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 $25.68.
Kummetz said:
“We’re lowering our FY19 GM forecast accordingly, but we’re lowering our SG&A forecast even more, resulting in an uptick in our EBIT and EPS estimates, and we’re raising our FY20 EBIT and EPS estimates even more. See our priority research for a more detailed analysis of these GM and SG&A dynamics.”
According to TipRanks.com, Kummetz is a 4-star analyst with an average return of 5.7% and a 62.8% 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 Strong Buy with an average price target of $32.40, a 26.2% upside from current levels. In a report released yesterday, Susquehanna also reiterated a Buy rating on the stock with a $35 price target.
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Crocs’ market cap is currently $1.74B and has a P/E ratio of 156.30. The company has a Price to Book ratio of 8.81.
Based on the recent corporate insider activity of 26 insiders, corporate insider sentiment is neutral on the stock. Last month, Thomas Smach, a Director at CROX sold 10,000 shares for a total of $267,100.
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.
