Crocs (NASDAQ:CROX) Given New $178.00 Price Target at Barclays

Crocs (NASDAQ:CROX) had its target price hoisted by equities research analysts at Barclays from $139.00 to $178.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the textile maker’s stock. Barclays‘s price target indicates a potential upside of 17.62% from the stock’s previous close.

Several other research firms also recently issued reports on CROX. BTIG Research reiterated a “neutral” rating on shares of Crocs in a research note on Thursday. UBS Group reissued a “neutral” rating and issued a $145.00 target price on shares of Crocs in a research note on Friday. Bank of America lifted their target price on shares of Crocs from $145.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Williams Trading set a $184.00 target price on shares of Crocs in a report on Friday. Finally, Needham & Company LLC upped their price target on shares of Crocs from $150.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $158.30.

Crocs Trading Up 0.7%

Shares of NASDAQ CROX traded up $1.07 during midday trading on Friday, hitting $151.33. The stock had a trading volume of 343,657 shares, compared to its average volume of 1,194,128. The company has a market capitalization of $7.25 billion, a price-to-earnings ratio of 13.13, a PEG ratio of 1.00 and a beta of 1.56. Crocs has a 1-year low of $73.21 and a 1-year high of $153.68. The company has a quick ratio of 0.96, a current ratio of 1.49 and a debt-to-equity ratio of 0.94. The company has a fifty day moving average price of $119.86 and a 200 day moving average price of $109.41.

Crocs (NASDAQ:CROX) last posted its earnings results on Thursday, October 29th. The textile maker reported $3.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.31 by $0.38. Crocs had a net margin of 14.64% and a return on equity of 47.75%. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the prior year, the company earned $2.92 EPS. The company’s revenue was up 4.7% on a year-over-year basis. On average, analysts predict that Crocs will post 13.97 earnings per share for the current year.

Insider Buying and Selling at Crocs

In other news, Director Beth Kaplan purchased 885 shares of the stock in a transaction that occurred on Tuesday, September 15th. The stock was acquired at an average cost of $112.12 per share, with a total value of $99,226.20. Following the acquisition, the director owned 15,259 shares in the company, valued at approximately $1,710,839.08. This trade represents a 6.16% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Andrew Rees sold 19,072 shares of Crocs stock in a transaction on Monday, August 10th. The stock was sold at an average price of $138.91, for a total transaction of $2,649,291.52. Following the sale, the chief executive officer directly owned 713,293 shares in the company, valued at $99,083,530.63. This trade represents a 2.60% decrease in their position. The SEC filing for this sale provides additional information. 3.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Crocs

Hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. purchased a new position in Crocs in the second quarter valued at about $561,223,000. Patient Capital Management LLC purchased a new stake in Crocs during the 2nd quarter worth approximately $96,443,000. Bank of New York Mellon Corp purchased a new stake in Crocs during the 2nd quarter worth approximately $39,610,000. Bank of America Corp DE purchased a new stake in Crocs during the 2nd quarter worth approximately $33,820,000. Finally, Fort Washington Investment Advisors Inc. OH raised its position in shares of Crocs by 14.8% in the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 268,617 shares of the textile maker’s stock valued at $31,511,000 after purchasing an additional 34,667 shares in the last quarter. 93.44% of the stock is owned by hedge funds and other institutional investors.

Crocs News Summary

Here are the key news stories impacting Crocs this week:

• Positive Sentiment: Crocs reported third-quarter revenue of $1.04 billion, up approximately 4.6% year over year, while adjusted EPS of $3.69 exceeded the $3.31 analyst consensus. GAAP diluted EPS rose 67.4% to $4.52. Crocs third-quarter results and outlook
• Positive Sentiment: Management raised its full-year revenue-growth forecast to approximately 3%, versus prior guidance of 1% to 2%, and expects fourth-quarter revenue to grow 7% to 9% year over year. The company also increased its full-year profit outlook. Reuters report on Crocs outlook
• Positive Sentiment: HEYDUDE returned to growth, with revenue up about 6% year over year, easing concerns about the acquired brand. The core Crocs Brand also grew 4.4%, supporting a broader recovery across the portfolio. Benzinga report on HEYDUDE recovery
• Positive Sentiment: Profitability improved substantially: gross margin expanded to 66.2% from 58.5%, operating income increased 40.6%, and Crocs repurchased roughly 2 million shares for $250 million. Needham raised its price target to $190 and reiterated a Buy rating. Needham analyst rating

Crocs Company Profile

Crocs, Inc is a global footwear company best known for its Crocs brand of casual, lightweight shoes. Its product portfolio includes clogs, sandals, slides, boots and other casual footwear, along with accessories such as Jibbitz charms, which are designed to personalize Crocs shoes.

The company was founded in 2002 and introduced its first clog that year. Crocs has expanded from its original molded footwear into a broader lifestyle brand, offering products for women, men and children through company-operated and third-party retail stores, e-commerce platforms and wholesale partners.

In 2022, Crocs completed its acquisition of HEYDUDE, adding the casual shoe brand to its portfolio.