Crocs (NASDAQ:CROX – Get 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
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.
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.
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