Crocs (NASDAQ:CROX) Given New $50.00 Price Target at Stifel Nicolaus

Crocs (NASDAQ:CROX) had its price objective increased by Stifel Nicolaus from $42.00 to $50.00 in a research note issued to investors on Wednesday, The Fly reports. The firm currently has a hold rating on the textile maker’s stock. The analysts noted that the move was a valuation call.

Other analysts have also recently issued reports about the company. TheStreet upgraded Crocs from a c rating to a b- rating in a research report on Friday, July 31st. BidaskClub upgraded Crocs from a hold rating to a buy rating in a research report on Friday, September 11th. Monness Crespi & Hardt increased their target price on Crocs from $40.00 to $45.00 and gave the stock a buy rating in a report on Friday, July 31st. UBS Group increased their target price on Crocs from $48.00 to $57.00 and gave the stock a neutral rating in a report on Wednesday. Finally, Robert W. Baird increased their target price on Crocs from $46.00 to $50.00 and gave the stock an outperform rating in a report on Monday, September 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Crocs presently has an average rating of Buy and a consensus target price of $55.75.

Shares of NASDAQ:CROX opened at $53.93 on Wednesday. The business’s fifty day moving average price is $46.08 and its two-hundred day moving average price is $35.41. Crocs has a fifty-two week low of $8.40 and a fifty-two week high of $55.40. The stock has a market capitalization of $3.64 billion, a price-to-earnings ratio of 30.13 and a beta of 1.74. The company has a debt-to-equity ratio of 1.75, a current ratio of 2.12 and a quick ratio of 1.49.

Crocs (NASDAQ:CROX) last announced its quarterly earnings results on Saturday, October 31st. The textile maker reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.24. Crocs had a return on equity of 106.21% and a net margin of 10.37%. The firm had revenue of $361.70 million for the quarter, compared to analysts’ expectations of $343.98 million. During the same period in the prior year, the business posted $0.57 earnings per share. The business’s revenue was up 15.6% compared to the same quarter last year. Research analysts expect that Crocs will post 2.08 EPS for the current fiscal year.

In other news, Director Thomas J. Smach sold 10,000 shares of the company’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $38.00, for a total transaction of $380,000.00. Following the transaction, the director now owns 177,336 shares of the company’s stock, valued at $6,738,768. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.32% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Nisa Investment Advisors LLC lifted its stake in Crocs by 660.0% in the second quarter. Nisa Investment Advisors LLC now owns 760 shares of the textile maker’s stock valued at $28,000 after buying an additional 660 shares during the period. Glenmede Trust Co. NA lifted its stake in Crocs by 50.9% in the second quarter. Glenmede Trust Co. NA now owns 996 shares of the textile maker’s stock valued at $36,000 after buying an additional 336 shares during the period. Cerebellum GP LLC acquired a new position in Crocs in the third quarter valued at about $64,000. Valeo Financial Advisors LLC acquired a new position in Crocs in the second quarter valued at about $73,000. Finally, Advisor Group Holdings Inc. lifted its stake in Crocs by 59.4% in the second quarter. Advisor Group Holdings Inc. now owns 2,079 shares of the textile maker’s stock valued at $76,000 after buying an additional 775 shares during the period. 96.61% of the stock is currently owned by institutional investors and hedge funds.

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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