Crocs, Inc. (CROX) Given “Hold” Rating at Piper Jaffray Companies
Crocs, Inc. (NASDAQ:CROX)‘s stock had its “hold” rating reaffirmed by investment analysts at Piper Jaffray Companies in a report issued on Wednesday. They currently have a $9.00 target price on the textile maker’s stock. Piper Jaffray Companies’ price objective would suggest a potential upside of 5.88% from the company’s previous close.
Several other equities analysts have also recently weighed in on CROX. B. Riley reaffirmed a “neutral” rating and set a $8.00 target price on shares of Crocs in a research note on Monday, May 8th. BidaskClub cut Crocs from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Stifel Nicolaus reaffirmed a “hold” rating and set a $8.00 target price (up previously from $7.00) on shares of Crocs in a research note on Saturday, July 22nd. TheStreet raised Crocs from a “d” rating to a “c-” rating in a research note on Wednesday, June 21st. Finally, Susquehanna Bancshares Inc reaffirmed a “neutral” rating and set a $7.00 target price (up previously from $6.00) on shares of Crocs in a research note on Friday, May 12th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. Crocs presently has an average rating of “Hold” and an average price target of $8.00.
Shares of Crocs (CROX) traded up 5.07% on Wednesday, hitting $8.50. 3,459,882 shares of the stock traded hands. The company’s 50 day moving average is $7.64 and its 200 day moving average is $6.96. The stock’s market cap is $629.71 million. Crocs has a one year low of $5.93 and a one year high of $9.16.
Crocs (NASDAQ:CROX) last released its earnings results on Wednesday, August 9th. The textile maker reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.12. Crocs had a negative return on equity of 4.89% and a negative net margin of 1.52%. 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 business posted $0.16 EPS. The business’s revenue for the quarter was down 3.3% on a year-over-year basis. On average, equities analysts forecast that Crocs will post ($0.04) EPS for the current year.
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Several large investors have recently made changes to their positions in the stock. Renaissance Technologies LLC raised its stake in shares of Crocs by 53.1% in the first quarter. Renaissance Technologies LLC now owns 2,127,636 shares of the textile maker’s stock valued at $15,042,000 after buying an additional 737,636 shares in the last quarter. Morgan Stanley raised its stake in shares of Crocs by 37.6% in the first quarter. Morgan Stanley now owns 1,327,853 shares of the textile maker’s stock valued at $9,388,000 after buying an additional 362,712 shares in the last quarter. Norges Bank purchased a new stake in shares of Crocs during the fourth quarter valued at about $2,463,000. Vanguard Group Inc. raised its stake in shares of Crocs by 4.1% in the first quarter. Vanguard Group Inc. now owns 6,437,469 shares of the textile maker’s stock valued at $45,513,000 after buying an additional 253,305 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Crocs by 9.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,594,913 shares of the textile maker’s stock valued at $18,346,000 after buying an additional 220,190 shares in the last quarter. Institutional investors and hedge funds own 90.18% of the company’s stock.
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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