B. Riley Increases Crocs (NASDAQ:CROX) Price Target to $87.00

Crocs (NASDAQ:CROX) had its price objective upped by stock analysts at B. Riley from $72.00 to $87.00 in a research note issued on Tuesday, The Fly reports. The brokerage currently has a “buy” rating on the textile maker’s stock. B. Riley’s price target would indicate a potential upside of 13.93% from the stock’s previous close. B. Riley also issued estimates for Crocs’ FY2020 earnings at $2.73 EPS, Q3 2021 earnings at $1.07 EPS and Q4 2021 earnings at $0.64 EPS.

Several other brokerages have also recently weighed in on CROX. UBS Group upped their price target on Crocs from $48.00 to $57.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 28th. Loop Capital upped their price target on Crocs from $60.00 to $75.00 in a report on Wednesday, December 9th. Piper Sandler increased their target price on Crocs from $71.00 to $90.00 and gave the company an “overweight” rating in a report on Tuesday. BidaskClub cut Crocs from a “strong-buy” rating to a “buy” rating in a research report on Monday, December 28th. Finally, Monness Crespi & Hardt upped their price target on Crocs from $45.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, October 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $72.50.

Shares of CROX opened at $76.36 on Tuesday. The business has a 50-day moving average of $64.03 and a 200 day moving average of $48.92. Crocs has a fifty-two week low of $8.40 and a fifty-two week high of $78.68. The firm has a market cap of $5.15 billion, a P/E ratio of 34.87, a price-to-earnings-growth ratio of 1.51 and a beta of 1.77. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.07 and a current ratio of 1.70.

Crocs (NASDAQ:CROX) last released its earnings results on Sunday, November 1st. The textile maker reported $0.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.24. The company had revenue of $361.70 million during the quarter, compared to the consensus estimate of $343.98 million. Crocs had a return on equity of 102.93% and a net margin of 12.08%. Crocs’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.57 EPS. As a group, research analysts predict that Crocs will post 2.65 earnings per share for the current fiscal year.

In other news, CFO Anne Mehlman sold 2,082 shares of the business’s stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $55.00, for a total transaction of $114,510.00. Following the transaction, the chief financial officer now directly owns 98,891 shares in the company, valued at approximately $5,439,005. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Andrew Rees sold 31,552 shares of the business’s stock in a transaction that occurred on Thursday, October 29th. The stock was sold at an average price of $54.00, for a total value of $1,703,808.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 92,040 shares of company stock valued at $5,744,560. 2.32% of the stock is owned by company insiders.

Several institutional investors have recently modified their holdings of CROX. FMR LLC raised its position in shares of Crocs by 153.2% during the 2nd quarter. FMR LLC now owns 4,812,524 shares of the textile maker’s stock valued at $177,197,000 after buying an additional 2,912,057 shares during the period. Samlyn Capital LLC purchased a new stake in shares of Crocs during the 3rd quarter valued at approximately $66,841,000. Lord Abbett & CO. LLC purchased a new stake in shares of Crocs during the 3rd quarter valued at approximately $44,824,000. Scopus Asset Management L.P. raised its position in shares of Crocs by 52.7% during the 3rd quarter. Scopus Asset Management L.P. now owns 1,564,672 shares of the textile maker’s stock valued at $66,858,000 after buying an additional 539,672 shares during the period. Finally, Wedge Capital Management L L P NC purchased a new stake in shares of Crocs during the 4th quarter valued at approximately $28,112,000. Institutional investors and hedge funds own 95.34% of the company’s stock.

About Crocs

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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