Crocs, Inc. (NASDAQ:CROX) has received an average recommendation of “Hold” from the eleven analysts that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, four have given a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $10.60.
Several research analysts recently commented on the stock. Pivotal Research restated a “hold” rating and issued a $13.00 price target (up previously from $10.00) on shares of Crocs in a report on Wednesday, January 10th. Stifel Nicolaus upgraded shares of Crocs from a “hold” rating to a “buy” rating in a report on Friday, December 15th. Zacks Investment Research downgraded shares of Crocs from a “hold” rating to a “sell” rating in a research report on Monday, March 12th. BidaskClub downgraded 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 objective for the company in a research report on Thursday, March 1st.
A number of large investors have recently modified their holdings of CROX. Nationwide Fund Advisors grew its position in Crocs by 27.6% in the third quarter. Nationwide Fund Advisors now owns 64,520 shares of the textile maker’s stock valued at $626,000 after acquiring an additional 13,972 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new stake in Crocs in the third quarter valued at approximately $205,000. American Century Companies Inc. acquired a new stake in Crocs in the third quarter valued at approximately $1,182,000. BNP Paribas Arbitrage SA grew its position in Crocs by 36.7% in the third quarter. BNP Paribas Arbitrage SA now owns 44,863 shares of the textile maker’s stock valued at $435,000 after acquiring an additional 12,037 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan grew its position in shares of Crocs by 58.8% during the third quarter. Municipal Employees Retirement System of Michigan now owns 27,800 shares of the textile maker’s stock worth $270,000 after buying an additional 10,290 shares in the last quarter. 99.81% of the stock is owned by institutional investors.
Crocs (NASDAQ:CROX) last posted its quarterly earnings results on Wednesday, February 28th. The textile maker reported ($0.41) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.37) by ($0.04). Crocs had a net margin of 1.00% and a return on equity of 6.19%. The business had revenue of $199.11 million during the quarter, compared to analysts’ expectations of $196.70 million. During the same quarter in the previous year, the business posted ($0.58) EPS. The company’s quarterly revenue was up 6.2% on a year-over-year basis. equities analysts expect that Crocs will post 0.31 EPS for the current fiscal year.
Crocs announced that its Board of Directors has initiated a stock buyback plan on Wednesday, February 28th that permits the company to repurchase $431.00 million in shares. This repurchase authorization permits the textile maker to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
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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