Shares of Crocs, Inc. (NASDAQ:CROX) have earned a consensus recommendation of “Hold” from the nine brokerages that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $8.25.
Several brokerages recently issued reports on CROX. ValuEngine upgraded shares of Crocs from a “sell” rating to a “hold” rating in a research report on Friday. B. Riley reissued a “neutral” rating and set a $8.00 price objective on shares of Crocs in a research note on Monday, May 8th. Piper Jaffray Companies reissued a “hold” rating and set a $9.00 price objective on shares of Crocs in a research note on Wednesday. Susquehanna Bancshares Inc reissued a “positive” rating and set a $8.00 price objective (up previously from $7.00) on shares of Crocs in a research note on Thursday. Finally, BidaskClub lowered shares of Crocs from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th.
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Crocs (NASDAQ CROX) opened at 8.90 on Friday. Crocs has a 52-week low of $5.93 and a 52-week high of $9.16. The company’s market cap is $659.35 million. The stock’s 50 day moving average is $7.77 and its 200-day moving average is $7.00.
Crocs (NASDAQ:CROX) last announced its quarterly earnings results on Wednesday, August 9th. The textile maker reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.12. Crocs had a negative net margin of 0.91% and a negative return on equity of 3.36%. The company had revenue of $313.20 million for the quarter, compared to analysts’ expectations of $311.33 million. During the same quarter in the previous year, the company earned $0.16 earnings per share. Crocs’s quarterly revenue was down 3.3% on a year-over-year basis. Equities research analysts predict that Crocs will post ($0.04) EPS for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the company. Nationwide Fund Advisors increased its position in shares of Crocs by 18.7% in the second quarter. Nationwide Fund Advisors now owns 50,548 shares of the textile maker’s stock valued at $390,000 after buying an additional 7,979 shares in the last quarter. GRT Capital Partners L.L.C. purchased a new position in shares of Crocs during the second quarter valued at about $131,000. TIAA CREF Investment Management LLC increased its position in shares of Crocs by 39.0% in the second quarter. TIAA CREF Investment Management LLC now owns 278,804 shares of the textile maker’s stock valued at $2,150,000 after buying an additional 78,188 shares in the last quarter. Teachers Advisors LLC increased its position in shares of Crocs by 17.5% in the second quarter. Teachers Advisors LLC now owns 140,509 shares of the textile maker’s stock valued at $1,083,000 after buying an additional 20,896 shares in the last quarter. Finally, Alliancebernstein L.P. increased its position in shares of Crocs by 1.4% in the second quarter. Alliancebernstein L.P. now owns 7,115,223 shares of the textile maker’s stock valued at $54,858,000 after buying an additional 101,085 shares in the last quarter. Hedge funds and other institutional investors own 90.18% of the company’s stock.
Crocs Company Profile
Crocs, Inc is engaged in the design, development, manufacturing, marketing, distribution and sale of casual lifestyle footwear and accessories for men, women, and children. The Company’s segments include Americas, Asia Pacific and Europe. Its products include footwear and accessories that utilize its closed-cell resin, called Croslite, as well as casual lifestyle footwear that use a range of materials.
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