Crocs (NASDAQ:CROX) Releases Earnings Results, Beats Estimates By $0.51 EPS

Crocs (NASDAQ:CROXGet Rating) released its earnings results on Thursday. The textile maker reported $3.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.73 by $0.51, Briefing.com reports. Crocs had a net margin of 19.08% and a return on equity of 202.79%. The company had revenue of $964.60 million for the quarter, compared to analysts’ expectations of $938.93 million. During the same quarter in the previous year, the company earned $2.23 EPS. Crocs’s revenue for the quarter was up 50.6% on a year-over-year basis.

Crocs Stock Performance

CROX stock traded up $4.53 on Friday, hitting $73.61. The company’s stock had a trading volume of 3,329,476 shares, compared to its average volume of 1,908,124. The firm has a 50 day moving average of $57.01 and a two-hundred day moving average of $70.46. Crocs has a 1 year low of $46.08 and a 1 year high of $183.88. The stock has a market cap of $4.53 billion, a price-to-earnings ratio of 8.40, a price-to-earnings-growth ratio of 0.45 and a beta of 2.02. The company has a current ratio of 1.94, a quick ratio of 1.19 and a debt-to-equity ratio of 5.58.

Insider Activity at Crocs

In other Crocs news, Director Thomas J. Smach purchased 5,000 shares of Crocs stock in a transaction that occurred on Wednesday, May 25th. The stock was purchased at an average price of $49.99 per share, for a total transaction of $249,950.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at $499,900. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Thomas J. Smach acquired 5,000 shares of the business’s stock in a transaction on Wednesday, May 25th. The stock was bought at an average price of $49.99 per share, for a total transaction of $249,950.00. Following the transaction, the director now owns 10,000 shares in the company, valued at $499,900. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Anne Mehlman acquired 2,600 shares of the business’s stock in a transaction on Monday, May 9th. The shares were purchased at an average price of $54.91 per share, with a total value of $142,766.00. Following the transaction, the chief financial officer now owns 121,153 shares in the company, valued at approximately $6,652,511.23. The disclosure for this purchase can be found here. Insiders acquired a total of 17,600 shares of company stock worth $947,066 in the last 90 days. 2.71% of the stock is owned by insiders.

Hedge Funds Weigh In On Crocs

A number of institutional investors and hedge funds have recently made changes to their positions in CROX. BlackRock Inc. grew its stake in shares of Crocs by 3.9% during the 1st quarter. BlackRock Inc. now owns 6,646,713 shares of the textile maker’s stock worth $507,811,000 after purchasing an additional 247,828 shares during the period. Vanguard Group Inc. grew its stake in shares of Crocs by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 5,836,304 shares of the textile maker’s stock worth $445,893,000 after purchasing an additional 226,669 shares during the period. Wellington Management Group LLP grew its stake in shares of Crocs by 16.1% during the 1st quarter. Wellington Management Group LLP now owns 991,024 shares of the textile maker’s stock worth $75,715,000 after purchasing an additional 137,493 shares during the period. Prudential Financial Inc. grew its stake in shares of Crocs by 63.0% during the 1st quarter. Prudential Financial Inc. now owns 222,013 shares of the textile maker’s stock worth $16,963,000 after purchasing an additional 85,778 shares during the period. Finally, LSV Asset Management acquired a new position in shares of Crocs during the 1st quarter worth $5,401,000. 90.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CROX shares. UBS Group decreased their target price on shares of Crocs from $73.00 to $59.00 and set a “neutral” rating on the stock in a research report on Friday, July 15th. OTR Global downgraded shares of Crocs to a “positive” rating in a research note on Tuesday, July 19th. B. Riley dropped their price objective on shares of Crocs from $120.00 to $116.00 in a research note on Friday. Piper Sandler decreased their target price on shares of Crocs from $120.00 to $90.00 and set an “overweight” rating for the company in a research report on Tuesday, July 26th. Finally, Stifel Nicolaus decreased their target price on shares of Crocs from $59.00 to $54.00 in a research report on Wednesday, July 20th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $94.25.

About Crocs

(Get Rating)

Crocs, Inc, together with its subsidiaries, designs, develops, manufactures, markets, and distributes casual lifestyle footwear and accessories for men, women, and children. It offers various footwear products, including clogs, sandals, slides, flip-flops, boots, flats, wedges, platforms, socks, shoe charms, loafers, sneakers, and slippers under the Crocs brand name.

See Also

Earnings History for Crocs (NASDAQ:CROX)

Receive News & Ratings for Crocs Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crocs and related companies with MarketBeat.com's FREE daily email newsletter.