Crocs, Inc. (NASDAQ:CROX) Sees Large Increase in Short Interest

Crocs, Inc. (NASDAQ:CROX) was the target of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 4,340,000 shares, an increase of 5.6% from the October 15th total of 4,110,000 shares. Approximately 7.7% of the company’s stock are short sold. Based on an average daily volume of 1,260,000 shares, the days-to-cover ratio is presently 3.4 days.

Analysts Set New Price Targets

Several analysts have issued reports on CROX shares. Barclays lowered their target price on shares of Crocs from $164.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. KeyCorp lowered their price objective on Crocs from $155.00 to $150.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. UBS Group cut their price objective on Crocs from $146.00 to $122.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Loop Capital lowered shares of Crocs from a “buy” rating to a “hold” rating and dropped their target price for the company from $150.00 to $110.00 in a research report on Thursday, November 7th. Finally, Guggenheim decreased their price target on shares of Crocs from $182.00 to $155.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $151.14.

Insider Buying and Selling

In other Crocs news, Director John B. Replogle acquired 2,240 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were acquired at an average cost of $112.60 per share, with a total value of $252,224.00. Following the completion of the acquisition, the director now directly owns 9,304 shares in the company, valued at $1,047,630.40. This trade represents a 31.71 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Susan L. Healy acquired 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were bought at an average price of $99.70 per share, for a total transaction of $99,700.00. Following the completion of the purchase, the chief financial officer now owns 22,652 shares in the company, valued at $2,258,404.40. This trade represents a 4.62 % increase in their position. The disclosure for this purchase can be found here. 2.72% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Crocs

A number of large investors have recently made changes to their positions in CROX. FMR LLC increased its holdings in Crocs by 4.8% in the 3rd quarter. FMR LLC now owns 8,907,591 shares of the textile maker’s stock worth $1,289,908,000 after acquiring an additional 406,287 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Crocs by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 5,572,643 shares of the textile maker’s stock valued at $801,346,000 after acquiring an additional 76,460 shares during the last quarter. State Street Corp grew its holdings in shares of Crocs by 0.7% in the third quarter. State Street Corp now owns 1,812,493 shares of the textile maker’s stock valued at $262,467,000 after purchasing an additional 13,467 shares in the last quarter. Pacer Advisors Inc. increased its position in Crocs by 33.8% in the third quarter. Pacer Advisors Inc. now owns 1,459,654 shares of the textile maker’s stock worth $211,372,000 after purchasing an additional 368,557 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in Crocs by 1.3% during the second quarter. Thrivent Financial for Lutherans now owns 901,973 shares of the textile maker’s stock valued at $131,634,000 after purchasing an additional 11,986 shares during the last quarter. 93.44% of the stock is currently owned by institutional investors.

Crocs Stock Up 1.5 %

Shares of CROX stock traded up $1.47 during mid-day trading on Tuesday, hitting $97.98. The company’s stock had a trading volume of 1,485,861 shares, compared to its average volume of 1,347,979. The stock has a market cap of $5.71 billion, a price-to-earnings ratio of 7.12, a PEG ratio of 0.99 and a beta of 2.01. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.90 and a current ratio of 1.43. Crocs has a 52-week low of $85.71 and a 52-week high of $165.32. The business has a 50-day moving average price of $127.23 and a 200 day moving average price of $136.57.

Crocs (NASDAQ:CROX) last posted its earnings results on Tuesday, October 29th. The textile maker reported $3.60 EPS for the quarter, topping analysts’ consensus estimates of $3.10 by $0.50. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. Crocs had a net margin of 20.50% and a return on equity of 49.70%. The firm’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.25 EPS. Research analysts predict that Crocs will post 12.93 EPS for the current fiscal year.

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.