%. The firm had revenue of $960.10 million for the quarter, compared to analysts’ expectations of $958.39 million. During the same period in the prior year, the business posted $2.65 earnings per share. The business’s revenue was up 1.6% compared to the same quarter last year. As a group, analysts predict that Crocs will post 12.44 EPS for the current fiscal year.

Insider Activity

In other news, Director Ian Bickley sold 16,785 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $120.05, for a total transaction of $2,015,039.25. Following the transaction, the director now owns 31,815 shares of the company’s stock, valued at $3,819,390.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Crocs news, Director Ian Bickley sold 16,785 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $120.05, for a total value of $2,015,039.25. Following the transaction, the director now owns 31,815 shares of the company’s stock, valued at $3,819,390.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Daniel P. Hart sold 10,000 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $118.48, for a total value of $1,184,800.00. Following the completion of the transaction, the executive vice president now directly owns 219,293 shares in the company, valued at approximately $25,981,834.64. The disclosure for this sale can be found here. Insiders have sold 39,867 shares of company stock valued at $4,786,276 over the last 90 days. 2.69% of the stock is owned by company insiders.

Hedge Funds Weigh In On Crocs

Several hedge funds have recently added to or reduced their stakes in the stock. Vontobel Holding Ltd. raised its position in shares of Crocs by 19.6% during the third quarter. Vontobel Holding Ltd. now owns 8,649 shares of the textile maker’s stock worth $763,000 after purchasing an additional 1,420 shares during the period. CWM LLC raised its position in shares of Crocs by 116.9% during the third quarter. CWM LLC now owns 1,063 shares of the textile maker’s stock worth $94,000 after purchasing an additional 573 shares during the period. SG Americas Securities LLC raised its position in shares of Crocs by 824.6% during the third quarter. SG Americas Securities LLC now owns 10,707 shares of the textile maker’s stock worth $945,000 after purchasing an additional 9,549 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its position in shares of Crocs by 66.6% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 10,062 shares of the textile maker’s stock worth $888,000 after purchasing an additional 4,023 shares during the period. Finally, Voss Capital LLC raised its position in shares of Crocs by 610.0% during the third quarter. Voss Capital LLC now owns 710,000 shares of the textile maker’s stock worth $62,643,000 after purchasing an additional 610,000 shares during the period. Institutional investors and hedge funds own 93.44% of the company’s stock.

About Crocs

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.