Barclays Increases Crocs (NASDAQ:CROX) Price Target to $169.00

Crocs (NASDAQ:CROX) had its price objective upped by equities researchers at Barclays from $167.00 to $169.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the textile maker’s stock. Barclays‘s price target would indicate a potential upside of 24.75% from the company’s current price.

Several other research firms have also weighed in on CROX. Stifel Nicolaus lifted their target price on shares of Crocs from $140.00 to $158.00 and gave the company a “buy” rating in a report on Wednesday. Williams Trading restated a “hold” rating and set a $125.00 price objective (down previously from $135.00) on shares of Crocs in a research note on Tuesday, April 16th. OTR Global upgraded Crocs from a “mixed” rating to a “positive” rating in a research note on Thursday, April 11th. Bank of America boosted their price target on Crocs from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $154.00 price objective on shares of Crocs in a research report on Friday, May 3rd. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Crocs has a consensus rating of “Moderate Buy” and an average price target of $150.42.

Crocs Trading Down 0.7 %

Crocs stock traded down $1.02 during midday trading on Wednesday, reaching $135.47. The stock had a trading volume of 823,452 shares, compared to its average volume of 1,418,551. The stock has a market capitalization of $8.22 billion, a PE ratio of 10.59, a price-to-earnings-growth ratio of 1.56 and a beta of 2.03. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.75 and a current ratio of 1.30. The stock’s 50-day simple moving average is $129.57 and its 200 day simple moving average is $109.82. Crocs has a twelve month low of $74.00 and a twelve month high of $146.79.

Crocs (NASDAQ:CROX) last released its quarterly earnings data on Tuesday, May 7th. The textile maker reported $3.02 earnings per share for the quarter, beating the consensus estimate of $2.25 by $0.77. The business had revenue of $938.60 million for the quarter, compared to analyst estimates of $884.29 million. Crocs had a return on equity of 61.97% and a net margin of 20.00%. The company’s revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.61 EPS. Analysts expect that Crocs will post 12.44 EPS for the current year.

Insider Transactions at Crocs

In other Crocs news, President Michelle Poole sold 4,793 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $119.15, for a total transaction of $571,085.95. Following the transaction, the president now directly owns 64,912 shares in the company, valued at approximately $7,734,264.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Ian Bickley sold 16,785 shares of Crocs stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $120.05, for a total value of $2,015,039.25. Following the completion of the transaction, the director now owns 31,815 shares in the company, valued at approximately $3,819,390.75. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Michelle Poole sold 4,793 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $119.15, for a total value of $571,085.95. Following the sale, the president now directly owns 64,912 shares in the company, valued at $7,734,264.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 39,867 shares of company stock valued at $4,786,276. 2.72% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Crocs

A number of hedge funds have recently added to or reduced their stakes in CROX. Raymond James & Associates boosted its holdings in shares of Crocs by 235.8% in the 4th quarter. Raymond James & Associates now owns 58,514 shares of the textile maker’s stock valued at $5,466,000 after buying an additional 41,091 shares during the period. Tealwood Asset Management Inc. bought a new position in shares of Crocs during the fourth quarter valued at approximately $865,000. Teachers Retirement System of The State of Kentucky raised its position in shares of Crocs by 27.4% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 38,609 shares of the textile maker’s stock worth $3,407,000 after purchasing an additional 8,297 shares during the period. WealthPlan Investment Management LLC acquired a new position in Crocs during the 3rd quarter valued at approximately $575,000. Finally, Townsend & Associates Inc grew its stake in Crocs by 100.2% during the 3rd quarter. Townsend & Associates Inc now owns 53,659 shares of the textile maker’s stock worth $4,614,000 after buying an additional 26,860 shares during the last quarter. Institutional investors and hedge funds own 93.44% of the company’s stock.

About Crocs

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.