Brokerages Set Crocs, Inc. (CROX) Price Target at $8.50

Crocs, Inc. (NASDAQ:CROX) has earned an average rating of “Hold” from the ten brokerages that are presently covering the firm, Marketbeat reports. Eight equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $8.50.

A number of equities analysts have recently weighed in on CROX shares. BidaskClub lowered Crocs from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Piper Jaffray Companies reiterated a “hold” rating and set a $7.00 target price on shares of Crocs in a research note on Friday, July 14th. Stifel Nicolaus reiterated a “hold” rating and set a $8.00 target price (up previously from $7.00) on shares of Crocs in a research note on Saturday, July 22nd. Susquehanna Bancshares Inc reiterated a “positive” rating and set a $8.00 target price (up previously from $7.00) on shares of Crocs in a research note on Thursday, August 10th. Finally, ValuEngine upgraded Crocs from a “sell” rating to a “hold” rating in a research note on Friday, August 11th.

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Crocs (NASDAQ:CROX) last announced 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. The company had revenue of $313.20 million for the quarter, compared to analyst estimates of $311.33 million. Crocs had a negative return on equity of 3.36% and a negative net margin of 0.91%. The firm’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.16 earnings per share.

Large investors have recently modified their holdings of the stock. Russell Investments Group Ltd. grew its position in Crocs by 60.8% during the second quarter. Russell Investments Group Ltd. now owns 270,775 shares of the textile maker’s stock worth $2,088,000 after buying an additional 102,378 shares in the last quarter. Renaissance Technologies LLC grew its position in Crocs by 53.1% during the first quarter. Renaissance Technologies LLC now owns 2,127,636 shares of the textile maker’s stock worth $15,042,000 after buying an additional 737,636 shares in the last quarter. WINTON GROUP Ltd acquired a new stake in Crocs during the second quarter worth approximately $933,000. Morgan Stanley grew its position in Crocs by 37.6% during the first quarter. Morgan Stanley now owns 1,327,853 shares of the textile maker’s stock worth $9,388,000 after buying an additional 362,712 shares in the last quarter. Finally, UBS Asset Management Americas Inc. grew its position in Crocs by 110.3% during the first quarter. UBS Asset Management Americas Inc. now owns 29,938 shares of the textile maker’s stock worth $212,000 after buying an additional 15,699 shares in the last quarter. 88.60% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Crocs (NASDAQ:CROX)

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