Crocs (NASDAQ:CROX) Stock Price Expected to Rise, Barclays Analyst Says

Key Points

• Barclays raised its Crocs price target to $178 from $139 and maintained an “overweight” rating, implying approximately 17.6% upside from the reported share price.
• Crocs reported quarterly adjusted EPS of $3.69, beating the $3.31 consensus, while revenue reached $1.04 billion and increased about 4.7% year over year.
• Analyst sentiment is broadly positive: Crocs has a “Moderate Buy” consensus rating and an average price target of $158.30, while management raised its full-year growth and profit outlook as HEYDUDE returned to growth.

Crocs (NASDAQ:CROX - Get Free Report) had its target price boosted by investment analysts at Barclays from $139.00 to $178.00 in a research report issued on Friday, Benzinga reports. The firm currently has an "overweight" rating on the textile maker's stock. Barclays's price objective points to a potential upside of 17.62% from the company's current price.

Other equities research analysts have also issued research reports about the company. Wall Street Zen raised Crocs from a "buy" rating to a "strong-buy" rating in a report on Saturday, October 24th. Needham & Company LLC boosted their target price on shares of Crocs from $150.00 to $190.00 and gave the stock a "buy" rating in a research report on Thursday. Monness Crespi & Hardt boosted their target price on shares of Crocs from $130.00 to $160.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. UBS Group reaffirmed a "neutral" rating and set a $145.00 price target on shares of Crocs in a research note on Friday. Finally, Bank of America increased their price target on shares of Crocs from $145.00 to $160.00 and gave the company a "buy" rating in a report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Crocs currently has a consensus rating of "Moderate Buy" and an average price target of $158.30.

Crocs Stock Performance

Shares of CROX stock traded up $1.07 during mid-day trading on Friday, hitting $151.33. The stock had a trading volume of 343,657 shares, compared to its average volume of 1,194,128. Crocs has a fifty-two week low of $73.21 and a fifty-two week high of $153.68. The firm has a market cap of $7.25 billion, a PE ratio of 13.13, a PEG ratio of 1.00 and a beta of 1.56. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.49 and a quick ratio of 0.96. The company's 50-day simple moving average is $119.86 and its 200-day simple moving average is $109.41.

Crocs (NASDAQ:CROX - Get Free Report) last issued its quarterly earnings results on Thursday, October 29th. The textile maker reported $3.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.31 by $0.38. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1 billion. Crocs had a net margin of 14.64% and a return on equity of 47.75%. The business's revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business posted $2.92 earnings per share. Sell-side analysts anticipate that Crocs will post 13.97 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Beth J. Kaplan purchased 885 shares of the business's stock in a transaction dated Tuesday, September 15th. The stock was bought at an average cost of $112.12 per share, with a total value of $99,226.20. Following the completion of the acquisition, the director directly owned 15,259 shares in the company, valued at $1,710,839.08. The trade was a 6.16% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Andrew Rees sold 19,072 shares of the business's stock in a transaction on Monday, August 10th. The stock was sold at an average price of $138.91, for a total value of $2,649,291.52. Following the completion of the transaction, the chief executive officer directly owned 713,293 shares of the company's stock, valued at approximately $99,083,530.63. This trade represents a 2.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 3.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Baird Financial Group Inc. increased its position in Crocs by 450.1% during the second quarter. Baird Financial Group Inc. now owns 166,345 shares of the textile maker's stock worth $20,068,000 after purchasing an additional 136,106 shares during the last quarter. Bank of America Corp DE acquired a new position in shares of Crocs in the 2nd quarter valued at $33,820,000. Legal & General Group Plc acquired a new position in shares of Crocs in the 2nd quarter valued at $8,129,000. Corient Private Wealth LP grew its stake in shares of Crocs by 107.3% during the 2nd quarter. Corient Private Wealth LP now owns 23,832 shares of the textile maker's stock valued at $2,875,000 after buying an additional 12,335 shares during the period. Finally, WINTON GROUP Ltd purchased a new stake in shares of Crocs during the 2nd quarter valued at $1,556,000. Institutional investors and hedge funds own 93.44% of the company's stock.

Crocs News Summary

Here are the key news stories impacting Crocs this week:

• Positive Sentiment: Crocs reported third-quarter revenue of $1.04 billion, up approximately 4.6% year over year, while adjusted EPS of $3.69 exceeded the $3.31 analyst consensus. GAAP diluted EPS rose 67.4% to $4.52. Crocs third-quarter results and outlook
• Positive Sentiment: Management raised its full-year revenue-growth forecast to approximately 3%, versus prior guidance of 1% to 2%, and expects fourth-quarter revenue to grow 7% to 9% year over year. The company also increased its full-year profit outlook. Reuters report on Crocs outlook
• Positive Sentiment: HEYDUDE returned to growth, with revenue up about 6% year over year, easing concerns about the acquired brand. The core Crocs Brand also grew 4.4%, supporting a broader recovery across the portfolio. Benzinga report on HEYDUDE recovery
• Positive Sentiment: Profitability improved substantially: gross margin expanded to 66.2% from 58.5%, operating income increased 40.6%, and Crocs repurchased roughly 2 million shares for $250 million. Needham raised its price target to $190 and reiterated a Buy rating. Needham analyst rating

Crocs Company Profile

Crocs, Inc is a global footwear company best known for its Crocs brand of casual, lightweight shoes. Its product portfolio includes clogs, sandals, slides, boots and other casual footwear, along with accessories such as Jibbitz charms, which are designed to personalize Crocs shoes.

The company was founded in 2002 and introduced its first clog that year. Crocs has expanded from its original molded footwear into a broader lifestyle brand, offering products for women, men and children through company-operated and third-party retail stores, e-commerce platforms and wholesale partners.

In 2022, Crocs completed its acquisition of HEYDUDE, adding the casual shoe brand to its portfolio.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.