Crocs, Inc. (NASDAQ:CROX)‘s stock had its “hold” rating reiterated by investment analysts at Stifel Nicolaus in a note issued to investors on Saturday, July 22nd. They currently have a $8.00 target price on the textile maker’s stock, up from their prior target price of $7.00. Stifel Nicolaus’ price target suggests a potential downside of 5.88% from the stock’s current price.
Other analysts have also issued research reports about the company. Piper Jaffray Companies reiterated a “hold” rating and issued a $7.00 target price on shares of Crocs in a research note on Friday, July 14th. BidaskClub lowered Crocs from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. TheStreet upgraded Crocs from a “d” rating to a “c-” rating in a research note on Wednesday, June 21st. Susquehanna Bancshares Inc reiterated 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, B. Riley reiterated a “neutral” rating and issued a $8.00 target price on shares of Crocs in a research note on Saturday, May 13th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $8.00.
Shares of Crocs (NASDAQ:CROX) opened at 8.50 on Friday. Crocs has a 12-month low of $5.93 and a 12-month high of $9.16. The company’s market cap is $629.71 million. The company has a 50-day moving average of $7.72 and a 200 day moving average of $6.98.
Crocs (NASDAQ:CROX) last issued its quarterly earnings results on Wednesday, August 9th. The textile maker reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.12. The company had revenue of $313.20 million during the quarter, compared to the consensus estimate of $311.33 million. Crocs had a negative return on equity of 4.89% and a negative net margin of 1.52%. Crocs’s revenue was down 3.3% on a year-over-year basis. During the same period last year, the company earned $0.16 earnings per share. On average, equities research analysts expect that Crocs will post ($0.04) EPS for the current year.
Several institutional investors have recently made changes to their positions in the stock. Louisiana State Employees Retirement System raised its position in shares of Crocs by 0.7% in the second quarter. Louisiana State Employees Retirement System now owns 30,200 shares of the textile maker’s stock valued at $233,000 after buying an additional 200 shares in the last quarter. Arizona State Retirement System raised its position in shares of Crocs by 0.5% in the second quarter. Arizona State Retirement System now owns 38,588 shares of the textile maker’s stock valued at $298,000 after buying an additional 200 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Crocs by 1.7% in the first quarter. BNP Paribas Arbitrage SA now owns 20,543 shares of the textile maker’s stock valued at $145,000 after buying an additional 336 shares in the last quarter. US Bancorp DE raised its position in shares of Crocs by 1.2% in the second quarter. US Bancorp DE now owns 33,293 shares of the textile maker’s stock valued at $257,000 after buying an additional 401 shares in the last quarter. Finally, Texas Permanent School Fund raised its position in shares of Crocs by 1.4% in the second quarter. Texas Permanent School Fund now owns 54,090 shares of the textile maker’s stock valued at $417,000 after buying an additional 737 shares in the last quarter. Hedge funds and other institutional investors own 90.18% 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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