Crocs (NASDAQ:CROX) Upgraded by BidaskClub to “Hold”

BidaskClub upgraded shares of Crocs (NASDAQ:CROX) from a sell rating to a hold rating in a report issued on Tuesday morning, BidAskClub reports.

A number of other equities research analysts have also commented on CROX. Zacks Investment Research upgraded Crocs from a hold rating to a strong-buy rating and set a $28.00 target price on the stock in a research report on Thursday, May 9th. TheStreet lowered Crocs from a b- rating to a c- rating in a research report on Wednesday, March 20th. ValuEngine lowered Crocs from a buy rating to a hold rating in a research report on Friday, May 10th. Piper Jaffray Companies lowered Crocs from an overweight rating to a neutral rating and set a $31.00 target price on the stock. in a research report on Tuesday, April 23rd. Finally, Monness Crespi & Hardt upgraded Crocs from a neutral rating to a buy rating and set a $32.00 target price on the stock in a research report on Thursday, February 28th. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Crocs has an average rating of Buy and an average target price of $30.96.

Shares of CROX stock opened at $19.76 on Tuesday. Crocs has a fifty-two week low of $16.26 and a fifty-two week high of $31.88. The stock has a market cap of $1.38 billion, a PE ratio of 22.98, a price-to-earnings-growth ratio of 1.04 and a beta of 0.97. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.32 and a current ratio of 1.95.

Crocs (NASDAQ:CROX) last issued its earnings results on Tuesday, May 7th. The textile maker reported $0.36 EPS for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.11. The firm had revenue of $295.95 million for the quarter, compared to analyst estimates of $288.72 million. Crocs had a return on equity of 35.81% and a net margin of 4.97%. Crocs’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.15 earnings per share. Sell-side analysts predict that Crocs will post 1.25 EPS for the current year.

Crocs declared that its Board of Directors has authorized a stock buyback program on Tuesday, May 7th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the textile maker to repurchase up to 25.8% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Hedge funds have recently made changes to their positions in the company. Signaturefd LLC acquired a new position in shares of Crocs during the 1st quarter worth approximately $29,000. FMR LLC raised its stake in shares of Crocs by 54.2% during the 1st quarter. FMR LLC now owns 2,846 shares of the textile maker’s stock worth $73,000 after buying an additional 1,000 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Crocs by 26.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,282 shares of the textile maker’s stock worth $85,000 after buying an additional 679 shares during the period. LS Investment Advisors LLC raised its stake in shares of Crocs by 121.9% during the 4th quarter. LS Investment Advisors LLC now owns 4,724 shares of the textile maker’s stock worth $123,000 after buying an additional 2,595 shares during the period. Finally, Bank of Montreal Can raised its stake in shares of Crocs by 152.0% during the 4th quarter. Bank of Montreal Can now owns 5,091 shares of the textile maker’s stock worth $133,000 after buying an additional 3,071 shares during the period. 97.21% of the stock is owned by institutional investors and hedge funds.

About Crocs

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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