Crocs (NASDAQ:CROX) Sets New 12-Month High – Here’s What Happened

Shares of Crocs, Inc. (NASDAQ:CROX) reached a new 52-week high on Friday. The stock traded as high as $162.27 and last traded at $162.19, with a volume of 387,601 shares. The stock had previously closed at $156.88.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CROX shares. Monness Crespi & Hardt increased their price target on Crocs from $130.00 to $160.00 and gave the company a “buy” rating in a report on Friday, July 31st. Zacks Research raised Crocs from a “hold” rating to a “strong-buy” rating in a report on Friday, October 30th. Bank of America raised their target price on Crocs from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. BTIG Research reaffirmed a “neutral” rating on shares of Crocs in a research report on Thursday, October 29th. Finally, Seaport Research Partners increased their price target on shares of Crocs from $135.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $158.30.

Crocs Trading Up 3.7%

The firm has a market capitalization of $7.44 billion, a P/E ratio of 12.15, a price-to-earnings-growth ratio of 1.27 and a beta of 1.49. The stock’s 50-day simple moving average is $126.77 and its two-hundred day simple moving average is $112.98. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.44 and a quick ratio of 0.86.

Crocs (NASDAQ:CROX) last announced its quarterly earnings data on Thursday, October 29th. The textile maker reported $3.69 EPS for the quarter, beating the consensus estimate of $3.31 by $0.38. Crocs had a net margin of 16.20% and a return on equity of 49.35%. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1 billion. During the same period last year, the firm earned $2.92 EPS. The company’s revenue was up 4.7% on a year-over-year basis. Equities research analysts expect that Crocs, Inc. will post 14.62 EPS for the current year.

Insiders Place Their Bets

In other Crocs news, Director Douglas Treff sold 10,714 shares of the firm’s stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $159.21, for a total transaction of $1,705,775.94. Following the sale, the director directly owned 61,371 shares of the company’s stock, valued at $9,770,876.91. This trade represents a 14.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Rupert George Campbell sold 2,645 shares of the firm’s stock in a transaction dated Friday, October 30th. The shares were sold at an average price of $150.87, for a total value of $399,051.15. Following the sale, the executive vice president directly owned 68,573 shares in the company, valued at approximately $10,345,608.51. This represents a 3.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 83,161 shares of company stock worth $12,775,941 in the last three months. 3.10% of the stock is owned by company insiders.

Institutional Trading of Crocs

Several institutional investors and hedge funds have recently added to or reduced their stakes in CROX. Root Financial Partners LLC purchased a new position in Crocs during the third quarter valued at $28,000. Versant Capital Management Inc lifted its position in shares of Crocs by 95.9% in the third quarter. Versant Capital Management Inc now owns 290 shares of the textile maker’s stock worth $34,000 after buying an additional 142 shares in the last quarter. Global Retirement Partners LLC purchased a new stake in shares of Crocs in the second quarter worth about $42,000. Heritage Family Offices LLP purchased a new stake in shares of Crocs in the third quarter worth about $45,000. Finally, Allworth Financial LP bought a new position in Crocs during the second quarter valued at approximately $53,000. Institutional investors own 93.44% of the company’s stock.

About Crocs

Crocs, Inc. designs, markets and distributes casual footwear and related accessories. Its products include clogs, sandals, shoes and boots, with customizable Jibbitz charms among its accessories. The company sells products under the Crocs and HEYDUDE brands. Founded in 2002, Crocs became known for its lightweight molded clogs. It expanded its portfolio with the acquisition of casual footwear brand HEYDUDE in 2022. Crocs serves consumers worldwide through wholesale partners, retail stores and e-commerce.