Crocs (NASDAQ:CROX) Price Target Raised to $60.00 at Monness Crespi & Hardt

Crocs (NASDAQ:CROX) had its price objective boosted by Monness Crespi & Hardt from $45.00 to $60.00 in a report issued on Wednesday morning, The Fly reports. Monness Crespi & Hardt currently has a buy rating on the textile maker’s stock.

A number of other research firms also recently weighed in on CROX. CL King downgraded Crocs from a buy rating to a neutral rating in a research report on Friday, July 17th. They noted that the move was a valuation call. TheStreet upgraded Crocs from a c rating to a b- rating in a research report on Friday, July 31st. B. Riley raised their price objective on Crocs from $50.00 to $54.00 and gave the company a buy rating in a research note on Wednesday, October 14th. Piper Sandler raised their price objective on Crocs from $53.00 to $67.00 and gave the company an overweight rating in a research note on Tuesday. Finally, 140166 reaffirmed a buy rating and set a $53.00 price objective on shares of Crocs in a research note on Thursday, July 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating, nine have issued 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 a consensus target price of $55.75.

NASDAQ CROX opened at $53.93 on Wednesday. The stock’s 50-day simple moving average is $46.08 and its two-hundred day simple moving average is $35.41. Crocs has a twelve month low of $8.40 and a twelve month high of $55.40. The company has a quick ratio of 1.49, a current ratio of 2.12 and a debt-to-equity ratio of 1.75. The company has a market capitalization of $3.64 billion, a price-to-earnings ratio of 30.13 and a beta of 1.74.

Crocs (NASDAQ:CROX) last released its quarterly earnings results on Saturday, October 31st. The textile maker reported $0.94 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.24. Crocs had a return on equity of 106.21% and a net margin of 10.37%. The business had revenue of $361.70 million for the quarter, compared to the consensus estimate of $343.98 million. During the same quarter last year, the business posted $0.57 earnings per share. The company’s revenue for the quarter was up 15.6% on a year-over-year basis. On average, equities analysts expect that Crocs will post 2.08 earnings per share for the current fiscal year.

In related news, Director Thomas J. Smach sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $38.00, for a total value of $380,000.00. Following the sale, the director now directly owns 177,336 shares of the company’s stock, valued at $6,738,768. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.32% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue grew its stake in shares of Crocs by 4.7% in the second quarter. State of Alaska Department of Revenue now owns 63,605 shares of the textile maker’s stock worth $2,341,000 after purchasing an additional 2,849 shares during the last quarter. Invesco Ltd. grew its stake in shares of Crocs by 164.3% in the first quarter. Invesco Ltd. now owns 768,419 shares of the textile maker’s stock worth $13,055,000 after purchasing an additional 477,656 shares during the last quarter. Royal Bank of Canada grew its stake in shares of Crocs by 152.7% in the first quarter. Royal Bank of Canada now owns 34,233 shares of the textile maker’s stock worth $582,000 after purchasing an additional 20,686 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Crocs by 94.5% in the third quarter. Assenagon Asset Management S.A. now owns 194,696 shares of the textile maker’s stock worth $8,319,000 after purchasing an additional 94,620 shares during the last quarter. Finally, TLW Wealth Management LLC grew its stake in shares of Crocs by 0.3% in the second quarter. TLW Wealth Management LLC now owns 241,634 shares of the textile maker’s stock worth $8,897,000 after purchasing an additional 716 shares during the last quarter. 96.61% of the stock is currently owned by 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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