Pivotal Research Believes Crocs (CROX) Won’t Stop Here


In a report released today, Mitch Kummetz from Pivotal Research reiterated a Buy rating on Crocs (CROX), with a price target of $35. The company’s shares closed yesterday at $29.89, close to its 52-week high of $31.88.

Kummetz observed:

“We hope to learn more about the company’s 4Q results and FY19 outlook at the ICR Conference today.”

According to TipRanks.com, Kummetz is a 4-star analyst with an average return of 5.1% and a 60.9% success rate. Kummetz covers the Services sector, focusing on stocks such as Foot Locker Inc, Shoe Carnival, and Genesco Inc.

Currently, the analyst consensus on Crocs is a Moderate Buy with an average price target of $29.80, a -0.3% downside from current levels. In a report issued on January 2, Susquehanna also upgraded the stock to Buy with a $31 price target.

See today’s analyst top recommended stocks >>

Based on Crocs’ latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $9.38 million. In comparison, last year the company had a GAAP net loss of $24.36 million.

Based on the recent corporate insider activity of 25 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CROX in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

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