Crocs, Inc. (NASDAQ:CROX) Reaches New 52-Week High at $9.41
Crocs, Inc. (NASDAQ:CROX) shares reached a new 52-week high during trading on Friday . The stock traded as high as $9.41 and last traded at $9.34, with a volume of 2,024,248 shares. The stock had previously closed at $8.90.
Several research firms recently commented on CROX. BidaskClub raised shares of Crocs from a “hold” rating to a “buy” rating in a research note on Friday. ValuEngine upgraded shares of Crocs from a “sell” rating to a “hold” rating in a report on Friday. Susquehanna Bancshares Inc reiterated a “positive” rating and set a $8.00 target price (up from $7.00) on shares of Crocs in a report on Thursday. Piper Jaffray Companies reiterated a “hold” rating and set a $9.00 target price on shares of Crocs in a report on Wednesday. Finally, B. Riley reiterated a “neutral” rating and set a $8.00 target price on shares of Crocs in a report on Saturday, May 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $8.25.
The firm’s 50 day moving average price is $7.77 and its 200-day moving average price is $7.00. The stock’s market cap is $692.20 million.
Crocs (NASDAQ:CROX) last released its earnings results on Wednesday, August 9th. The textile maker reported $0.27 earnings per share for the quarter, topping the Zacks’ 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 firm had revenue of $313.20 million for the quarter, compared to analyst estimates of $311.33 million. During the same period in the prior year, the firm earned $0.16 earnings per share. The business’s quarterly revenue was down 3.3% compared to the same quarter last year. On average, equities analysts predict that Crocs, Inc. will post ($0.03) earnings per share for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the company. Capital Fund Management S.A. purchased a new stake in Crocs during the first quarter worth $111,000. State of Alaska Department of Revenue raised its stake in Crocs by 79.0% in the second quarter. State of Alaska Department of Revenue now owns 14,623 shares of the textile maker’s stock worth $112,000 after buying an additional 6,453 shares during the last quarter. Jane Street Group LLC purchased a new stake in Crocs during the first quarter worth $113,000. Karp Capital Management Corp purchased a new stake in Crocs during the first quarter worth $118,000. Finally, Teza Capital Management LLC purchased a new stake in Crocs during the first quarter worth $122,000. Hedge funds and other institutional investors own 90.18% of the company’s stock.
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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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