Monness Crespi & Hardt Boosts Crocs (NASDAQ:CROX) Price Target to $50.00

Crocs (NASDAQ:CROX) had its target price upped by equities research analysts at Monness Crespi & Hardt from $44.00 to $50.00 in a research note issued to investors on Wednesday, The Fly reports. The brokerage currently has a “buy” rating on the textile maker’s stock. Monness Crespi & Hardt’s price target suggests a potential upside of 16.96% from the company’s current price.

Several other brokerages have also recently issued reports on CROX. CL King reaffirmed a “buy” rating and set a $43.00 price objective on shares of Crocs in a report on Friday, December 27th. Susquehanna Bancshares raised Crocs from a “neutral” rating to a “positive” rating in a research report on Thursday, January 2nd. Pivotal Research restated a “buy” rating and set a $49.00 price objective on shares of Crocs in a research note on Thursday, January 9th. Piper Jaffray Companies reiterated a “buy” rating and issued a $44.00 price target on shares of Crocs in a research note on Tuesday, December 24th. Finally, Zacks Investment Research lowered shares of Crocs from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 31st. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Crocs currently has an average rating of “Buy” and an average target price of $38.50.

CROX stock traded down $0.15 during midday trading on Wednesday, hitting $42.75. 274,132 shares of the stock were exchanged, compared to its average volume of 1,171,078. The stock’s 50-day moving average price is $38.93 and its 200-day moving average price is $30.26. The stock has a market cap of $2.94 billion, a price-to-earnings ratio of 49.71, a PEG ratio of 1.36 and a beta of 1.01. Crocs has a fifty-two week low of $17.52 and a fifty-two week high of $43.58. The company has a debt-to-equity ratio of 2.80, a quick ratio of 1.08 and a current ratio of 1.68.

Crocs (NASDAQ:CROX) last issued its quarterly earnings data on Wednesday, October 30th. The textile maker reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.16. The firm had revenue of $312.80 million during the quarter, compared to analysts’ expectations of $302.06 million. Crocs had a return on equity of 78.24% and a net margin of 7.49%. Crocs’s revenue was up 19.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.07 earnings per share. Research analysts anticipate that Crocs will post 1.62 EPS for the current year.

In related news, major shareholder Holdings L.P. Blackstone III sold 6,864,545 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $35.42, for a total value of $243,142,183.90. 2.42% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Alpha Windward LLC bought a new stake in Crocs in the 4th quarter valued at about $548,000. OmniStar Financial Group Inc. bought a new stake in Crocs in the 4th quarter valued at about $329,000. State of Alaska Department of Revenue boosted its holdings in Crocs by 7.6% in the 4th quarter. State of Alaska Department of Revenue now owns 51,805 shares of the textile maker’s stock valued at $2,170,000 after purchasing an additional 3,671 shares during the period. Maverick Capital Ltd. bought a new stake in Crocs in the 3rd quarter valued at about $11,171,000. Finally, Millennium Management LLC boosted its holdings in Crocs by 1,824.4% in the 3rd quarter. Millennium Management LLC now owns 320,446 shares of the textile maker’s stock valued at $8,895,000 after purchasing an additional 303,794 shares during the period.

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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