Crocs, Inc. (CROX) Receives $11.20 Consensus Target Price from Brokerages
Crocs, Inc. (NASDAQ:CROX) has earned an average rating of “Hold” from the eleven brokerages that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $11.20.
A number of research analysts have recently weighed in on the company. Pivotal Research reaffirmed a “hold” rating and set a $13.00 price objective (up from $10.00) on shares of Crocs in a research report on Wednesday, January 10th. BidaskClub cut Crocs from a “buy” rating to a “hold” rating in a report on Friday, January 26th. Zacks Investment Research cut Crocs from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 17th. CL King cut Crocs from a “buy” rating to a “neutral” rating in a report on Monday, November 20th. Finally, ValuEngine raised Crocs from a “sell” rating to a “hold” rating in a report on Monday, November 13th.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Neuberger Berman Group LLC lifted its holdings in Crocs by 4.9% in the 3rd quarter. Neuberger Berman Group LLC now owns 1,531,410 shares of the textile maker’s stock worth $14,855,000 after purchasing an additional 71,420 shares in the last quarter. WINTON GROUP Ltd purchased a new position in Crocs in the 2nd quarter worth approximately $933,000. Renaissance Technologies LLC lifted its holdings in Crocs by 18.2% in the 2nd quarter. Renaissance Technologies LLC now owns 2,515,710 shares of the textile maker’s stock worth $19,396,000 after purchasing an additional 388,074 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in Crocs by 14.7% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 803,838 shares of the textile maker’s stock worth $7,798,000 after purchasing an additional 103,224 shares in the last quarter. Finally, Profit Investment Management LLC lifted its holdings in Crocs by 23.4% in the 4th quarter. Profit Investment Management LLC now owns 242,436 shares of the textile maker’s stock worth $3,064,000 after purchasing an additional 46,001 shares in the last quarter. 92.19% of the stock is currently owned by institutional investors.
Crocs (NASDAQ:CROX) last posted its quarterly earnings data on Tuesday, November 7th. The textile maker reported $0.02 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.06. Crocs had a negative return on equity of 0.42% and a negative net margin of 0.60%. The firm had revenue of $243.27 million for the quarter, compared to analysts’ expectations of $236.90 million. analysts predict that Crocs will post -0.05 EPS for the current year.
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Crocs Company Profile
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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