Pivotal Research analyst Mitch Kummetz reiterated a Buy rating on Crocs (CROX) yesterday and set a price target of $35. The company’s shares closed yesterday at $28.48.
Kummetz commented:
“We also don’t expect any changes to the company’s FY19 guidance, which it already reiterated as part of the 4Q18 preannouncement. That said, given strong Crocs brand momentum, we believe FY19 guidance is conservative, especially if the momentum builds outside the U.S.”
According to TipRanks.com, Kummetz is a 4-star analyst with an average return of 6.7% and a 63.4% success rate. Kummetz covers the Services sector, focusing on stocks such as Foot Locker Inc, Shoe Carnival, and Genesco Inc.
Crocs has an analyst consensus of Strong Buy, with a price target consensus of $32.50.
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Crocs’ market cap is currently $1.93B and has a P/E ratio of 173.34. The company has a Price to Book ratio of 9.77.
Based on the recent corporate insider activity of 26 insiders, corporate insider sentiment is neutral on the stock. Earlier this month, Thomas Smach, a Director at CROX sold 10,000 shares for a total of $267,100.
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Crocs, Inc. engages in the design, development, manufacturing, worldwide marketing, and distribution of casual footwear, apparel, and accessories for men, women, and children. The company was founded by Scott Seamans, George B. Boedecker, Jr. and Lyndon V. Hanson III in 2002 and is headquartered in Niwot, CO.
