Crocs (CROX) announced its quarterly results on Thursday. The company reported $0.33 earnings per share for the quarter, beating the Thomson Reuters consensus estimate of $0.32 by $0.01. The company’s quarterly revenue was up 27.5% on a year-over-year basis.
On a related note, analysts at Sterne Agee cut their price target on shares of Crocs to $30.00 in a research note to investors on Tuesday, October 18th. Analysts at DA Davidson downgraded shares of Crocs from a “buy” rating to a “neutral” rating in a research note to investors on Tuesday, October 18th. They now have a $25.00 price target on the stock, down previously from $40.00. Also, analysts at Standpoint Research upgraded shares of Crocs from a “hold” rating to a “buy” rating in a research note to investors on Tuesday, October 18th. They now have a $21.00 price target on the stock.
Shares of Crocs (CROX) traded up 3.34% during mid-day trading on Thursday, hitting $17.00. Crocs (CROX) has a 52 week low of $13.72 and a 52 week high of $32.47. The stock’s 50-day moving average is $24.31 and its 200-day moving average is $24.2. The company has a market cap of $1.521 billion and a price-to-earnings ratio of 13.89.
Crocs, Inc. (Crocs) and its consolidated subsidiaries are a designer, manufacturer, distributor, worldwide marketer and brand manager of footwear and accessories for men, women and children. The Company’s products include footwear and accessories that utilize closed cell-resin, called Croslite. In addition to footwear, it also offers accessories, which generated approximately 4% of the total revenues during the year ended December 31, 2010. Its footwear products are divided into four product offerings: Core, Active, Casual and Style. Core product range offers molded products that are derivatives of the original Crocs Classic designs; Active product range includes -inspired products and footwear suited for activities, such as boating, walking, hiking and even recovery after workouts; Casual product includes sporty and relaxed styles, and Style product offering includes stylish products.
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