Truist Financial Corp purchased a new position in shares of Crocs, Inc. (NASDAQ:CROX – Get Rating) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 15,712 shares of the textile maker’s stock, valued at approximately $1,200,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. acquired a new stake in Crocs during the 4th quarter worth $32,000. National Bank of Canada FI acquired a new stake in Crocs during the 4th quarter worth $36,000. Western Pacific Wealth Management LP acquired a new stake in Crocs during the 4th quarter worth $38,000. Sageworth Trust Co of South Dakota acquired a new stake in Crocs during the 4th quarter worth $44,000. Finally, Parallel Advisors LLC raised its stake in Crocs by 1,545.5% during the 4th quarter. Parallel Advisors LLC now owns 362 shares of the textile maker’s stock worth $46,000 after acquiring an additional 340 shares in the last quarter. 90.14% of the stock is currently owned by institutional investors and hedge funds.
Crocs Stock Down 1.6 %
Shares of NASDAQ:CROX opened at $62.84 on Friday. The company has a market cap of $3.87 billion, a price-to-earnings ratio of 5.66, a PEG ratio of 0.39 and a beta of 1.87. The firm’s 50-day simple moving average is $54.11 and its 200-day simple moving average is $74.41. The company has a quick ratio of 1.19, a current ratio of 1.96 and a debt-to-equity ratio of 8.17. Crocs, Inc. has a fifty-two week low of $46.08 and a fifty-two week high of $183.88.
Crocs (NASDAQ:CROX – Get Rating) last issued its earnings results on Thursday, May 5th. The textile maker reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.49. The business had revenue of $660.15 million for the quarter, compared to the consensus estimate of $621.81 million. Crocs had a net margin of 27.85% and a return on equity of 206.72%. The business’s quarterly revenue was up 43.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.49 earnings per share. As a group, equities research analysts predict that Crocs, Inc. will post 10.58 earnings per share for the current year.
Wall Street Analyst Weigh In
CROX has been the topic of several research analyst reports. Loop Capital upgraded shares of Crocs from a “hold” rating to a “buy” rating and lifted their price target for the stock from $52.42 to $75.00 in a research note on Tuesday, July 5th. Wedbush initiated coverage on shares of Crocs in a research report on Thursday, April 28th. They set an “outperform” rating and a $90.00 price objective on the stock. UBS Group lowered their price objective 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. Stifel Nicolaus lowered their price objective on shares of Crocs from $59.00 to $54.00 in a research report on Wednesday. Finally, Robert W. Baird lowered their price objective on shares of Crocs from $200.00 to $120.00 in a research report on Thursday, May 12th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $118.00.
Insider Activity at Crocs
In related news, CFO Anne Mehlman acquired 2,600 shares of Crocs stock in a transaction that occurred on Monday, May 9th. The stock was purchased at an average price of $54.91 per share, for a total transaction of $142,766.00. Following the completion of the purchase, the chief financial officer now directly owns 121,153 shares of the company’s stock, valued at $6,652,511.23. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Anne Mehlman acquired 2,600 shares of Crocs stock in a transaction that occurred on Monday, May 9th. The stock was purchased at an average price of $54.91 per share, for a total transaction of $142,766.00. Following the completion of the purchase, the chief financial officer now directly owns 121,153 shares of the company’s stock, valued at $6,652,511.23. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Daniel P. Hart acquired 5,000 shares of Crocs stock in a transaction that occurred on Tuesday, May 10th. The stock was bought at an average price of $52.63 per share, with a total value of $263,150.00. Following the purchase, the executive vice president now directly owns 263,322 shares of the company’s stock, valued at $13,858,636.86. The disclosure for this purchase can be found here. Insiders purchased 17,600 shares of company stock worth $947,066 over the last 90 days. Company insiders own 2.71% of the company’s stock.
Crocs Company Profile
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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Source: defenseworld.net
