Crocs' (CROX) "Buy" Rating Reaffirmed at Guggenheim

Crocs (NASDAQ:CROX - Get Free Report)'s stock had its "buy" rating reiterated by research analysts at Guggenheim in a note issued to investors on Friday,Benzinga reports. They presently have a $155.00 price objective on the textile maker's stock. Guggenheim's target price would suggest a potential upside of 41.23% from the company's previous close.

Several other equities research analysts have also issued reports on CROX. UBS Group reduced their price objective on shares of Crocs from $146.00 to $122.00 and set a "neutral" rating for the company in a research note on Wednesday, October 30th. Williams Trading upgraded Crocs from a "hold" rating to a "buy" rating and upped their price target for the stock from $135.00 to $163.00 in a research note on Thursday, August 22nd. Monness Crespi & Hardt lowered their price objective on Crocs from $170.00 to $140.00 and set a "buy" rating on the stock in a report on Wednesday, October 30th. Loop Capital lowered Crocs from a "buy" rating to a "hold" rating and reduced their target price for the stock from $150.00 to $110.00 in a report on Thursday, November 7th. Finally, Piper Sandler reiterated an "overweight" rating and set a $170.00 price target on shares of Crocs in a report on Friday, August 23rd. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Crocs presently has a consensus rating of "Moderate Buy" and a consensus price target of $148.80.

Crocs Stock Performance

NASDAQ CROX traded down $0.16 during trading hours on Friday, reaching $109.75. The company's stock had a trading volume of 1,034,575 shares, compared to its average volume of 1,425,065. Crocs has a 52 week low of $85.71 and a 52 week high of $165.32. The business has a 50-day simple moving average of $118.50 and a 200 day simple moving average of $133.40. The company has a current ratio of 1.43, a quick ratio of 0.90 and a debt-to-equity ratio of 0.82. The stock has a market cap of $6.40 billion, a PE ratio of 7.96, a PEG ratio of 1.14 and a beta of 1.98.

Crocs (NASDAQ:CROX - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The textile maker reported $3.60 EPS for the quarter, topping analysts' consensus estimates of $3.10 by $0.50. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. Crocs had a return on equity of 49.70% and a net margin of 20.50%. The firm's revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.25 earnings per share. Equities research analysts predict that Crocs will post 12.93 earnings per share for the current fiscal year.

Insider Activity at Crocs

In other Crocs news, CFO Susan L. Healy acquired 1,000 shares of Crocs stock in a transaction dated Wednesday, November 13th. The stock was bought at an average cost of $99.70 per share, with a total value of $99,700.00. Following the acquisition, the chief financial officer now owns 22,652 shares of the company's stock, valued at approximately $2,258,404.40. The trade was a 4.62 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John B. Replogle bought 2,240 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was acquired at an average cost of $112.60 per share, for a total transaction of $252,224.00. Following the purchase, the director now owns 9,304 shares of the company's stock, valued at $1,047,630.40. This trade represents a 31.71 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 2.72% of the company's stock.

Institutional Investors Weigh In On Crocs

Several large investors have recently modified their holdings of the stock. Franklin Resources Inc. boosted its stake in Crocs by 31.1% in the 3rd quarter. Franklin Resources Inc. now owns 46,600 shares of the textile maker's stock valued at $6,497,000 after buying an additional 11,056 shares in the last quarter. Tidal Investments LLC lifted its holdings in shares of Crocs by 64.5% during the third quarter. Tidal Investments LLC now owns 21,674 shares of the textile maker's stock valued at $3,139,000 after acquiring an additional 8,498 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Crocs in the 3rd quarter valued at $73,000. World Investment Advisors LLC bought a new stake in shares of Crocs in the 3rd quarter worth about $211,000. Finally, TD Private Client Wealth LLC increased its position in shares of Crocs by 21.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,245 shares of the textile maker's stock worth $180,000 after purchasing an additional 216 shares in the last quarter. 93.44% of the stock is currently owned by institutional investors.

About Crocs

Crocs, Inc, together with its subsidiaries, designs, develops, manufactures, markets, distributes, and sells casual lifestyle footwear and accessories for men, women, and children under Crocs and HEYDUDE Brand in the United States and internationally. The company offers various footwear products, including clogs, sandals, slides, flips, wedges, platforms, socks, boots, charms, flip flops, sneakers, and slippers.