Pivotal Research set a $25.00 target price on Crocs (NASDAQ:CROX) in a report issued on Tuesday morning, Marketbeat.com reports. The brokerage currently has a buy rating on the textile maker’s stock.
“We believe that Crocs brand strength accelerated from 2Q to 3Q.”,” the firm’s analyst wrote.
A number of other analysts also recently issued reports on the stock. Piper Jaffray Companies set a $23.00 price target on shares of Crocs and gave the company a buy rating in a report on Monday, October 22nd. TheStreet raised shares of Crocs from a c+ rating to a b rating in a report on Thursday, August 9th. Zacks Investment Research raised shares of Crocs from a hold rating to a strong-buy rating and set a $20.00 price target on the stock in a report on Wednesday, August 8th. Finally, BidaskClub downgraded shares of Crocs from a buy rating to a hold rating in a report on Thursday, October 4th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Crocs has a consensus rating of Hold and an average target price of $17.14.
Crocs (NASDAQ:CROX) last announced its quarterly earnings results on Tuesday, August 7th. The textile maker reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.26. The firm had revenue of $328.00 million for the quarter, compared to the consensus estimate of $321.47 million. Crocs had a net margin of 2.29% and a return on equity of 13.84%. As a group, equities research analysts forecast that Crocs will post 0.27 EPS for the current fiscal year.
In related news, insider Daniel P. Hart sold 20,831 shares of the firm’s stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $20.00, for a total value of $416,620.00. Following the transaction, the insider now owns 347,706 shares of the company’s stock, valued at $6,954,120. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Thomas J. Smach sold 74,400 shares of the firm’s stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $20.14, for a total transaction of $1,498,416.00. Following the completion of the transaction, the director now directly owns 125,262 shares in the company, valued at approximately $2,522,776.68. The disclosure for this sale can be found here. Company insiders own 2.10% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Hartford Investment Management Co. raised its stake in Crocs by 30.1% during the 2nd quarter. Hartford Investment Management Co. now owns 13,274 shares of the textile maker’s stock worth $234,000 after acquiring an additional 3,074 shares during the period. United Services Automobile Association raised its stake in Crocs by 29.3% during the 2nd quarter. United Services Automobile Association now owns 14,756 shares of the textile maker’s stock worth $260,000 after acquiring an additional 3,347 shares during the period. Wells Fargo & Company MN raised its stake in Crocs by 3.3% during the 1st quarter. Wells Fargo & Company MN now owns 108,290 shares of the textile maker’s stock worth $1,760,000 after acquiring an additional 3,487 shares during the period. Cambria Investment Management L.P. raised its stake in Crocs by 11.5% during the 2nd quarter. Cambria Investment Management L.P. now owns 34,801 shares of the textile maker’s stock worth $613,000 after acquiring an additional 3,600 shares during the period. Finally, Chicago Equity Partners LLC raised its stake in Crocs by 9.5% during the 3rd quarter. Chicago Equity Partners LLC now owns 41,790 shares of the textile maker’s stock worth $890,000 after acquiring an additional 3,620 shares during the period. 97.24% of the stock is currently owned by institutional investors.
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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