Crocs (NASDAQ:CROX) Upgraded at Piper Jaffray Companies

Piper Jaffray Companies upgraded shares of Crocs (NASDAQ:CROX) from a neutral rating to an overweight rating in a research note released on Monday, 24/7 WallStreet reports. Piper Jaffray Companies currently has $27.00 target price on the textile maker’s stock, up from their prior target price of $22.00.

Other equities analysts also recently issued reports about the stock. Zacks Investment Research raised shares of DLH from a sell rating to a hold rating in a report on Tuesday, July 9th. CL King raised shares of Crocs from a neutral rating to a buy rating in a report on Thursday, June 27th. ValuEngine downgraded shares of Yext from a strong-buy rating to a buy rating in a research note on Friday, May 10th. Robert W. Baird dropped their target price on shares of Micron Technology from $32.00 to $28.00 and set an underperform rating for the company in a research note on Friday, June 21st. Finally, BidaskClub raised shares of ZIOPHARM Oncology from a buy rating to a strong-buy rating in a research note on Monday, June 17th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Crocs currently has an average rating of Buy and an average target price of $29.47.

Shares of CROX stock opened at $22.55 on Monday. Crocs has a 12-month low of $16.26 and a 12-month high of $31.88. The company has a market cap of $1.62 billion, a P/E ratio of 26.22, a P/E/G ratio of 1.21 and a beta of 0.92. The company’s 50-day moving average price is $19.76. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 2.77.

Crocs (NASDAQ:CROX) last announced its quarterly earnings results on Tuesday, May 7th. The textile maker reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.11. Crocs had a net margin of 4.97% and a return on equity of 35.81%. The firm had revenue of $295.95 million during the quarter, compared to the consensus estimate of $288.72 million. During the same period last year, the firm posted $0.15 EPS. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. As a group, equities research analysts predict that Crocs will post 1.25 earnings per share for the current year.

Crocs declared that its Board of Directors has authorized a share buyback program on Tuesday, May 7th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the textile maker to repurchase up to 25.8% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Large investors have recently modified their holdings of the company. Signaturefd LLC acquired a new stake in shares of Crocs during the 1st quarter worth approximately $29,000. FMR LLC grew its position in shares of Crocs by 54.2% during the 1st quarter. FMR LLC now owns 2,846 shares of the textile maker’s stock worth $73,000 after buying an additional 1,000 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Crocs by 26.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,282 shares of the textile maker’s stock worth $85,000 after buying an additional 679 shares during the period. Meeder Asset Management Inc. grew its position in shares of Crocs by 24.9% during the 1st quarter. Meeder Asset Management Inc. now owns 5,113 shares of the textile maker’s stock worth $130,000 after buying an additional 1,019 shares during the period. Finally, NumerixS Investment Technologies Inc grew its position in shares of Crocs by 277.3% during the 1st quarter. NumerixS Investment Technologies Inc now owns 6,414 shares of the textile maker’s stock worth $168,000 after buying an additional 4,714 shares during the period. Institutional investors own 97.21% of the company’s stock.

Crocs Company Profile

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

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Analyst Recommendations for Crocs (NASDAQ:CROX)

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