Brokerages Set Crocs, Inc. (NASDAQ:CROX) Price Target at $30.36

Shares of Crocs, Inc. (NASDAQ:CROX) have received an average recommendation of “Buy” from the eleven ratings firms that are covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $30.36.

CROX has been the topic of a number of recent analyst reports. Piper Jaffray Companies set a $173.00 price target on shares of DexCom and gave the stock a “buy” rating in a research note on Monday, July 15th. Zacks Investment Research cut shares of H&E Equipment Services from a “hold” rating to a “sell” rating in a research note on Wednesday. BidaskClub cut shares of Ames National from a “hold” rating to a “sell” rating in a research note on Wednesday. ValuEngine cut shares of Yext from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 10th. Finally, CL King raised shares of Crocs from a “neutral” rating to a “buy” rating in a research note on Thursday, June 27th.

CROX traded up $0.78 during trading on Tuesday, hitting $23.13. The stock had a trading volume of 1,863,270 shares, compared to its average volume of 1,627,248. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 2.77. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of 26.90, a P/E/G ratio of 1.24 and a beta of 0.92. The business has a 50-day moving average of $19.87. Crocs has a twelve month low of $16.26 and a twelve month high of $31.88.

Crocs (NASDAQ:CROX) last announced its quarterly earnings data on Tuesday, May 7th. The textile maker reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.11. The company had revenue of $295.95 million for the quarter, compared to analysts’ expectations of $288.72 million. Crocs had a net margin of 4.97% and a return on equity of 35.81%. Crocs’s revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.15 EPS. As a group, analysts predict that Crocs will post 1.25 earnings per share for the current year.

Crocs announced that its Board of Directors has approved a share buyback plan on Tuesday, May 7th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the textile maker to repurchase up to 25.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its shares are undervalued.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new position in Crocs in the 4th quarter valued at about $40,259,000. Marshall Wace LLP lifted its holdings in Crocs by 95.0% in the 1st quarter. Marshall Wace LLP now owns 1,739,464 shares of the textile maker’s stock valued at $44,790,000 after purchasing an additional 847,515 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in Crocs by 1,273.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 856,427 shares of the textile maker’s stock valued at $22,053,000 after purchasing an additional 794,049 shares in the last quarter. Apertura Capital LLC purchased a new position in Crocs in the 1st quarter valued at about $12,875,000. Finally, Two Sigma Investments LP lifted its holdings in Crocs by 50.3% in the 4th quarter. Two Sigma Investments LP now owns 1,016,800 shares of the textile maker’s stock valued at $26,416,000 after purchasing an additional 340,082 shares in the last quarter. 97.21% of the stock is currently owned by hedge funds and other institutional investors.

Crocs Company Profile

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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