Crocs (NASDAQ:CROX) Shares Gap Up - Here's What Happened

Crocs, Inc. (NASDAQ:CROX - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $97.49, but opened at $101.04. Crocs shares last traded at $101.04, with a volume of 486,455 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CROX. Barclays cut their target price on shares of Crocs from $125.00 to $122.00 and set an "overweight" rating for the company in a research report on Friday, February 14th. Robert W. Baird reduced their target price on Crocs from $180.00 to $150.00 and set an "outperform" rating on the stock in a research note on Monday, February 10th. KeyCorp dropped their price target on Crocs from $150.00 to $120.00 and set an "overweight" rating for the company in a research report on Thursday, January 23rd. Bank of America increased their price objective on Crocs from $144.00 to $153.00 and gave the company a "buy" rating in a research note on Friday, February 14th. Finally, Guggenheim reduced their target price 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. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $139.21.

Crocs Stock Up 4.4 %

The stock has a market cap of $5.71 billion, a price-to-earnings ratio of 6.38, a price-to-earnings-growth ratio of 1.80 and a beta of 1.46. The firm's 50-day moving average is $99.55 and its 200 day moving average is $104.87. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.18 and a quick ratio of 0.70.

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

Insider Transactions at Crocs

In other Crocs news, EVP Adam Michaels sold 15,000 shares of Crocs stock in a transaction that occurred on Tuesday, February 18th. The shares were 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 $9,529,870.87. The trade was a 14.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Shannon Sisler sold 4,659 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $109.75, for a total transaction of $511,325.25. Following the completion of the sale, the executive vice president now directly owns 29,299 shares of the company's stock, valued at $3,215,565.25. The trade was a 13.72 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.72% of the company's stock.

Institutional Investors Weigh In On Crocs

Institutional investors and hedge funds have recently modified their holdings of the stock. Jackson Creek Investment Advisors LLC acquired a new position in Crocs during the 1st quarter worth approximately $426,000. Victory Capital Management Inc. lifted its position in shares of Crocs by 29.6% during the first quarter. Victory Capital Management Inc. now owns 36,563 shares of the textile maker's stock worth $3,883,000 after purchasing an additional 8,353 shares in the last quarter. Larson Financial Group LLC boosted its stake in shares of Crocs by 541.8% in the first quarter. Larson Financial Group LLC now owns 353 shares of the textile maker's stock valued at $37,000 after purchasing an additional 298 shares during the period. Wealthfront Advisers LLC acquired a new stake in Crocs during the 1st quarter valued at $273,000. Finally, Signaturefd LLC increased its stake in Crocs by 65.3% during the 1st quarter. Signaturefd LLC now owns 686 shares of the textile maker's stock worth $73,000 after buying an additional 271 shares during the period. Hedge funds and other institutional investors own 93.44% of the company's stock.

Crocs Company Profile

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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