Seaport Res Ptn Has Optimistic View of Crocs FY2024 Earnings

Crocs, Inc. (NASDAQ:CROX) – Analysts at Seaport Res Ptn lifted their FY2024 earnings per share estimates for Crocs in a report issued on Tuesday, October 22nd. Seaport Res Ptn analyst M. Kummetz now forecasts that the textile maker will earn $12.95 per share for the year, up from their previous forecast of $12.90. The consensus estimate for Crocs’ current full-year earnings is $12.88 per share. Seaport Res Ptn also issued estimates for Crocs’ FY2025 earnings at $13.93 EPS and FY2026 earnings at $14.99 EPS.

A number of other research firms also recently weighed in on CROX. UBS Group cut their price target on Crocs from $148.00 to $146.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 16th. Wedbush reissued an “outperform” rating and issued a $170.00 target price on shares of Crocs in a research note on Monday, July 29th. Williams Trading upgraded Crocs from a “hold” rating to a “buy” rating and boosted their target price for the stock from $135.00 to $163.00 in a research report on Thursday, August 22nd. StockNews.com upgraded shares of Crocs from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Finally, Piper Sandler restated an “overweight” rating and set a $170.00 price objective on shares of Crocs in a report on Friday, August 23rd. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $162.58.

Crocs Trading Up 2.9 %

Shares of NASDAQ CROX opened at $133.75 on Thursday. The company’s 50 day simple moving average is $138.18 and its 200 day simple moving average is $138.55. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.50 and a quick ratio of 0.95. Crocs has a fifty-two week low of $74.00 and a fifty-two week high of $165.32. The firm has a market capitalization of $8.12 billion, a P/E ratio of 10.35, a P/E/G ratio of 1.35 and a beta of 1.99.

Crocs (NASDAQ:CROX) last released its earnings results on Thursday, August 1st. The textile maker reported $4.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.59 by $0.42. Crocs had a net margin of 20.02% and a return on equity of 53.20%. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the prior year, the company posted $3.59 EPS. The company’s revenue was up 3.6% compared to the same quarter last year.

Institutional Trading of Crocs

Several institutional investors and hedge funds have recently bought and sold shares of the business. Nordea Investment Management AB increased its holdings in shares of Crocs by 17.0% during the 1st quarter. Nordea Investment Management AB now owns 51,189 shares of the textile maker’s stock worth $7,292,000 after acquiring an additional 7,448 shares during the last quarter. Boston Partners acquired a new position in shares of Crocs in the first quarter valued at $10,771,000. Russell Investments Group Ltd. increased its holdings in shares of Crocs by 78.2% in the first quarter. Russell Investments Group Ltd. now owns 35,142 shares of the textile maker’s stock valued at $5,053,000 after purchasing an additional 15,418 shares during the last quarter. Motley Fool Asset Management LLC bought a new stake in shares of Crocs during the first quarter worth approximately $1,387,000. Finally, Virtu Financial LLC acquired a new position in Crocs in the 2nd quarter valued at $3,358,000. Institutional investors own 93.44% of the company’s stock.

Insider Buying and Selling

In other Crocs news, Director John B. Replogle purchased 1,996 shares of the stock in a transaction on Friday, August 2nd. The shares were purchased at an average cost of $123.96 per share, for a total transaction of $247,424.16. Following the purchase, the director now owns 7,064 shares of the company’s stock, valued at approximately $875,653.44. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Douglas J. Treff sold 10,594 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $132.38, for a total value of $1,402,433.72. Following the completion of the sale, the director now owns 81,254 shares of the company’s stock, valued at approximately $10,756,404.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John B. Replogle acquired 1,996 shares of the stock in a transaction dated Friday, August 2nd. The shares were purchased at an average price of $123.96 per share, for a total transaction of $247,424.16. Following the completion of the purchase, the director now directly owns 7,064 shares in the company, valued at $875,653.44. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.72% of the stock is currently owned by corporate insiders.

About Crocs

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.