Bank of America Raises Price Target for Crocs Stock

Crocs (NASDAQ:CROX – Get Free Report) has seen its price target increased by analysts at Bank of America, moving from $144.00 to $153.00, as reported recently. The firm maintains a "buy" rating for the popular footwear brand's stock, indicating strong confidence in its potential. With this new price target, there is an anticipated upside of approximately 41.10% based on the company's previous closing price.

In addition to Bank of America, several other research firms have provided updates on Crocs stock. StockNews.com recently upgraded Crocs from a "hold" to a "buy" rating, reflecting a positive outlook. Conversely, Raymond James downgraded the stock from "outperform" to "market perform". Guggenheim adjusted their target price from $155.00 to $150.00 with a maintained "buy" rating, while Needham & Company LLC affirmed their "buy" rating with a price objective of $129.00. Lastly, KeyCorp revised their price target down from $150.00 to $120.00, retaining an "overweight" rating for Crocs. Currently, four research analysts suggest holding the stock, whereas thirteen recommend buying it, leading to a consensus rating of "Moderate Buy" and an average target price of $142.87 according to MarketBeat data.

Crocs Stock Overview

The stock opened at $108.43 on the last trading day. Over the past year, Crocs has seen a low of $88.25 and a high of $165.32. The company boasts a market capitalization of $6.32 billion with a price-to-earnings (P/E) ratio of 7.86 and a P/E to growth (P/E/G) ratio of 1.67. With a beta of 1.93, the shares have shown significant volatility. Its current ratio stands at 1.43, while the quick ratio is at 0.90. Crocs' debt-to-equity ratio is 0.82. The stock exhibits a 50-day moving average price of $105.73 and a 200-day moving average price of $119.35.

Crocs reported its quarterly earnings on February 13, with earnings per share (EPS) of $2.52, exceeding consensus estimates of $2.27 by $0.25. The company's return on equity is reported at 49.70%, alongside a net margin of 20.50%. Analysts predict an average EPS of 12.92 for the current fiscal year.

Institutional Investment Trends

Recently, various institutional investors have adjusted their stakes in Crocs. Financial Management Professionals Inc. dramatically increased its holdings in Crocs by 11,200%, now owning 226 shares valued at around $33,000 following the addition of 224 shares last quarter. V Square Quantitative Management LLC raised its position by 83%, owning 313 shares worth approximately $45,000 after acquiring 142 new shares. UMB Bank n.a. boosted its stake by 46.6%, now holding 447 shares valued at $49,000 after purchasing 142 additional shares. Allianz SE has also made a new investment in Crocs worth around $53,000. Additionally, Avior Wealth Management LLC amplified their stake by 109.5%, now owning 398 shares valued at $58,000 after acquiring 208 more shares last quarter. A significant 93.44% of Crocs' stock is currently held by institutional and hedge funds.

Crocs Company Summary

Crocs, Inc., along with its subsidiaries, specializes in designing, developing, manufacturing, marketing, distributing, and selling casual footwear and accessories for adults and children. Their product range includes clogs, sandals, slides, boots, and many other types of footwear, all marketed under the Crocs and HEYDUDE brands, both in the U.S. and internationally.

Crocs, BankOfAmerica, Stock