Crocs (NASDAQ:CROX) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Thursday.
Other analysts also recently issued reports about the company. Pivotal Research reissued a “hold” rating and issued a $13.00 price objective (up from $10.00) on shares of Crocs in a research note on Wednesday, January 10th. Stifel Nicolaus raised Crocs from a “hold” rating to a “buy” rating in a research note on Friday, December 15th. Zacks Investment Research downgraded Crocs from a “hold” rating to a “sell” rating in a research note on Monday. Piper Jaffray Companies raised Crocs from a “neutral” rating to an “overweight” rating and set a $15.00 price objective for the company in a research note on Thursday, March 1st. Finally, CL King downgraded Crocs from a “buy” rating to a “neutral” rating in a research note on Monday, November 20th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. Crocs currently has a consensus rating of “Hold” and an average price target of $11.00.
Shares of Crocs (NASDAQ CROX) opened at $14.19 on Thursday. The company has a market capitalization of $988.59, a P/E ratio of -177.38, a PEG ratio of 2.92 and a beta of 0.55. Crocs has a 52 week low of $5.93 and a 52 week high of $14.95.
Crocs (NASDAQ:CROX) last issued its quarterly earnings data on Wednesday, February 28th. The textile maker reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.04). The company had revenue of $199.11 million during the quarter, compared to analysts’ expectations of $196.70 million. Crocs had a return on equity of 6.19% and a net margin of 1.00%. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period last year, the company earned ($0.58) earnings per share. analysts anticipate that Crocs will post 0.33 EPS for the current fiscal year.
Crocs announced that its Board of Directors has approved a share buyback plan on Wednesday, February 28th that allows the company to buyback $431.00 million in shares. This buyback authorization allows the textile maker to repurchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.
Several institutional investors and hedge funds have recently modified their holdings of CROX. State Street Corp increased its position in shares of Crocs by 3.3% during the second quarter. State Street Corp now owns 1,777,274 shares of the textile maker’s stock valued at $13,705,000 after acquiring an additional 56,238 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Crocs by 2.6% during the second quarter. The Manufacturers Life Insurance Company now owns 61,071 shares of the textile maker’s stock valued at $471,000 after acquiring an additional 1,553 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Crocs by 12.0% during the second quarter. Public Employees Retirement System of Ohio now owns 14,814 shares of the textile maker’s stock valued at $114,000 after acquiring an additional 1,586 shares during the last quarter. Nationwide Fund Advisors increased its position in shares of Crocs by 27.6% during the third quarter. Nationwide Fund Advisors now owns 64,520 shares of the textile maker’s stock valued at $626,000 after acquiring an additional 13,972 shares during the last quarter. Finally, Crossmark Global Holdings Inc. purchased a new stake in shares of Crocs during the third quarter valued at approximately $205,000. 99.78% of the stock is owned by institutional investors.
Crocs, Inc is engaged in the design, development, manufacturing, marketing, distribution and sale of casual lifestyle footwear and accessories for men, women, and children. The Company’s segments include Americas, Asia Pacific and Europe. Its products include footwear and accessories that utilize its closed-cell resin, called Croslite, as well as casual lifestyle footwear that use a range of materials.
Receive News & Ratings for Crocs Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crocs and related companies with MarketBeat.com's FREE daily email newsletter.