Crocs, Inc. (CROX) - What Are Investment Firms Thinking About This Stock?

Key Points

• Analyst sentiment is moderately bullish: 19 firms rate Crocs a “Moderate Buy,” and the average 12-month price target is $158.30.
• Quarterly results topped expectations: Crocs reported EPS of $3.69 versus $3.31 expected and revenue of $1.04 billion versus $1.00 billion expected; revenue grew 4.7% year over year.
• Insiders have been selling shares: Company insiders sold 83,161 shares worth about $12.8 million over the past three months, including sales by the CEO and an executive vice president.

Shares of Crocs, Inc. (NASDAQ:CROX - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the nineteen ratings firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twelve have given a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $158.30.

CROX has been the subject of several analyst reports. UBS Group boosted their price target on shares of Crocs from $120.00 to $145.00 and gave the company a "neutral" rating in a report on Friday, October 30th. BTIG Research reaffirmed a "neutral" rating on shares of Crocs in a report on Thursday, October 29th. Wall Street Zen upgraded shares of Crocs from a "buy" rating to a "strong-buy" rating in a research report on Sunday, November 1st. Monness Crespi & Hardt boosted their target price on shares of Crocs from $130.00 to $160.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Finally, Zacks Research upgraded shares of Crocs from a "hold" rating to a "strong-buy" rating in a research report on Friday, October 30th.

Insiders Place Their Bets

In other news, EVP Rupert George Campbell sold 2,645 shares of the firm's stock in a transaction on Friday, October 30th. The stock was sold at an average price of $150.87, for a total transaction of $399,051.15. Following the transaction, the executive vice president directly owned 68,573 shares of the company's stock, valued at approximately $10,345,608.51. This trade represents a 3.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andrew Rees sold 40,000 shares of Crocs stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $152.89, for a total transaction of $6,115,600.00. Following the sale, the chief executive officer owned 673,293 shares in the company, valued at approximately $102,939,766.77. This represents a 5.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 83,161 shares of company stock worth $12,775,941. 3.10% of the stock is owned by company insiders.

Institutional Trading of Crocs

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Root Financial Partners LLC acquired a new position in shares of Crocs during the third quarter valued at approximately $28,000. Versant Capital Management Inc lifted its position in Crocs by 95.9% in the third quarter. Versant Capital Management Inc now owns 290 shares of the textile maker's stock worth $34,000 after purchasing an additional 142 shares during the period. Global Retirement Partners LLC acquired a new stake in Crocs in the second quarter worth approximately $42,000. Heritage Family Offices LLP acquired a new stake in Crocs in the third quarter worth approximately $45,000. Finally, Allworth Financial LP bought a new position in Crocs during the 2nd quarter valued at $53,000. 93.44% of the stock is currently owned by institutional investors.

Crocs Stock Performance

Crocs stock opened at $159.66 on Wednesday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.44 and a quick ratio of 0.86. Crocs has a 12 month low of $73.21 and a 12 month high of $161.88. The company has a fifty day moving average price of $125.06 and a two-hundred day moving average price of $112.24. The company has a market cap of $7.30 billion, a PE ratio of 11.92, a P/E/G ratio of 1.28 and a beta of 1.49.

Crocs (NASDAQ:CROX - Get Free Report) last posted 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 company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1 billion. Crocs had a net margin of 16.20% and a return on equity of 49.35%. The company's revenue for the quarter was up 4.7% on a year-over-year basis. During the same period last year, the firm posted $2.92 EPS. Research analysts expect that Crocs will post 14.62 earnings per share for the current year.

Crocs Company Profile

Crocs, Inc. designs, markets and distributes casual footwear and related accessories. Its products include clogs, sandals, shoes and boots, with customizable Jibbitz charms among its accessories. The company sells products under the Crocs and HEYDUDE brands. Founded in 2002, Crocs became known for its lightweight molded clogs. It expanded its portfolio with the acquisition of casual footwear brand HEYDUDE in 2022. Crocs serves consumers worldwide through wholesale partners, retail stores and e-commerce.

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