Alambic Investment Management L.P. trimmed its stake in shares of Crocs (NASDAQ:CROX) by 50.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 147,890 shares of the textile maker’s stock after selling 149,200 shares during the period. Alambic Investment Management L.P. owned about 0.22% of Crocs worth $2,403,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in Crocs during the first quarter worth about $184,000. Fox Run Management L.L.C. acquired a new stake in Crocs during the fourth quarter worth about $258,000. Investors Research Corp acquired a new stake in Crocs during the fourth quarter worth about $265,000. Capital Fund Management S.A. acquired a new stake in Crocs during the fourth quarter worth about $277,000. Finally, Teacher Retirement System of Texas acquired a new stake in Crocs during the fourth quarter worth about $315,000. 99.81% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms recently commented on CROX. Piper Jaffray set a $18.00 target price on Crocs and gave the stock a “buy” rating in a report on Monday, April 16th. Susquehanna Bancshares reaffirmed a “negative” rating and set a $12.00 target price on shares of Crocs in a report on Monday, April 16th. FIX lowered Crocs to a “neutral” rating and set a $12.00 target price on the stock. in a report on Monday, April 16th. Pivotal Research set a $15.00 target price on Crocs and gave the stock a “hold” rating in a report on Tuesday, May 8th. Finally, Stifel Nicolaus lowered Crocs from a “buy” rating to a “hold” rating and raised their target price for the stock from $16.00 to $17.00 in a report on Wednesday, May 9th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Crocs has a consensus rating of “Hold” and a consensus target price of $14.14.
Crocs (NASDAQ:CROX) last issued its quarterly earnings results on Tuesday, May 8th. The textile maker reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. The company had revenue of $283.15 million for the quarter, compared to the consensus estimate of $272.21 million. Crocs had a return on equity of 8.10% and a net margin of 1.51%. Crocs’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.08 earnings per share. equities analysts forecast that Crocs will post 0.28 EPS for the current fiscal year.
Crocs declared that its Board of Directors has initiated a share repurchase program on Wednesday, February 28th that allows the company to buyback $431.00 million in outstanding shares. This buyback authorization allows the textile maker to reacquire shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
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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