Brokerages Set Crocs, Inc. (NASDAQ:CROX) PT at $7.33

Crocs, Inc. (NASDAQ:CROX) has been assigned an average recommendation of “Hold” from the eight brokerages that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $7.50.

Several research firms have weighed in on CROX. Susquehanna Bancshares Inc reiterated a “neutral” rating and set a $7.00 target price (up from $6.00) on shares of Crocs in a report on Friday, May 12th. B. Riley reiterated a “neutral” rating and set a $8.00 target price on shares of Crocs in a report on Saturday, May 13th. TheStreet upgraded Crocs from a “d” rating to a “c-” rating in a report on Wednesday, June 21st. Piper Jaffray Companies reiterated a “hold” rating and set a $7.00 target price on shares of Crocs in a report on Friday, July 14th. Finally, BidaskClub lowered Crocs from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th.

Shares of Crocs (NASDAQ CROX) traded down 2.70% during midday trading on Friday, reaching $7.58. The company had a trading volume of 337,229 shares. The company’s 50-day moving average is $7.40 and its 200-day moving average is $6.90. The firm’s market cap is $561.56 million. Crocs has a 52-week low of $5.93 and a 52-week high of $11.74.

Crocs (NASDAQ:CROX) last posted its earnings results on Wednesday, May 10th. The textile maker reported $0.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.08. The firm 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 revenue for the quarter was down 4.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.07 earnings per share. Equities research analysts expect that Crocs will post ($0.04) EPS for the current fiscal year.

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Several hedge funds have recently modified their holdings of the stock. Capital Fund Management S.A. bought a new stake in Crocs during the first quarter valued at about $111,000. State of Alaska Department of Revenue raised its stake in Crocs by 79.0% in the second quarter. State of Alaska Department of Revenue now owns 14,623 shares of the textile maker’s stock valued at $112,000 after buying an additional 6,453 shares during the last quarter. Jane Street Group LLC bought a new stake in Crocs during the first quarter valued at about $113,000. Karp Capital Management Corp bought a new stake in Crocs during the first quarter valued at about $118,000. Finally, Teza Capital Management LLC bought a new stake in Crocs during the first quarter valued at about $122,000. Institutional investors own 90.90% of the company’s stock.

Crocs Company Profile

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.