Crocs (NASDAQ:CROX) Shares Gap Up to $140.60

Crocs, Inc. (NASDAQ:CROX) shares gapped up before the market opened on Thursday . The stock had previously closed at $140.60, but opened at $144.41. Crocs shares last traded at $144.79, with a volume of 125,818 shares traded.

Analyst Upgrades and Downgrades

A number of analysts have commented on CROX shares. Raymond James downgraded shares of Crocs from a “strong-buy” rating to an “outperform” rating and set a $164.00 price objective for the company. in a report on Friday, August 2nd. UBS Group reduced their price objective on Crocs from $148.00 to $146.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 16th. Wedbush restated an “outperform” rating and issued a $170.00 target price on shares of Crocs in a report on Monday, July 29th. Barclays cut their target price on Crocs from $169.00 to $164.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Finally, Monness Crespi & Hardt upped their price objective on shares of Crocs from $140.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Crocs has a consensus rating of “Moderate Buy” and an average target price of $157.55.

Crocs Trading Up 2.1 %

The company has a market cap of $8.72 billion, a PE ratio of 10.88, a price-to-earnings-growth ratio of 1.45 and a beta of 2.00. The company’s 50 day simple moving average is $140.17 and its two-hundred day simple moving average is $134.24. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.50 and a quick ratio of 1.14.

Crocs (NASDAQ:CROX) last issued its quarterly earnings data on Thursday, August 1st. The textile maker reported $4.01 EPS for the quarter, topping the consensus estimate of $3.59 by $0.42. Crocs had a net margin of 20.02% and a return on equity of 53.20%. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period in the prior year, the business posted $3.59 EPS. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Crocs, Inc. will post 12.73 EPS for the current fiscal year.

Insider Activity

In other Crocs news, EVP Shannon Sisler sold 1,404 shares of Crocs stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $149.96, for a total value of $210,543.84. Following the completion of the transaction, the executive vice president now directly owns 37,103 shares of the company’s stock, valued at approximately $5,563,965.88. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, EVP Shannon Sisler sold 1,404 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $149.96, for a total transaction of $210,543.84. Following the sale, the executive vice president now directly owns 37,103 shares of the company’s stock, valued at approximately $5,563,965.88. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Douglas J. Treff sold 10,594 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $132.38, for a total transaction of $1,402,433.72. Following the completion of the transaction, the director now directly owns 81,254 shares of the company’s stock, valued at approximately $10,756,404.52. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,598 shares of company stock valued at $4,572,263. 2.72% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Crocs

A number of institutional investors and hedge funds have recently made changes to their positions in CROX. V Square Quantitative Management LLC acquired a new position in shares of Crocs during the first quarter worth $25,000. Rise Advisors LLC purchased a new stake in Crocs during the 1st quarter worth about $25,000. GHP Investment Advisors Inc. boosted its position in shares of Crocs by 375.0% during the 2nd quarter. GHP Investment Advisors Inc. now owns 228 shares of the textile maker’s stock worth $33,000 after acquiring an additional 180 shares in the last quarter. Quest Partners LLC purchased a new position in shares of Crocs in the 4th quarter valued at about $53,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of Crocs during the 4th quarter worth about $56,000. 93.44% of the stock is owned by institutional investors and hedge funds.

Crocs Company Profile

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.