Crocs (NASDAQ:CROX) Shares Gap Up to $140.60

Crocs, Inc. (NASDAQ:CROX) shares gapped up before the market opened on Thursday . The stock had previously closed at $140.60, but opened at $144.41. Crocs shares last traded at $144.79, with a volume of 125,818 shares traded.

Analysts Set New Price Targets

A number of equities analysts have commented on CROX shares. Wedbush restated an “outperform” rating and issued a $170.00 target price on shares of Crocs in a research note on Monday, July 29th. UBS Group lowered their price objective on Crocs from $148.00 to $146.00 and set a “neutral” rating for the company in a research note on Tuesday, July 16th. Barclays cut their target price on Crocs from $169.00 to $164.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Raymond James lowered shares of Crocs from a “strong-buy” rating to an “outperform” rating and set a $164.00 price target for the company. in a research report on Friday, August 2nd. Finally, Monness Crespi & Hardt lifted their price objective on shares of Crocs from $140.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $157.55.

Crocs Trading Up 2.1 %

The business’s 50 day moving average price is $140.17 and its two-hundred day moving average price is $134.24. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.14 and a current ratio of 1.50. The company has a market capitalization of $8.72 billion, a price-to-earnings ratio of 10.88, a price-to-earnings-growth ratio of 1.45 and a beta of 2.00.

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

Insider Activity at Crocs

In other Crocs news, Director John B. Replogle purchased 1,996 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was bought at an average cost of $123.96 per share, with a total value of $247,424.16. Following the acquisition, the director now owns 7,064 shares of the company’s stock, valued at $875,653.44. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Crocs news, Director John B. Replogle purchased 1,996 shares of the firm’s stock in a transaction on 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 transaction, the director now owns 7,064 shares in the company, valued at approximately $875,653.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Andrew Rees sold 10,000 shares of the stock in a transaction on Monday, June 17th. The shares were sold at an average price of $160.15, for a total value of $1,601,500.00. Following the sale, the chief executive officer now owns 79,748 shares of the company’s stock, valued at approximately $12,771,642.20. The disclosure for this sale can be found here. Insiders sold 30,598 shares of company stock valued at $4,572,263 over the last 90 days. 2.72% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Crocs

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of Crocs by 1.4% in the first quarter. Vanguard Group Inc. now owns 5,572,643 shares of the textile maker’s stock worth $801,346,000 after buying an additional 76,460 shares during the period. WIT Partners Advisory Pte. Ltd. acquired a new position in Crocs in the 4th quarter worth approximately $266,431,000. Pacer Advisors Inc. grew its position in Crocs by 15.1% during the 2nd quarter. Pacer Advisors Inc. now owns 1,091,097 shares of the textile maker’s stock worth $159,235,000 after purchasing an additional 142,944 shares in the last quarter. Coatue Management LLC raised its stake in Crocs by 836.7% during the 4th quarter. Coatue Management LLC now owns 1,029,765 shares of the textile maker’s stock valued at $96,190,000 after purchasing an additional 919,835 shares during the period. Finally, Thrivent Financial for Lutherans lifted its holdings in shares of Crocs by 1.3% in the second quarter. Thrivent Financial for Lutherans now owns 901,973 shares of the textile maker’s stock valued at $131,634,000 after purchasing an additional 11,986 shares in the last quarter. Hedge funds and other institutional investors own 93.44% of the company’s stock.

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.