Seaport Res Ptn Comments on Crocs’ Q3 Earnings (NASDAQ:CROX)

Crocs, Inc. (NASDAQ:CROX) – Investment analysts at Seaport Res Ptn upped their Q3 2024 earnings per share estimates for shares of Crocs in a report released on Tuesday, October 22nd. Seaport Res Ptn analyst M. Kummetz now forecasts that the textile maker will post earnings of $3.15 per share for the quarter, up from their previous estimate of $3.10. The consensus estimate for Crocs’ current full-year earnings is $12.88 per share.

Crocs (NASDAQ:CROX) last posted its quarterly earnings results on Thursday, August 1st. The textile maker reported $4.01 EPS for the quarter, beating the consensus estimate of $3.59 by $0.42. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Crocs had a return on equity of 53.20% and a net margin of 20.02%. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.59 EPS.

Other equities analysts have also recently issued research reports about the company. Barclays cut their price target on Crocs from $169.00 to $164.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. UBS Group lowered their price objective on Crocs from $148.00 to $146.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 16th. KeyCorp upped their price objective on Crocs from $149.00 to $155.00 and gave the company an “overweight” rating in a research note on Thursday, September 26th. Piper Sandler reiterated an “overweight” rating and issued a $170.00 price objective on shares of Crocs in a research note on Friday, August 23rd. Finally, StockNews.com upgraded Crocs from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Crocs presently has a consensus rating of “Moderate Buy” and an average target price of $162.58.

Crocs Trading Down 1.0 %

Crocs stock opened at $129.99 on Friday. The business has a 50 day moving average price of $138.23 and a two-hundred day moving average price of $138.54. The company has a quick ratio of 0.95, a current ratio of 1.50 and a debt-to-equity ratio of 0.93. The stock has a market cap of $7.89 billion, a price-to-earnings ratio of 10.06, a price-to-earnings-growth ratio of 1.35 and a beta of 1.99. Crocs has a 12 month low of $74.00 and a 12 month high of $165.32.

Institutional Trading of Crocs

Several hedge funds have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue increased its holdings in Crocs by 3.6% during the 3rd quarter. State of Alaska Department of Revenue now owns 9,433 shares of the textile maker’s stock worth $1,365,000 after purchasing an additional 330 shares in the last quarter. Financial Management Professionals Inc. increased its holdings in Crocs by 11,200.0% during the 3rd quarter. Financial Management Professionals Inc. now owns 226 shares of the textile maker’s stock worth $33,000 after purchasing an additional 224 shares in the last quarter. Clear Harbor Asset Management LLC increased its holdings in Crocs by 4.0% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 3,014 shares of the textile maker’s stock worth $436,000 after purchasing an additional 115 shares in the last quarter. DekaBank Deutsche Girozentrale increased its holdings in Crocs by 477.9% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 11,246 shares of the textile maker’s stock worth $1,614,000 after purchasing an additional 9,300 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in Crocs by 69.2% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 8,224 shares of the textile maker’s stock worth $1,191,000 after purchasing an additional 3,364 shares in the last quarter. Institutional investors and hedge funds own 93.44% of the company’s stock.

Insiders Place Their Bets

In other news, Director Douglas J. Treff sold 10,594 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $132.38, for a total value of $1,402,433.72. Following the transaction, the director now owns 81,254 shares of the company’s stock, valued at $10,756,404.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Crocs news, Director John B. Replogle acquired 1,996 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were acquired at an average price of $123.96 per share, with a total value of $247,424.16. Following the purchase, the director now owns 7,064 shares of the company’s stock, valued at $875,653.44. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Douglas J. Treff sold 10,594 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $132.38, for a total value of $1,402,433.72. Following the sale, the director now directly owns 81,254 shares in the company, valued at $10,756,404.52. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.72% of the company’s stock.

About Crocs

Crocs, Inc, together with its subsidiaries, designs, develops, manufactures, markets, distributes, and sells casual lifestyle footwear and accessories for men, women, and children under Crocs and HEYDUDE Brand in the United States and internationally. The company offers various footwear products, including clogs, sandals, slides, flips, wedges, platforms, socks, boots, charms, flip flops, sneakers, and slippers.