Analysts Set Crocs, Inc. (CROX) PT at $14.17

Shares of Crocs, Inc. (NASDAQ:CROX) have earned an average rating of “Hold” from the eleven brokerages that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, five have given a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $14.17.

Several equities research analysts have recently commented on the stock. Piper Jaffray Companies set a $20.00 target price on shares of Crocs and gave the stock a “buy” rating in a research report on Friday, June 1st. BidaskClub raised shares of Crocs from a “hold” rating to a “buy” rating in a research report on Friday, June 1st. Zacks Investment Research raised shares of Crocs from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 9th. Stifel Nicolaus cut shares of Crocs from a “buy” rating to a “hold” rating and raised their target price for the stock from $16.00 to $17.00 in a research report on Wednesday, May 9th. Finally, Pivotal Research set a $15.00 target price on shares of Crocs and gave the stock a “hold” rating in a research report on Tuesday, May 8th.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Wells Fargo & Company MN lifted its position in Crocs by 3.3% during the 1st quarter. Wells Fargo & Company MN now owns 108,290 shares of the textile maker’s stock valued at $1,760,000 after acquiring an additional 3,487 shares during the period. Prudential Financial Inc. lifted its position in Crocs by 4.3% during the 1st quarter. Prudential Financial Inc. now owns 118,765 shares of the textile maker’s stock valued at $1,930,000 after acquiring an additional 4,950 shares during the period. MetLife Investment Advisors LLC lifted its position in Crocs by 18.8% during the 1st quarter. MetLife Investment Advisors LLC now owns 31,969 shares of the textile maker’s stock valued at $519,000 after acquiring an additional 5,056 shares during the period. UBS Asset Management Americas Inc. lifted its position in Crocs by 13.9% during the 4th quarter. UBS Asset Management Americas Inc. now owns 48,695 shares of the textile maker’s stock valued at $616,000 after acquiring an additional 5,949 shares during the period. Finally, Sei Investments Co. lifted its position in Crocs by 151.1% during the 1st quarter. Sei Investments Co. now owns 16,759 shares of the textile maker’s stock valued at $273,000 after acquiring an additional 10,085 shares during the period. 98.45% of the stock is owned by institutional investors.

Shares of Crocs opened at $18.66 on Monday, MarketBeat Ratings reports. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of -933.00, a PEG ratio of 4.77 and a beta of 0.30. Crocs has a 12-month low of $7.14 and a 12-month high of $19.54.

Crocs (NASDAQ:CROX) last posted its earnings results on Tuesday, May 8th. The textile maker reported $0.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.02. Crocs had a net margin of 1.51% and a return on equity of 8.10%. The firm had revenue of $283.15 million during the quarter, compared to analysts’ expectations of $272.21 million. During the same period last year, the company posted $0.08 EPS. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. equities analysts expect that Crocs will post 0.26 earnings per share for the current year.

Crocs declared that its Board of Directors has initiated a share repurchase plan on Wednesday, February 28th that allows the company to buyback $431.00 million in shares. This buyback authorization allows the textile maker to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Crocs Company Profile

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.

Analyst Recommendations for Crocs (NASDAQ:CROX)

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