Crocs (NASDAQ:CROX) Sets New 12-Month High - Here's What Happened

Key Points

• Crocs shares hit a new 52-week high, reaching $162.27 and last trading at $162.19, up from the prior close of $156.88.
• The company beat quarterly estimates, reporting $3.69 per share in earnings versus $3.31 expected and $1.04 billion in revenue versus $1 billion expected. Revenue rose 4.7% year over year.
• Analysts give Crocs a consensus “Moderate Buy” rating, with an average price target of $158.30; recent target increases included Bank of America raising its target to $160.

Crocs, Inc. (NASDAQ:CROX - Get Free Report)'s share price reached a new 52-week high on Friday. The stock traded as high as $162.27 and last traded at $162.19, with a volume of 387,601 shares changing hands. The stock had previously closed at $156.88.

Analyst Ratings Changes

CROX has been the subject of a number of research analyst reports. Bank of America lifted their price objective on shares of Crocs from $145.00 to $160.00 and gave the stock a "buy" rating in a report on Thursday, July 23rd. Wall Street Zen upgraded Crocs from a "buy" rating to a "strong-buy" rating in a research report on Sunday, November 1st. Seaport Research Partners lifted their price target on Crocs from $135.00 to $160.00 and gave the stock a "buy" rating in a research note on Monday, July 20th. Monness Crespi & Hardt lifted their price target on Crocs from $130.00 to $160.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Finally, Robert W. Baird set a $163.00 price objective on Crocs in a report on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $158.30.

Crocs Stock Performance

The stock has a market cap of $7.44 billion, a PE ratio of 12.15, a P/E/G ratio of 1.27 and a beta of 1.49. The company has a fifty day moving average price of $126.77 and a 200 day moving average price of $112.98. The company has a quick ratio of 0.86, a current ratio of 1.44 and a debt-to-equity ratio of 0.96.

Crocs (NASDAQ:CROX - Get Free Report) last issued its earnings results on Thursday, October 29th. The textile maker reported $3.69 earnings per share for the quarter, beating the consensus estimate of $3.31 by $0.38. The company had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1 billion. Crocs had a return on equity of 49.35% and a net margin of 16.20%. Crocs's quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.92 EPS. Analysts expect that Crocs, Inc. will post 14.62 earnings per share for the current year.

Insider Activity at Crocs

In other Crocs news, Director Ronald Frasch sold 15,000 shares of the stock in a transaction on Friday, October 30th. The shares were sold at an average price of $153.51, for a total transaction of $2,302,650.00. Following the completion of the sale, the director owned 61,180 shares of the company's stock, valued at $9,391,741.80. This represents a 19.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Douglas Treff sold 10,714 shares of the firm's stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $159.21, for a total transaction of $1,705,775.94. Following the completion of the sale, the director directly owned 61,371 shares in the company, valued at approximately $9,770,876.91. This trade represents a 14.86% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 83,161 shares of company stock worth $12,775,941 over the last ninety days. Insiders own 3.10% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. First Trust Advisors LP lifted its holdings in Crocs by 262.5% in the 3rd quarter. First Trust Advisors LP now owns 42,832 shares of the textile maker's stock worth $5,025,000 after buying an additional 31,016 shares during the period. Private Advisor Group LLC lifted its stake in Crocs by 42.3% in the third quarter. Private Advisor Group LLC now owns 4,297 shares of the textile maker's stock worth $504,000 after acquiring an additional 1,278 shares during the period. Independent Advisor Alliance grew its holdings in shares of Crocs by 3.7% during the 3rd quarter. Independent Advisor Alliance now owns 2,579 shares of the textile maker's stock worth $314,000 after acquiring an additional 92 shares during the period. Landscape Capital Management L.L.C. bought a new position in Crocs in the third quarter worth $485,000. Finally, Voya Investment Management LLC grew its position in shares of Crocs by 2.2% in the 3rd quarter. Voya Investment Management LLC now owns 3,790 shares of the textile maker's stock worth $445,000 after buying an additional 83 shares during the period. Hedge funds and other institutional investors own 93.44% of the company's stock.

About Crocs

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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