Crocs, Inc. (NASDAQ:CROX) shares reached a new 52-week high on Thursday following a stronger than expected earnings report. The stock traded as high as $28.07 and last traded at $27.20, with a volume of 274068 shares traded. The stock had previously closed at $21.44.
The textile maker reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.09. The firm had revenue of $261.10 million during the quarter, compared to analysts’ expectations of $246.47 million. Crocs had a return on equity of 13.84% and a net margin of 2.29%. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.03) earnings per share.
A number of brokerages have weighed in on CROX. Pivotal Research set a $25.00 price target on Crocs and gave the stock a “buy” rating in a research report on Tuesday. BidaskClub raised Crocs from a “hold” rating to a “buy” rating in a research report on Wednesday, October 31st. Piper Jaffray Companies set a $23.00 price target on Crocs and gave the stock a “buy” rating in a research report on Monday, October 22nd. Zacks Investment Research raised Crocs from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research report on Tuesday, October 9th. Finally, TheStreet raised Crocs from a “c+” rating to a “b” rating in a research report on Thursday, August 9th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $17.14.
Institutional investors have recently bought and sold shares of the company. NumerixS Investment Technologies Inc bought a new position in shares of Crocs in the second quarter worth about $137,000. Harvest Fund Management Co. Ltd bought a new position in shares of Crocs in the third quarter worth about $171,000. Aperio Group LLC bought a new position in shares of Crocs in the second quarter worth about $179,000. Brown Advisory Inc. bought a new position in shares of Crocs in the first quarter worth about $171,000. Finally, Amalgamated Bank bought a new position in shares of Crocs in the second quarter worth about $195,000. Institutional investors and hedge funds own 97.24% of the company’s stock.
The company has a market capitalization of $1.45 billion, a P/E ratio of -1,367.50, a PEG ratio of 5.27 and a beta of 0.61.
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Crocs Company Profile (NASDAQ:CROX)
Crocs, Inc, together with its subsidiaries, designs, develops, manufactures, markets, and distributes casual lifestyle footwear and accessories for men, women, and children worldwide. It offers various footwear products, including clogs, sandals, flips and slides, shoes, and boots under the Crocs brand name.
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