Copper Rock Capital Partners LLC bought a new stake in Crocs, Inc. (NASDAQ:CROX) in the 3rd quarter, Holdings Channel.com reports. The fund bought 625,119 shares of the textile maker’s stock, valued at approximately $17,188,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its position in shares of Crocs by 15.4% during the second quarter. Renaissance Technologies LLC now owns 3,855,300 shares of the textile maker’s stock worth $76,142,000 after acquiring an additional 513,900 shares during the last quarter. D. E. Shaw & Co. Inc. raised its position in shares of Crocs by 14.7% during the second quarter. D. E. Shaw & Co. Inc. now owns 2,700,960 shares of the textile maker’s stock worth $53,344,000 after acquiring an additional 345,547 shares during the last quarter. Marshall Wace LLP raised its position in shares of Crocs by 11.9% during the second quarter. Marshall Wace LLP now owns 1,946,842 shares of the textile maker’s stock worth $38,450,000 after acquiring an additional 207,378 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Crocs by 114.8% during the second quarter. Wells Fargo & Company MN now owns 681,739 shares of the textile maker’s stock worth $13,464,000 after acquiring an additional 364,308 shares during the last quarter. Finally, Marshall Wace North America L.P. raised its position in shares of Crocs by 47.2% during the second quarter. Marshall Wace North America L.P. now owns 670,698 shares of the textile maker’s stock worth $13,247,000 after acquiring an additional 215,100 shares during the last quarter.
A number of equities research analysts have recently weighed in on CROX shares. ValuEngine downgraded Crocs from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Robert W. Baird upgraded Crocs from a “neutral” rating to an “outperform” rating and set a $29.00 target price for the company in a research report on Friday, June 21st. Piper Jaffray Companies boosted their target price on Crocs from $32.00 to $34.00 and gave the stock an “overweight” rating in a research report on Tuesday. Susquehanna Bancshares boosted their target price on Crocs from $35.00 to $38.00 and gave the stock a “positive” rating in a research report on Friday, August 2nd. Finally, Stifel Nicolaus boosted their target price on Crocs from $21.00 to $23.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $31.86.
NASDAQ CROX traded down $0.12 on Thursday, reaching $30.37. The company had a trading volume of 39,263 shares, compared to its average volume of 1,215,888. The stock’s 50 day moving average is $26.17 and its 200-day moving average is $23.95. The stock has a market cap of $2.02 billion, a price-to-earnings ratio of 35.44 and a beta of 0.96. The company has a quick ratio of 1.22, a current ratio of 1.74 and a debt-to-equity ratio of 3.03. Crocs, Inc. has a 52 week low of $17.52 and a 52 week high of $31.88.
Crocs (NASDAQ:CROX) last released its quarterly earnings data on Thursday, August 1st. The textile maker reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.07. The business had revenue of $358.90 million during the quarter, compared to the consensus estimate of $360.46 million. Crocs had a return on equity of 47.15% and a net margin of 5.61%. The firm’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.35 earnings per share. As a group, analysts forecast that Crocs, Inc. will post 1.44 EPS for the current year.
In related news, Director Doreen A. Wright sold 7,068 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $26.00, for a total value of $183,768.00. Following the completion of the sale, the director now owns 55,680 shares in the company, valued at $1,447,680. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.42% of the company’s stock.
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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