Key Points
- Director Douglas Treff sold 10,714 Crocs shares at an average of $159.21, totaling about $1.71 million. After the sale, he held 61,371 shares, a 14.86% reduction in his position.
- Crocs reported quarterly earnings of $3.69 per share, beating the $3.31 analyst consensus; revenue of $1.04 billion also topped estimates and rose 4.7% year over year.
- Analysts give Crocs a Moderate Buy consensus rating, with an average price target of $158.30. Shares opened at $151.86 and had a 12-month range of $73.21 to $161.88.
Crocs, Inc. (NASDAQ:CROX - Get Free Report) Director Douglas Treff sold 10,714 shares of Crocs stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $159.21, for a total value of $1,705,775.94. Following the sale, the director directly owned 61,371 shares in the company, valued at approximately $9,770,876.91. This trade represents a 14.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Crocs Price Performance
Shares of Crocs stock opened at $151.86 on Friday. The firm has a market cap of $6.94 billion, a P/E ratio of 11.34, a price-to-earnings-growth ratio of 1.22 and a beta of 1.49. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.86 and a current ratio of 1.44. The firm's 50-day simple moving average is $123.51 and its 200-day simple moving average is $111.50. Crocs, Inc. has a twelve month low of $73.21 and a twelve month high of $161.88.
Crocs (NASDAQ:CROX - Get Free Report) last announced its quarterly earnings results on Thursday, October 29th. The textile maker reported $3.69 EPS for the quarter, beating analysts' consensus estimates of $3.31 by $0.38. Crocs had a net margin of 16.20% and a return on equity of 49.35%. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1 billion. During the same quarter in the prior year, the business earned $2.92 EPS. Crocs's quarterly revenue was up 4.7% on a year-over-year basis. As a group, research analysts expect that Crocs, Inc. will post 14.62 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
CROX has been the topic of a number of recent research reports. Weiss Ratings upgraded shares of Crocs from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, October 26th. Wall Street Zen raised Crocs from a "buy" rating to a "strong-buy" rating in a report on Sunday, November 1st. Robert W. Baird set a $163.00 price objective on Crocs in a research note on Friday, July 31st. Piper Sandler restated an "overweight" rating on shares of Crocs in a research note on Friday, October 30th. Finally, Seaport Research Partners lifted their target price on shares of Crocs from $135.00 to $160.00 and gave the company a "buy" rating in a research note on Monday, July 20th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Crocs has an average rating of "Moderate Buy" and an average target price of $158.30.
Read Our Latest Stock Report on CROX
Institutional Investors Weigh In On Crocs
A number of hedge funds have recently modified their holdings of CROX. Root Financial Partners LLC purchased a new position in Crocs in the 3rd quarter worth approximately $28,000. Versant Capital Management Inc lifted its position in Crocs by 95.9% in the third quarter. Versant Capital Management Inc now owns 290 shares of the textile maker's stock worth $34,000 after buying an additional 142 shares during the last quarter. Global Retirement Partners LLC bought a new stake in Crocs during the 2nd quarter valued at $42,000. Heritage Family Offices LLP acquired a new position in shares of Crocs in the third quarter valued at about $45,000. Finally, Allworth Financial LP acquired a new position in Crocs during the second quarter worth $53,000. Institutional investors own 93.44% of the company's stock.
About Crocs
(
Get Free Report)
Crocs, Inc is a global footwear company best known for its Crocs brand of casual, lightweight shoes. Its product portfolio includes clogs, sandals, slides, boots and other casual footwear, along with accessories such as Jibbitz charms, which are designed to personalize Crocs shoes.
The company was founded in 2002 and introduced its first clog that year. Crocs has expanded from its original molded footwear into a broader lifestyle brand, offering products for women, men and children through company-operated and third-party retail stores, e-commerce platforms and wholesale partners.
In 2022, Crocs completed its acquisition of HEYDUDE, adding the casual shoe brand to its portfolio.
Further Reading
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