Robert W. Baird upgraded shares of Crocs (NASDAQ:CROX) from a neutral rating to an outperform rating in a research note published on Friday morning, Benzinga reports. They currently have $29.00 price objective on the textile maker’s stock.

Other analysts have also recently issued reports about the company. Piper Jaffray Companies cut Crocs from an overweight rating to a neutral rating and set a $31.00 price objective for the company. in a research report on Tuesday, April 23rd. BidaskClub cut Crocs from a hold rating to a sell rating in a research report on Wednesday, May 29th. Zacks Investment Research upgraded Crocs from a hold rating to a strong-buy rating and set a $28.00 price objective for the company in a research report on Thursday, May 9th. ValuEngine cut Crocs from a buy rating to a hold rating in a research report on Friday, May 10th. Finally, Monness Crespi & Hardt upgraded Crocs from a neutral rating to a buy rating and set a $32.00 price objective for the company in a research report on Thursday, February 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $29.13.

Crocs stock opened at $19.25 on Friday. The stock has a market capitalization of $1.39 billion, a PE ratio of 22.38, a PEG ratio of 1.04 and a beta of 0.97. Crocs has a 12 month low of $16.26 and a 12 month high of $31.88. The firm has a 50 day simple moving average of $20.91. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.95 and a quick ratio of 1.32.

Crocs (NASDAQ:CROX) last posted its quarterly earnings data on Tuesday, May 7th. The textile maker reported $0.36 EPS for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.11. The business had revenue of $295.95 million during the quarter, compared to analysts’ expectations of $288.72 million. Crocs had a return on equity of 35.81% and a net margin of 4.97%. The business’s revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.15 earnings per share. Equities analysts forecast that Crocs will post 1.25 EPS for the current fiscal year.

Crocs announced that its Board of Directors has approved a stock buyback program on Tuesday, May 7th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the textile maker to purchase up to 25.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Several institutional investors and hedge funds have recently modified their holdings of CROX. BlackRock Inc. boosted its stake in Crocs by 0.6% during the fourth quarter. BlackRock Inc. now owns 10,192,033 shares of the textile maker’s stock worth $264,789,000 after buying an additional 64,014 shares during the last quarter. Marshall Wace LLP boosted its stake in Crocs by 95.0% during the first quarter. Marshall Wace LLP now owns 1,739,464 shares of the textile maker’s stock worth $44,790,000 after buying an additional 847,515 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in Crocs by 4.5% during the fourth quarter. Thrivent Financial for Lutherans now owns 1,613,772 shares of the textile maker’s stock worth $41,926,000 after buying an additional 69,897 shares during the last quarter. MERIAN GLOBAL INVESTORS UK Ltd boosted its stake 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 buying 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. Hedge funds and other institutional investors own 97.21% 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 worldwide. It offers various footwear products, including clogs, sandals, flips and slides, shoes, and boots under the Crocs brand name.

Recommended Story: What is an SEC Filing?

Analyst Recommendations for Crocs (NASDAQ:CROX)

Receive News & Ratings for Crocs Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crocs and related companies with MarketBeat.com's FREE daily email newsletter.