Crocs (NASDAQ:CROX) Trading 6.2% Higher

Shares of Crocs, Inc. (NASDAQ:CROX) shot up 6.2% during trading on Wednesday . The stock traded as high as $143.50 and last traded at $143.32. 373,222 shares were traded during trading, a decline of 73% from the average session volume of 1,357,516 shares. The stock had previously closed at $135.01.

Analyst Ratings Changes

CROX has been the topic of several research reports. Stifel Nicolaus upped their price target on Crocs from $140.00 to $158.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Barclays decreased their price target on Crocs from $169.00 to $164.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. UBS Group reduced their price objective on shares of Crocs from $148.00 to $146.00 and set a “neutral” rating for the company in a research note on Tuesday, July 16th. Bank of America raised their price objective on shares of Crocs from $160.00 to $187.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. Finally, Monness Crespi & Hardt boosted their target price on shares of Crocs from $140.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Crocs currently has an average rating of “Moderate Buy” and an average target price of $154.09.

Crocs Price Performance

The stock has a market cap of $8.45 billion, a price-to-earnings ratio of 11.04, a P/E/G ratio of 1.45 and a beta of 2.00. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.50 and a quick ratio of 1.14. The stock’s 50 day simple moving average is $140.17 and its two-hundred day simple moving average is $134.24.

Crocs (NASDAQ:CROX) last released its quarterly earnings results on Thursday, August 1st. The textile maker reported $4.01 EPS for the quarter, beating the consensus estimate of $3.59 by $0.42. The business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Crocs had a net margin of 20.02% and a return on equity of 53.20%. Crocs’s revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.59 earnings per share. On average, analysts forecast that Crocs, Inc. will post 12.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Shannon Sisler sold 1,404 shares of the firm’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $149.96, for a total value of $210,543.84. Following the transaction, the executive vice president now owns 37,103 shares of the company’s stock, valued at approximately $5,563,965.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Shannon Sisler sold 1,404 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $149.96, for a total value of $210,543.84. Following the completion of the sale, the executive vice president now owns 37,103 shares in the company, valued at $5,563,965.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew Rees sold 10,000 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $160.15, for a total value of $1,601,500.00. Following the transaction, the chief executive officer now owns 79,748 shares in the company, valued at approximately $12,771,642.20. The disclosure for this sale can be found here. In the last three months, insiders sold 30,598 shares of company stock valued at $4,572,263. 2.72% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Crocs

Several large investors have recently made changes to their positions in the stock. Nordea Investment Management AB increased its stake 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 purchasing an additional 7,448 shares during the last quarter. Alaska Permanent Fund Corp boosted its holdings in shares of Crocs by 282.2% during the 1st quarter. Alaska Permanent Fund Corp now owns 15,478 shares of the textile maker’s stock worth $2,226,000 after buying an additional 11,428 shares during the period. Tyro Capital Management LLC acquired a new position in Crocs in the 4th quarter valued at about $10,481,000. Boston Partners bought a new position in Crocs in the 1st quarter valued at about $10,771,000. Finally, BNP Paribas Financial Markets lifted its holdings in Crocs by 242.1% during the 4th quarter. BNP Paribas Financial Markets now owns 56,494 shares of the textile maker’s stock worth $5,277,000 after purchasing an additional 39,979 shares during the last quarter. Institutional investors and hedge funds own 93.44% of the company’s stock.

Crocs Company Profile

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.