Crocs (NASDAQ:CROX) Given New $148.00 Price Target at UBS Group

Crocs (NASDAQ:CROX) had its price objective hoisted by UBS Group from $124.00 to $148.00 in a report released on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the textile maker’s stock.

Several other equities analysts have also weighed in on CROX. Barclays started coverage on shares of Crocs in a research report on Monday, April 1st. They set an overweight rating and a $167.00 price objective for the company. Williams Trading restated a hold rating and issued a $125.00 price target (down previously from $135.00) on shares of Crocs in a research report on Tuesday, April 16th. B. Riley increased their price objective on Crocs from $95.00 to $122.00 and gave the company a neutral rating in a research report on Wednesday, April 10th. Stifel Nicolaus boosted their price target on shares of Crocs from $140.00 to $158.00 and gave the company a buy rating in a report on Wednesday. Finally, Piper Sandler raised their price objective on shares of Crocs from $135.00 to $140.00 and gave the stock an overweight rating in a research note on Friday, February 16th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $150.42.

Crocs Price Performance

Shares of CROX stock traded up $2.67 during midday trading on Wednesday, reaching $138.09. 130,435 shares of the company were exchanged, compared to its average volume of 1,408,054. The company’s 50 day moving average price is $129.81 and its two-hundred day moving average price is $110.00. 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 company has a market cap of $8.38 billion, a P/E ratio of 10.57, a PEG ratio of 1.56 and a beta of 2.03. Crocs has a 12 month low of $74.00 and a 12 month high of $146.79.

Crocs (NASDAQ:CROX) last issued its quarterly earnings results on Tuesday, May 7th. The textile maker reported $3.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.25 by $0.77. Crocs had a return on equity of 61.97% and a net margin of 20.00%. The firm had revenue of $938.60 million during the quarter, compared to analyst estimates of $884.29 million. During the same period last year, the company posted $2.61 EPS. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. On average, sell-side analysts expect that Crocs will post 12.44 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director John B. Replogle purchased 1,972 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was bought at an average price of $126.75 per share, for a total transaction of $249,951.00. Following the purchase, the director now owns 3,153 shares in the company, valued at approximately $399,642.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Daniel P. Hart sold 10,000 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $118.48, for a total value of $1,184,800.00. Following the completion of the sale, the executive vice president now directly owns 219,293 shares of the company’s stock, valued at $25,981,834.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John B. Replogle acquired 1,972 shares of the stock in a transaction dated Thursday, March 14th. The stock was bought at an average price of $126.75 per share, for a total transaction of $249,951.00. Following the purchase, the director now owns 3,153 shares of the company’s stock, valued at approximately $399,642.75. The disclosure for this purchase can be found here. Insiders sold 39,867 shares of company stock valued at $4,786,276 over the last ninety days. Corporate insiders own 2.72% of the company’s stock.

Institutional Trading of Crocs

A number of hedge funds have recently bought and sold shares of the stock. Edmond DE Rothschild Holding S.A. lifted its position in shares of Crocs by 7.3% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 16,865 shares of the textile maker’s stock worth $2,425,000 after acquiring an additional 1,142 shares during the period. Motley Fool Asset Management LLC bought a new stake in Crocs in the 1st quarter valued at $1,387,000. Russell Investments Group Ltd. raised its stake in shares of Crocs by 78.2% in the 1st quarter. Russell Investments Group Ltd. now owns 35,142 shares of the textile maker’s stock valued at $5,053,000 after buying an additional 15,418 shares in the last quarter. QRG Capital Management Inc. bought a new position in shares of Crocs during the 1st quarter worth about $268,000. Finally, Sei Investments Co. boosted its position in shares of Crocs by 17.3% during the 1st quarter. Sei Investments Co. now owns 18,215 shares of the textile maker’s stock valued at $2,619,000 after acquiring an additional 2,680 shares in the last quarter. 93.44% of the stock is owned by institutional investors.

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.