Crocs (NASDAQ:CROX) Price Target Raised to $32.00

Share on StockTwits

Crocs (NASDAQ:CROX) had its price objective upped by Piper Jaffray Companies from $30.00 to $32.00 in a report published on Tuesday, Briefing.com Automated Import reports. The firm currently has an overweight rating on the textile maker’s stock. Piper Jaffray Companies also issued estimates for Crocs’ Q3 2019 earnings at $0.39 EPS, Q4 2019 earnings at $0.05 EPS, FY2019 earnings at $1.38 EPS, Q2 2020 earnings at $0.68 EPS, Q3 2020 earnings at $0.47 EPS, Q4 2020 earnings at $0.11 EPS, FY2020 earnings at $1.70 EPS and FY2021 earnings at $2.00 EPS.

A number of other equities research analysts also recently issued reports on the stock. ValuEngine upgraded shares of Crocs from a sell rating to a hold rating in a research note on Wednesday, September 11th. BidaskClub upgraded shares of Crocs from a hold rating to a buy rating in a research note on Friday, September 13th. CL King upgraded shares of Crocs from a neutral rating to a buy rating in a research note on Thursday, June 27th. Zacks Investment Research upgraded shares of Crocs from a hold rating to a strong-buy rating and set a $28.00 price objective on the stock in a research note on Friday, August 2nd. Finally, Pivotal Research reiterated a buy rating on shares of Crocs in a research note on Friday, August 2nd. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $31.57.

CROX stock opened at $27.69 on Tuesday. The company has a market capitalization of $2.00 billion, a PE ratio of 32.72, a price-to-earnings-growth ratio of 1.36 and a beta of 0.99. The company has a debt-to-equity ratio of 3.03, a quick ratio of 1.22 and a current ratio of 1.74. Crocs has a 52 week low of $17.52 and a 52 week high of $31.88. The company’s 50-day simple moving average is $24.66 and its 200 day simple moving average is $23.66.

Crocs (NASDAQ:CROX) last announced its quarterly earnings data on Thursday, August 1st. The textile maker reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.07. The firm had revenue of $358.90 million for the quarter, compared to the consensus estimate of $360.46 million. Crocs had a net margin of 5.61% and a return on equity of 47.15%. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.35 earnings per share. On average, analysts forecast that Crocs will post 1.42 EPS for the current year.

In other news, Director Doreen A. Wright sold 7,068 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $26.00, for a total value of $183,768.00. Following the sale, the director now directly owns 55,680 shares in the company, valued at approximately $1,447,680. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 2.42% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of CROX. Comerica Bank boosted its stake in shares of Crocs by 2.2% in the 1st quarter. Comerica Bank now owns 66,277 shares of the textile maker’s stock valued at $1,734,000 after purchasing an additional 1,403 shares in the last quarter. Texas Permanent School Fund boosted its stake in shares of Crocs by 3.7% in the 1st quarter. Texas Permanent School Fund now owns 45,313 shares of the textile maker’s stock valued at $1,167,000 after purchasing an additional 1,599 shares in the last quarter. Mason Street Advisors LLC boosted its stake in shares of Crocs by 3.3% in the 1st quarter. Mason Street Advisors LLC now owns 21,433 shares of the textile maker’s stock valued at $552,000 after purchasing an additional 688 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of Crocs by 1.8% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 25,871 shares of the textile maker’s stock valued at $666,000 after purchasing an additional 467 shares in the last quarter. Finally, ETF Managers Group LLC acquired a new stake in shares of Crocs in the 1st quarter valued at approximately $820,000.

About Crocs

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.

Featured Story: Earnings Reports

Analyst Recommendations for Crocs (NASDAQ:CROX)

Receive News & Ratings for Crocs Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crocs and related companies with MarketBeat.com's FREE daily email newsletter.