Loop Capital Upgrades Crocs (NASDAQ:CROX) to "Buy"

Crocs (NASDAQ:CROX - Get Free Report) was upgraded by stock analysts at Loop Capital from a "hold" rating to a "buy" rating in a report released on Wednesday,Briefing.com Automated Import reports. The firm presently has a $110.00 price objective on the textile maker's stock. Loop Capital's price target would suggest a potential upside of 11.88% from the stock's current price.

A number of other equities research analysts have also recently commented on CROX. Guggenheim cut their price target on shares of Crocs from $155.00 to $150.00 and set a "buy" rating on the stock in a report on Monday, February 3rd. KeyCorp dropped their target price on shares of Crocs from $150.00 to $120.00 and set an "overweight" rating on the stock in a report on Thursday, January 23rd. Bank of America raised their target price on shares of Crocs from $144.00 to $153.00 and gave the stock a "buy" rating in a report on Friday, February 14th. UBS Group raised their target price on shares of Crocs from $122.00 to $132.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. Finally, StockNews.com cut shares of Crocs from a "buy" rating to a "hold" rating in a report on Thursday, February 20th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Crocs has an average rating of "Moderate Buy" and a consensus target price of $143.53.

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Crocs Price Performance

Shares of NASDAQ CROX opened at $98.32 on Wednesday. Crocs has a fifty-two week low of $88.25 and a fifty-two week high of $165.32. The company has a 50 day simple moving average of $103.30 and a two-hundred day simple moving average of $115.72. The company has a market capitalization of $5.51 billion, a price-to-earnings ratio of 6.15, a P/E/G ratio of 1.80 and a beta of 1.84. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.70 and a current ratio of 1.18.

Crocs (NASDAQ:CROX - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The textile maker reported $2.52 EPS for the quarter, beating analysts' consensus estimates of $2.27 by $0.25. Crocs had a net margin of 23.16% and a return on equity of 46.27%. Analysts expect that Crocs will post 13.2 EPS for the current fiscal year.

Insider Buying and Selling at Crocs

In other Crocs news, EVP Shannon Sisler sold 4,659 shares of Crocs stock in a transaction on Friday, February 21st. The shares were sold at an average price of $109.75, for a total value of $511,325.25. Following the completion of the transaction, the executive vice president now directly owns 29,299 shares of the company's stock, valued at $3,215,565.25. This trade represents a 13.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Adam Michaels sold 15,000 shares of Crocs stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $106.69, for a total transaction of $1,600,350.00. Following the transaction, the executive vice president now directly owns 89,323 shares of the company's stock, valued at approximately $9,529,870.87. This represents a 14.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.72% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Crocs

A number of large investors have recently made changes to their positions in the company. FMR LLC boosted its stake in shares of Crocs by 4.8% during the 3rd quarter. FMR LLC now owns 8,907,591 shares of the textile maker's stock worth $1,289,908,000 after purchasing an additional 406,287 shares during the period. Vanguard Group Inc. boosted its position in Crocs by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 5,477,574 shares of the textile maker's stock valued at $599,959,000 after buying an additional 47,576 shares during the period. Pacer Advisors Inc. boosted its position in Crocs by 39.6% in the 4th quarter. Pacer Advisors Inc. now owns 2,037,121 shares of the textile maker's stock valued at $223,126,000 after buying an additional 577,467 shares during the period. State Street Corp boosted its position in Crocs by 0.7% in the 3rd quarter. State Street Corp now owns 1,812,493 shares of the textile maker's stock valued at $262,467,000 after buying an additional 13,467 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its position in Crocs by 1,516.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,326,564 shares of the textile maker's stock valued at $145,299,000 after buying an additional 1,244,480 shares during the period. 93.44% of the stock is owned by hedge funds and other 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.

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