Piper Sandler Raises Crocs (NASDAQ:CROX) Price Target to $185.00

Crocs (NASDAQ:CROX) had its price target upped by Piper Sandler from $143.00 to $185.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the textile maker’s stock. Piper Sandler’s target price would suggest a potential upside of 46.93% from the stock’s previous close.

Other analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Crocs from a “strong-buy” rating to a “hold” rating and set a $123.00 price target on the stock. in a report on Tuesday, June 29th. B. Riley lifted their price target on shares of Crocs from $113.00 to $132.00 and gave the company a “buy” rating in a report on Tuesday, June 29th. Monness Crespi & Hardt lifted their price objective on shares of Crocs from $91.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, April 28th. Loop Capital lifted their price objective on shares of Crocs from $95.00 to $130.00 in a research note on Wednesday, April 28th. Finally, Robert W. Baird lifted their price objective on shares of Crocs from $100.00 to $135.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 28th. They noted that the move was a valuation call. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $117.40.

Shares of CROX stock traded up $5.93 on Thursday, hitting $125.91. 112,781 shares of the stock traded hands, compared to its average volume of 918,647. The stock has a market cap of $8.21 billion, a price-to-earnings ratio of 21.38, a price-to-earnings-growth ratio of 1.33 and a beta of 1.84. Crocs has a 52 week low of $35.14 and a 52 week high of $120.92. The business has a 50 day moving average price of $108.84. The company has a current ratio of 2.23, a quick ratio of 1.63 and a debt-to-equity ratio of 1.05.

Crocs (NASDAQ:CROX) last announced its quarterly earnings data on Thursday, July 22nd. The textile maker reported $2.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.57 by $0.66. The firm had revenue of $640.77 million for the quarter, compared to the consensus estimate of $562.61 million. Crocs had a net margin of 25.57% and a return on equity of 121.70%. The company’s revenue was up 93.3% on a year-over-year basis. During the same period last year, the firm earned $1.01 EPS. Analysts forecast that Crocs will post 5.84 earnings per share for the current fiscal year.

In related news, Director Doreen A. Wright sold 500 shares of Crocs stock in a transaction dated Friday, June 11th. The shares were sold at an average price of $106.70, for a total transaction of $53,350.00. Following the completion of the sale, the director now owns 57,329 shares in the company, valued at approximately $6,117,004.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Doreen A. Wright sold 688 shares of Crocs stock in a transaction dated Monday, June 14th. The shares were sold at an average price of $113.00, for a total transaction of $77,744.00. Following the sale, the director now owns 57,329 shares of the company’s stock, valued at approximately $6,478,177. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 91,188 shares of company stock valued at $8,894,394. 2.42% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of CROX. Samlyn Capital LLC raised its holdings in shares of Crocs by 145.9% in the 1st quarter. Samlyn Capital LLC now owns 1,732,339 shares of the textile maker’s stock valued at $139,367,000 after purchasing an additional 1,027,797 shares in the last quarter. Norges Bank bought a new position in shares of Crocs during the 4th quarter worth approximately $51,847,000. Price T Rowe Associates Inc. MD raised its stake in shares of Crocs by 1,844.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 699,954 shares of the textile maker’s stock worth $56,311,000 after acquiring an additional 663,949 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Crocs by 70.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,483,518 shares of the textile maker’s stock worth $119,349,000 after acquiring an additional 614,245 shares in the last quarter. Finally, Morgan Stanley raised its stake in shares of Crocs by 270.8% during the 4th quarter. Morgan Stanley now owns 797,854 shares of the textile maker’s stock worth $49,993,000 after acquiring an additional 582,682 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

About Crocs

Crocs, Inc, together with its subsidiaries, designs, develops, manufactures, markets, and distributes casual lifestyle footwear and accessories for men, women, and children. It offers various footwear products, including sandals, wedges, flips, slides clogs, charms, and shoes under the Crocs brand name.

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Analyst Recommendations for Crocs (NASDAQ:CROX)

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