Crocs (NASDAQ:CROX) Price Target Increased to $148.00 by Analysts at UBS Group

Crocs (NASDAQ:CROX) had its price target upped by analysts at UBS Group from $124.00 to $148.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the textile maker’s stock. UBS Group’s target price would suggest a potential upside of 10.12% from the company’s previous close.

Several other brokerages have also recently issued reports on CROX. Barclays assumed coverage on shares of Crocs in a research note on Monday, April 1st. They set an “overweight” rating and a $167.00 price objective for the company. Wedbush reiterated an “outperform” rating and issued a $154.00 target price on shares of Crocs in a report on Friday, May 3rd. Monness Crespi & Hardt boosted their target price on shares of Crocs from $140.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday. Bank of America boosted their target price on shares of Crocs from $140.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Finally, KeyCorp boosted their target price on shares of Crocs from $130.00 to $149.00 and gave the company an “overweight” rating in a report on Thursday, March 21st. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $150.25.

Crocs Price Performance

Shares of CROX stock traded down $2.09 on Wednesday, reaching $134.40. 72,150 shares of the company were exchanged, compared to its average volume of 1,410,411. Crocs has a 1 year low of $74.00 and a 1 year high of $146.79. The company has a market cap of $8.16 billion, a price-to-earnings ratio of 10.49, a P/E/G ratio of 1.56 and a beta of 2.03. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.75 and a current ratio of 1.30. The business has a 50-day moving average price of $129.57 and a 200 day moving average price of $109.82.

Crocs (NASDAQ:CROX) last announced its quarterly earnings data on Tuesday, May 7th. The textile maker reported $3.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.25 by $0.77. Crocs had a net margin of 20.00% and a return on equity of 61.97%. The company had revenue of $938.60 million during the quarter, compared to analysts’ expectations of $884.29 million. During the same quarter in the prior year, the company earned $2.61 EPS. Crocs’s revenue was up 6.2% compared to the same quarter last year. Equities research analysts forecast that Crocs will post 12.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Crocs news, Director Ian Bickley sold 16,785 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $120.05, for a total transaction of $2,015,039.25. Following the transaction, the director now directly owns 31,815 shares in the company, valued at approximately $3,819,390.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, President Michelle Poole sold 4,793 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $119.15, for a total transaction of $571,085.95. Following the completion of the transaction, the president now owns 64,912 shares in the company, valued at approximately $7,734,264.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Ian Bickley sold 16,785 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $120.05, for a total transaction of $2,015,039.25. Following the transaction, the director now owns 31,815 shares of the company’s stock, valued at approximately $3,819,390.75. The disclosure for this sale can be found here. Insiders sold a total of 39,867 shares of company stock worth $4,786,276 over the last ninety days. 2.72% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Riverwater Partners LLC grew its position in Crocs by 1.0% during the first quarter. Riverwater Partners LLC now owns 10,725 shares of the textile maker’s stock valued at $1,542,000 after purchasing an additional 104 shares in the last quarter. Byrne Asset Management LLC grew its position in Crocs by 60.0% during the fourth quarter. Byrne Asset Management LLC now owns 320 shares of the textile maker’s stock valued at $30,000 after purchasing an additional 120 shares in the last quarter. Quadrant Capital Group LLC grew its position in Crocs by 12.3% during the fourth quarter. Quadrant Capital Group LLC now owns 1,151 shares of the textile maker’s stock valued at $108,000 after purchasing an additional 126 shares in the last quarter. Fifth Third Bancorp lifted its stake in Crocs by 3.2% in the first quarter. Fifth Third Bancorp now owns 4,060 shares of the textile maker’s stock valued at $584,000 after acquiring an additional 127 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its stake in shares of Crocs by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 26,720 shares of the textile maker’s stock worth $2,358,000 after buying an additional 140 shares during the last quarter. 93.44% of the stock is owned by hedge funds and other institutional investors.

About Crocs

Crocs, Inc, together with its subsidiaries, designs, develops, manufactures, markets, distributes, and sells casual lifestyle footwear and accessories for men, women, and children under Crocs and HEYDUDE Brand in the United States and internationally. The company offers various footwear products, including clogs, sandals, slides, flips, wedges, platforms, socks, boots, charms, flip flops, sneakers, and slippers.