Needham & Company LLC Reaffirms “Buy” Rating for Crocs (NASDAQ:CROX)

Crocs (NASDAQ:CROX)‘s stock had its “buy” rating reissued by analysts at Needham & Company LLC in a research report issued on Thursday,Benzinga reports. They presently have a $129.00 price objective on the textile maker’s stock. Needham & Company LLC’s target price would indicate a potential upside of 21.93% from the stock’s current price.

Several other research firms have also weighed in on CROX. KeyCorp cut their target price on Crocs from $150.00 to $120.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. Robert W. Baird cut their price target on shares of Crocs from $180.00 to $150.00 and set an “outperform” rating on the stock in a research report on Monday. Guggenheim reduced their price objective on shares of Crocs from $155.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Raymond James downgraded shares of Crocs from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. Finally, UBS Group reduced their price target on shares of Crocs from $146.00 to $122.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $145.33.

Crocs Trading Up 19.1 %

Shares of NASDAQ CROX traded up $16.97 during mid-day trading on Thursday, hitting $105.80. The company’s stock had a trading volume of 4,329,827 shares, compared to its average volume of 1,542,615. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.90. The stock has a market cap of $6.17 billion, a price-to-earnings ratio of 7.66, a price-to-earnings-growth ratio of 1.67 and a beta of 1.93. The company’s fifty day simple moving average is $105.75 and its 200-day simple moving average is $119.68. Crocs has a one year low of $88.25 and a one year high of $165.32.

Crocs (NASDAQ:CROX) last released its earnings results on Thursday, February 13th. The textile maker reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.25. Crocs had a net margin of 20.50% and a return on equity of 49.70%. On average, sell-side analysts anticipate that Crocs will post 12.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Financial Management Professionals Inc. boosted its position in Crocs by 11,200.0% during the 3rd quarter. Financial Management Professionals Inc. now owns 226 shares of the textile maker’s stock worth $33,000 after acquiring an additional 224 shares during the last quarter. V Square Quantitative Management LLC increased its stake in Crocs by 83.0% in the 3rd quarter. V Square Quantitative Management LLC now owns 313 shares of the textile maker’s stock valued at $45,000 after buying an additional 142 shares during the last quarter. UMB Bank n.a. lifted its position in Crocs by 46.6% during the 4th quarter. UMB Bank n.a. now owns 447 shares of the textile maker’s stock worth $49,000 after buying an additional 142 shares in the last quarter. Allianz SE bought a new stake in Crocs during the 4th quarter worth about $53,000. Finally, Avior Wealth Management LLC boosted its stake in shares of Crocs by 109.5% during the 3rd quarter. Avior Wealth Management LLC now owns 398 shares of the textile maker’s stock worth $58,000 after buying an additional 208 shares during the last quarter. 93.44% of the stock is currently owned by institutional investors.

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.