Crocs (NASDAQ:CROX) Issues Earnings Results

Crocs (NASDAQ:CROX) released its earnings results on Thursday. The textile maker reported $4.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.59 by $0.42, Briefing.com reports. Crocs had a return on equity of 56.33% and a net margin of 19.80%. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter last year, the firm posted $3.59 EPS. The company’s revenue was up 3.6% on a year-over-year basis.

Crocs Trading Down 5.7 %

CROX stock traded down $7.50 during trading on Friday, reaching $123.31. The company had a trading volume of 2,195,155 shares, compared to its average volume of 1,385,399. Crocs has a 52 week low of $74.00 and a 52 week high of $165.32. The company has a market cap of $7.48 billion, a P/E ratio of 9.42, a PEG ratio of 1.49 and a beta of 2.00. The business has a 50 day moving average of $145.52 and a 200 day moving average of $131.10. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.76 and a quick ratio of 1.14.

Insider Buying and Selling

In other Crocs news, EVP Anne Mehlman sold 7,150 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $159.01, for a total transaction of $1,136,921.50. Following the completion of the transaction, the executive vice president now owns 143,075 shares of the company’s stock, valued at $22,750,355.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Anne Mehlman sold 7,150 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $159.01, for a total value of $1,136,921.50. Following the sale, the executive vice president now owns 143,075 shares in the company, valued at $22,750,355.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew Rees sold 10,000 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $160.15, for a total transaction of $1,601,500.00. Following the completion of the transaction, the chief executive officer now owns 79,748 shares in the company, valued at $12,771,642.20. The disclosure for this sale can be found here. Insiders sold a total of 30,178 shares of company stock valued at $4,597,445 over the last three months. Corporate insiders own 2.72% of the company’s stock.

Wall Street Analyst Weigh In

CROX has been the topic of several recent analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $170.00 price target on shares of Crocs in a research note on Monday. Raymond James lowered Crocs from a “strong-buy” rating to an “outperform” rating and set a $164.00 price target on the stock. in a research note on Friday. Bank of America boosted their price target on Crocs from $160.00 to $187.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. OTR Global upgraded Crocs from a “mixed” rating to a “positive” rating in a research report on Thursday, April 11th. Finally, UBS Group cut their price objective on Crocs from $148.00 to $146.00 and set a “neutral” rating for the company in a research report on Tuesday, July 16th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $154.09.

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.