Crocs, Inc. (NASDAQ:CROX) Sees Large Increase in Short Interest
Crocs, Inc. (NASDAQ:CROX) saw a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 9,628,400 shares, an increase of 6.6% from the July 31st total of 9,034,800 shares. Approximately 15.9% of the company’s shares are short sold. Based on an average daily trading volume, of 1,800,000 shares, the days-to-cover ratio is presently 5.3 days.
CROX has been the subject of several recent analyst reports. Robert W. Baird upgraded shares of Crocs from a “neutral” rating to an “outperform” rating and set a $29.00 price objective for the company in a research report on Friday, June 21st. Zacks Investment Research upgraded shares of Crocs from a “hold” rating to a “strong-buy” rating and set a $28.00 price objective for the company in a research report on Friday, August 2nd. ValuEngine upgraded shares of Crocs from a “sell” rating to a “hold” rating in a research report on Wednesday. BidaskClub upgraded shares of Crocs from a “hold” rating to a “buy” rating in a report on Friday. Finally, CL King upgraded shares of Crocs from a “neutral” rating to a “buy” rating in a report on Thursday, June 27th. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $30.29.
In other news, Director Doreen A. Wright sold 7,068 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $26.00, for a total transaction of $183,768.00. Following the completion of the sale, the director now directly owns 55,680 shares in the company, valued at $1,447,680. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 2.42% of the company’s stock.
NASDAQ:CROX traded up $0.51 during trading hours on Friday, reaching $28.56. The company had a trading volume of 1,227,408 shares, compared to its average volume of 1,262,506. The company has a quick ratio of 1.22, a current ratio of 1.74 and a debt-to-equity ratio of 3.03. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of 33.21, a P/E/G ratio of 1.34 and a beta of 0.99. The business’s 50-day simple moving average is $24.08 and its two-hundred day simple moving average is $23.63. Crocs has a twelve month low of $17.52 and a twelve month high of $31.88.
Crocs (NASDAQ:CROX) last posted its quarterly earnings results on Thursday, August 1st. The textile maker reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.07. The business had revenue of $358.90 million during the quarter, compared to analysts’ expectations of $360.46 million. Crocs had a net margin of 5.61% and a return on equity of 47.15%. The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the company posted $0.35 earnings per share. As a group, equities analysts predict that Crocs will post 1.4 earnings per share for the current year.
Crocs, Inc, together with its subsidiaries, designs, develops, manufactures, markets, and distributes casual lifestyle footwear and accessories for men, women, and children worldwide. It offers various footwear products, including clogs, sandals, flips and slides, shoes, and boots under the Crocs brand name.
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