Crocs, Inc. (NASDAQ:CROX) shares reached a new 52-week high during trading on Thursday following a stronger than expected earnings report. The stock traded as high as $28.07 and last traded at $27.20, with a volume of 274068 shares traded. The stock had previously closed at $21.44.
The textile maker reported $0.07 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.09. The business had revenue of $261.10 million for the quarter, compared to the consensus estimate of $246.47 million. Crocs had a return on equity of 13.84% and a net margin of 2.29%. Crocs’s revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.03) EPS.
Several research analysts have issued reports on CROX shares. Piper Jaffray Companies set a $23.00 price objective on Crocs and gave the stock a “buy” rating in a report on Monday, October 22nd. TheStreet upgraded shares of Crocs from a “c+” rating to a “b” rating in a research report on Thursday, August 9th. Zacks Investment Research upgraded shares of Crocs from a “hold” rating to a “strong-buy” rating and set a $20.00 target price for the company in a research report on Wednesday, August 8th. BidaskClub cut shares of Crocs from a “buy” rating to a “hold” rating in a research report on Thursday, October 4th. Finally, Pivotal Research reiterated a “buy” rating and set a $21.00 target price on shares of Crocs in a research report on Tuesday, August 7th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $17.14.
Several institutional investors and hedge funds have recently added to or reduced their stakes in CROX. Hennessy Advisors Inc. boosted its stake in shares of Crocs by 480.9% during the 3rd quarter. Hennessy Advisors Inc. now owns 1,608,500 shares of the textile maker’s stock worth $34,245,000 after buying an additional 1,331,600 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Crocs by 87.7% during the 2nd quarter. Millennium Management LLC now owns 1,033,773 shares of the textile maker’s stock worth $18,205,000 after buying an additional 483,069 shares during the last quarter. Spark Investment Management LLC acquired a new position in shares of Crocs during the 2nd quarter worth about $7,605,000. Robeco Institutional Asset Management B.V. boosted its stake in shares of Crocs by 100.0% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 752,902 shares of the textile maker’s stock worth $14,643,000 after buying an additional 376,451 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in shares of Crocs by 3.7% during the 2nd quarter. BlackRock Inc. now owns 9,800,291 shares of the textile maker’s stock worth $172,582,000 after buying an additional 347,462 shares during the last quarter. Institutional investors and hedge funds own 97.24% of the company’s stock.
The company has a market capitalization of $1.45 billion, a P/E ratio of -1,358.00, a PEG ratio of 5.27 and a beta of 0.61.
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About Crocs (NASDAQ:CROX)
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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