KeyCorp Raises Crocs (NASDAQ:CROX) Price Target to $155.00

Crocs (NASDAQ:CROX) had its price objective hoisted by KeyCorp from $149.00 to $155.00 in a research report released on Thursday morning, Benzinga reports. KeyCorp currently has an overweight rating on the textile maker’s stock.

Several other equities analysts also recently weighed in on the stock. Barclays decreased their price target on shares of Crocs from $169.00 to $164.00 and set an overweight rating on the stock in a research note on Friday, August 2nd. Piper Sandler reissued an overweight rating and issued a $170.00 price target on shares of Crocs in a research note on Friday, August 23rd. Raymond James downgraded shares of Crocs from a strong-buy rating to an outperform rating and set a $164.00 price target on the stock. in a research note on Friday, August 2nd. Williams Trading raised shares of Crocs from a hold rating to a buy rating and raised their price target for the stock from $135.00 to $163.00 in a research note on Thursday, August 22nd. Finally, UBS Group cut their price objective on shares of Crocs from $148.00 to $146.00 and set a neutral rating for the company in a research report on Tuesday, July 16th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Crocs has a consensus rating of Moderate Buy and a consensus target price of $160.82.

Crocs Stock Performance

CROX opened at $144.31 on Thursday. The company has a quick ratio of 0.95, a current ratio of 1.50 and a debt-to-equity ratio of 0.93. The company has a market cap of $8.76 billion, a price-to-earnings ratio of 11.17, a PEG ratio of 1.44 and a beta of 2.00. Crocs has a 52-week low of $74.00 and a 52-week high of $165.32. The firm’s fifty day simple moving average is $135.41 and its two-hundred day simple moving average is $138.52.

Crocs (NASDAQ:CROX) last posted its quarterly earnings data on Thursday, August 1st. The textile maker reported $4.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.59 by $0.42. The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.10 billion. Crocs had a net margin of 20.02% and a return on equity of 53.20%. The company’s revenue was up 3.6% compared to the same quarter last year. During the same period last year, the firm posted $3.59 earnings per share. Equities analysts anticipate that Crocs will post 12.85 earnings per share for the current fiscal year.

Insider Buying and Selling at Crocs

In other Crocs news, Director Douglas J. Treff sold 10,594 shares of Crocs stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $132.38, for a total transaction of $1,402,433.72. Following the completion of the sale, the director now directly owns 81,254 shares in the company, valued at $10,756,404.52. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Crocs news, Director John B. Replogle acquired 1,996 shares of the stock in a transaction dated Friday, August 2nd. The stock was acquired at an average price of $123.96 per share, with a total value of $247,424.16. Following the completion of the purchase, the director now owns 7,064 shares in the company, valued at approximately $875,653.44. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Douglas J. Treff sold 10,594 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $132.38, for a total transaction of $1,402,433.72. Following the completion of the transaction, the director now directly owns 81,254 shares of the company’s stock, valued at approximately $10,756,404.52. The disclosure for this sale can be found here. Company insiders own 2.72% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CROX. Coatue Management LLC boosted its stake in shares of Crocs by 836.7% in the fourth quarter. Coatue Management LLC now owns 1,029,765 shares of the textile maker’s stock valued at $96,190,000 after purchasing an additional 919,835 shares during the period. Patient Capital Management LLC purchased a new position in Crocs in the fourth quarter worth approximately $39,420,000. Goldman Sachs Group Inc. lifted its stake in Crocs by 46.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 770,281 shares of the textile maker’s stock worth $71,952,000 after acquiring an additional 245,240 shares during the last quarter. National Bank of Canada FI lifted its stake in Crocs by 8,437.1% in the second quarter. National Bank of Canada FI now owns 182,695 shares of the textile maker’s stock worth $26,993,000 after acquiring an additional 180,555 shares during the last quarter. Finally, Rheos Capital Works Inc. purchased a new position in Crocs in the first quarter worth approximately $22,720,000. Hedge funds and other institutional investors own 93.44% of the company’s stock.

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.