Crocs, Inc. (NASDAQ:CROX) shares traded up 5.1% on Wednesday following a better than expected earnings announcement. The company traded as high as $8.90 and last traded at $8.50, with a volume of 3,459,882 shares trading hands. The stock had previously closed at $8.09.

The textile maker reported $0.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.12. Crocs had a negative net margin of 1.52% and a negative return on equity of 4.89%. The firm had revenue of $313.20 million during the quarter, compared to analyst estimates of $311.33 million. During the same quarter in the prior year, the firm posted $0.16 earnings per share. Crocs’s quarterly revenue was down 3.3% on a year-over-year basis.

CROX has been the subject of a number of analyst reports. B. Riley reissued a “neutral” rating and issued a $8.00 price objective on shares of Crocs in a report on Monday, May 8th. Zacks Investment Research lowered shares of Crocs from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 9th. Susquehanna Bancshares Inc reissued a “neutral” rating and issued a $7.00 price objective (up previously from $6.00) on shares of Crocs in a report on Friday, May 12th. TheStreet raised shares of Crocs from a “d” rating to a “c-” rating in a report on Wednesday, June 21st. Finally, BidaskClub lowered shares of Crocs from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $7.50.

Several large investors have recently made changes to their positions in the stock. State Street Corp boosted its position in Crocs by 7.3% in the fourth quarter. State Street Corp now owns 1,622,735 shares of the textile maker’s stock worth $11,131,000 after buying an additional 109,721 shares during the last quarter. Guggenheim Capital LLC bought a new position in Crocs during the fourth quarter worth approximately $914,000. AQR Capital Management LLC bought a new position in Crocs during the fourth quarter worth approximately $626,000. Thrivent Financial for Lutherans boosted its position in Crocs by 7.0% in the fourth quarter. Thrivent Financial for Lutherans now owns 40,000 shares of the textile maker’s stock worth $274,000 after buying an additional 2,610 shares during the last quarter. Finally, Norges Bank bought a new position in Crocs during the fourth quarter worth approximately $2,463,000. 90.18% of the stock is owned by hedge funds and other institutional investors.

The company’s 50-day moving average price is $7.64 and its 200-day moving average price is $6.96. The company’s market cap is $629.71 million.

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About Crocs

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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