According to Zacks, “Crocs, Inc. is a rapidly growing designer, manufacturer and marketer of footwear for men, women and children under the CROCS brand. All of the Company’s footwear products incorporate its proprietary closed-cell resin material, which the Company believes represents a substantial innovation in footwear comfort and functionality. The Company’s proprietary closed-cell resin, which it refers to as Croslite enables Crocs to produce a soft and lightweight, non-marking, slip and odor-resistant shoe. These unique properties make the Company’s footwear ideal for casual wear, as well as for recreational uses such as boating, hiking, fishing and gardening, and have enabled Crocs to successfully market its products to a broad range of consumers. “
Several other equities analysts have also weighed in on the company. B. Riley reissued a neutral rating and set a $10.00 price objective on shares of Crocs in a report on Tuesday, August 2nd. Monness Crespi & Hardt reduced their price objective on Crocs from $13.00 to $11.00 and set a buy rating for the company in a report on Thursday, August 4th. Piper Jaffray Cos. reissued a neutral rating and set a $8.00 price objective (down from $10.00) on shares of Crocs in a report on Thursday, August 4th. Finally, Susquehanna began coverage on Crocs in a report on Friday, August 12th. They set a neutral rating and a $9.50 price objective for the company. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Crocs presently has a consensus rating of Hold and a consensus target price of $11.00.
Crocs (NASDAQ:CROX) opened at 8.389 on Tuesday. The company’s market cap is $616.47 million. Crocs has a 12-month low of $7.63 and a 12-month high of $12.54. The company has a 50-day moving average price of $8.51 and a 200 day moving average price of $9.57.
Crocs (NASDAQ:CROX) last released its earnings results on Wednesday, August 3rd. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by $0.06. The business earned $323.80 million during the quarter, compared to the consensus estimate of $348.46 million. Crocs had a negative net margin of 6.31% and a negative return on equity of 16.50%. The business’s revenue was down 6.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.11 earnings per share. On average, analysts forecast that Crocs will post ($0.03) EPS for the current fiscal year.
In other Crocs news, CFO Carrie W. Teffner acquired 7,500 shares of the stock in a transaction that occurred on Wednesday, August 24th. The shares were bought at an average price of $8.85 per share, for a total transaction of $66,375.00. Following the completion of the transaction, the chief financial officer now owns 349,188 shares of the company’s stock, valued at approximately $3,090,313.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.00% of the stock is owned by corporate insiders.
Several large investors have recently modified their holdings of CROX. PineBridge Investments L.P. increased its stake in shares of Crocs by 7.5% in the second quarter. PineBridge Investments L.P. now owns 9,303 shares of the company’s stock worth $105,000 after buying an additional 647 shares during the period. Public Employees Retirement System of Ohio increased its stake in shares of Crocs by 14.8% in the second quarter. Public Employees Retirement System of Ohio now owns 9,506 shares of the company’s stock worth $107,000 after buying an additional 1,229 shares during the period. Geduld E E acquired a new stake in shares of Crocs during the second quarter worth about $113,000. Teacher Retirement System of Texas increased its stake in shares of Crocs by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 10,314 shares of the company’s stock worth $116,000 after buying an additional 1,247 shares during the period. Finally, Hsbc Holdings PLC increased its stake in shares of Crocs by 6.8% in the second quarter. Hsbc Holdings PLC now owns 11,350 shares of the company’s stock worth $128,000 after buying an additional 722 shares during the period. Institutional investors own 99.81% of the company’s stock.
Crocs Company Profile
Crocs, Inc is engaged in the design, development, manufacturing, across the world marketing and distribution of casual lifestyle footwear and accessories for men, women and children. The Company’s segments include Americas, Asia Pacific and Europe. The Americas segment consists of the product sales in the North and South America geographic regions.
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