Piper Jaffray Companies reissued their hold rating on shares of Crocs, Inc. (NASDAQ:CROX) in a report issued on Friday morning. Piper Jaffray Companies currently has a $7.00 target price on the textile maker’s stock.
A number of other research firms have also issued reports on CROX. B. Riley reaffirmed a neutral rating and issued a $8.00 target price on shares of Crocs in a research note on Saturday, May 13th. BidaskClub lowered Crocs from a buy rating to a hold rating in a research note on Wednesday, July 12th. Zacks Investment Research lowered Crocs from a hold rating to a strong sell rating in a research note on Tuesday, May 9th. Susquehanna Bancshares Inc reaffirmed a neutral rating and issued a $7.00 target price (up previously from $6.00) on shares of Crocs in a research note on Friday, May 12th. Finally, TheStreet raised Crocs from a d rating to a c- rating in a research note on Wednesday, June 21st. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $8.25.
Crocs (NASDAQ CROX) traded down 0.40% during midday trading on Friday, hitting $7.51. The company had a trading volume of 863,330 shares. The stock’s market cap is $556.37 million. The stock’s 50-day moving average price is $6.99 and its 200-day moving average price is $6.84. Crocs has a 52-week low of $5.93 and a 52-week high of $12.31.
Crocs (NASDAQ:CROX) last announced its quarterly earnings results on Wednesday, May 10th. The textile maker reported $0.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.08. The business had revenue of $267.90 million for the quarter, compared to analyst estimates of $258.10 million. Crocs had a negative return on equity of 4.89% and a negative net margin of 1.52%. The company’s quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.07 EPS. On average, equities research analysts expect that Crocs will post ($0.04) EPS for the current fiscal year.
A number of hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC boosted its position in Crocs by 141.5% in the fourth quarter. Renaissance Technologies LLC now owns 1,390,000 shares of the textile maker’s stock worth $9,535,000 after buying an additional 814,400 shares during the last quarter. Morgan Stanley boosted its position in Crocs by 37.6% in the first quarter. Morgan Stanley now owns 1,327,853 shares of the textile maker’s stock worth $9,388,000 after buying an additional 362,712 shares during the last quarter. Norges Bank purchased a new position in Crocs during the fourth quarter worth $2,463,000. Vanguard Group Inc. boosted its position in Crocs by 4.1% in the first quarter. Vanguard Group Inc. now owns 6,437,469 shares of the textile maker’s stock worth $45,513,000 after buying an additional 253,305 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Crocs by 9.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,594,913 shares of the textile maker’s stock worth $18,346,000 after buying an additional 220,190 shares during the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.
About Crocs
Crocs, Inc is engaged in the design, development, manufacturing, marketing, distribution and sale of casual lifestyle footwear and accessories for men, women, and children. The Company’s segments include Americas, Asia Pacific and Europe. Its products include footwear and accessories that utilize its closed-cell resin, called Croslite, as well as casual lifestyle footwear that use a range of materials.
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