Crocs, Inc. (NASDAQ:CROX) was the recipient of a large increase in short interest in June. As of June 30th, there was short interest totalling 8,297,800 shares, an increase of 26.4% from the May 30th total of 6,566,100 shares. Based on an average trading volume of 1,820,000 shares, the short-interest ratio is currently 4.6 days. Currently, 14.4% of the company’s shares are short sold.
Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of Crocs by 0.6% in the 4th quarter. BlackRock Inc. now owns 10,192,033 shares of the textile maker’s stock valued at $264,789,000 after buying an additional 64,014 shares during the period. Marshall Wace LLP lifted its holdings in shares of Crocs by 95.0% in the 1st quarter. Marshall Wace LLP now owns 1,739,464 shares of the textile maker’s stock valued at $44,790,000 after buying an additional 847,515 shares during the period. Thrivent Financial for Lutherans lifted its holdings in shares of Crocs by 4.5% in the 4th quarter. Thrivent Financial for Lutherans now owns 1,613,772 shares of the textile maker’s stock valued at $41,926,000 after buying an additional 69,897 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd raised its holdings in Crocs by 7.0% during the first quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 1,590,019 shares of the textile maker’s stock worth $40,942,000 after purchasing an additional 103,351 shares during the last quarter. Finally, Norges Bank acquired a new position in Crocs during the fourth quarter worth $40,259,000. 97.21% of the stock is owned by institutional investors and hedge funds.
CROX has been the topic of a number of analyst reports. ValuEngine lowered Yext from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 10th. CL King raised Crocs from a “neutral” rating to a “buy” rating in a research report on Thursday, June 27th. BidaskClub raised Xilinx from a “hold” rating to a “buy” rating in a research report on Wednesday. Robert W. Baird reduced their price target on Micron Technology from $32.00 to $28.00 and set an “underperform” rating on the stock in a research report on Friday, June 21st. Finally, Zacks Investment Research lowered Eisai from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $29.47.
Shares of CROX stock opened at $23.67 on Friday. The company has a 50 day moving average of $20.42. Crocs has a twelve month low of $16.26 and a twelve month high of $31.88. The stock has a market cap of $1.69 billion, a P/E ratio of 27.52, a P/E/G ratio of 1.27 and a beta of 0.92. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 2.77.
Crocs (NASDAQ:CROX) last announced its earnings results on Tuesday, May 7th. The textile maker reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.11. The company had revenue of $295.95 million for the quarter, compared to the consensus estimate of $288.72 million. Crocs had a return on equity of 35.81% and a net margin of 4.97%. The company’s revenue was up 4.5% on a year-over-year basis. During the same period last year, the business posted $0.15 EPS. Research analysts expect that Crocs will post 1.25 EPS for the current year.
Crocs announced that its board has approved a stock repurchase plan on Tuesday, May 7th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the textile maker to repurchase up to 25.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
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 worldwide. It offers various footwear products, including clogs, sandals, flips and slides, shoes, and boots under the Crocs brand name.