Stifel Nicolaus Raises Crocs (NASDAQ:CROX) Price Target to $76.00


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Crocs (NASDAQ:CROX) had its target price lifted by Stifel Nicolaus from $56.00 to $76.00 in a report issued on Tuesday, The Fly reports. The firm presently has a “hold” rating on the textile maker’s stock. Stifel Nicolaus’ target price would suggest a potential downside of 0.47% from the stock’s previous close.

CROX has been the subject of several other research reports. Robert W. Baird increased their price objective on Crocs from $50.00 to $72.00 and gave the stock an “outperform” rating in a report on Wednesday, October 28th. UBS Group increased their price objective on Crocs from $48.00 to $57.00 and gave the stock a “neutral” rating in a report on Wednesday, October 28th. Loop Capital increased their price objective on Crocs from $60.00 to $75.00 in a report on Wednesday, December 9th. Pivotal Research increased their target price on Crocs from $68.00 to $87.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Monness Crespi & Hardt increased their target price on Crocs from $45.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, October 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $72.50.

NASDAQ CROX opened at $76.36 on Tuesday. Crocs has a fifty-two week low of $8.40 and a fifty-two week high of $78.68. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.07 and a current ratio of 1.70. The stock has a 50 day simple moving average of $64.03 and a two-hundred day simple moving average of $48.92. The stock has a market cap of $5.15 billion, a P/E ratio of 34.87, a price-to-earnings-growth ratio of 1.51 and a beta of 1.77.

Crocs (NASDAQ:CROX) last released its quarterly earnings data on Sunday, November 1st. The textile maker reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.24. Crocs had a return on equity of 102.93% and a net margin of 12.08%. The business had revenue of $361.70 million during the quarter, compared to analysts’ expectations of $343.98 million. During the same quarter last year, the business posted $0.57 EPS. The business’s revenue was up 15.6% on a year-over-year basis. Sell-side analysts predict that Crocs will post 2.65 earnings per share for the current year.

In related news, CFO Anne Mehlman sold 2,082 shares of the firm’s stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $55.00, for a total transaction of $114,510.00. Following the completion of the transaction, the chief financial officer now owns 98,891 shares of the company’s stock, valued at approximately $5,439,005. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Michelle Poole sold 9,806 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $54.66, for a total value of $535,995.96. Following the transaction, the president now directly owns 164,789 shares of the company’s stock, valued at approximately $9,007,366.74. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 92,040 shares of company stock valued at $5,744,560. 2.32% of the stock is owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the stock. Ballew Advisors Inc bought a new position in Crocs during the 4th quarter valued at approximately $353,000. Wedge Capital Management L L P NC bought a new position in Crocs during the 4th quarter valued at approximately $28,112,000. Strs Ohio increased its position in Crocs by 44.7% during the 3rd quarter. Strs Ohio now owns 5,500 shares of the textile maker’s stock valued at $235,000 after buying an additional 1,700 shares in the last quarter. Jupiter Wealth Management LLC bought a new stake in shares of Crocs in the 3rd quarter worth $128,000. Finally, Paloma Partners Management Co bought a new stake in shares of Crocs in the 3rd quarter worth $1,279,000. 95.34% of the stock is owned by institutional investors.

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.

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