It is Poised to be a Bull Market for Crocs Inc. (CROX)

Crocs Inc. (NASDAQ: CROX) stock fell -1.87% on Tuesday to $123.24 against a previous-day closing price of $125.59. With 1.33 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.74 million shares. During the session, the Footwear & Accessories company that operates in wider Consumer Cyclical sector, reached to the highest price of $125.00 whereas the lowest price it dropped to was $122.08. The 52-week range on CROX shows that it touched its highest point at $131.18 and its lowest point at $46.08 during that stretch. It currently has a 1-year price target of $133.00. Beta for the stock currently stands at 1.92.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CROX was down-trending over the past week, with a drop of -3.76%, but this was up by 20.23% over a month. Three-month performance surged to 58.59% while six-month performance rose 102.43%. The stock gained 20.66% in the past year, while it has gained 13.66% so far this year. A look at the trailing 12-month EPS for CROX yields 9.06 with Next year EPS estimates of 10.87. For the next quarter, that number is 2.23. This implies an EPS growth rate of 149.50% for this year and 3.17% for next year. EPS is expected to grow by 10.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 95.20%.

Float and Shares Shorts:

At present, 61.69 million CROX shares are outstanding with a float of 60.06 million shares on hand for trading. On Oct 13, 2022, short shares totaled 4.19 million, which was 6.79% higher than short shares on Sep 14, 2022. In addition to Mr. Andrew Rees as the firm’s CEO & Director, Ms. Michelle Poole serves as its Pres.


Institutional Ownership:

Through their ownership of 82.12% of CROX’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 46.04% of CROX, in contrast to 41.82% held by mutual funds. Shares owned by individuals account for 26.56%. As the largest shareholder in CROX with 11.89% of the stake, Fidelity Management & Research Co holds 7,338,712 shares worth 7,338,712. A second-largest stockholder of CROX, BlackRock Fund Advisors, holds 6,170,962 shares, controlling over 9.99% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in CROX, holding 5,518,499 shares or 8.94% stake. With a 3.77% stake in CROX, the Fidelity Blue Chip Growth Fund is the largest stakeholder. A total of 2,329,024 shares are owned by the mutual fund manager. The iShares Core S&P Mid Cap ETF, which owns about 3.09% of CROX stock, is the second-largest Mutual Fund holder. It holds 1,904,953 shares valued at 206.55 million. Vanguard Total Stock Market Index holds 2.89% of the stake in CROX, owning 1,784,916 shares worth 193.54 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CROX since 11 analysts follow the stock currently. There are 6 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 4 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With CROX analysts setting a high price target of $165.00 and a low target of $103.00, the average target price over the next 12 months is $133.00. Based on these targets, CROX could surge 33.89% to reach the target high and fall by -16.42% to reach the target low. Reaching the average price target will result in a growth of 7.92% from current levels.


EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. CROX will report FY 2022 earnings on 02/14/2024. Analysts have provided yearly estimates in a range of $10.65 being high and $10.39 being low. For CROX, this leads to a yearly average estimate of $10.52. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Crocs Inc. surprised analysts by $0.36 when it reported $2.97 EPS against a consensus estimate of $2.61. The surprise factor in the prior quarter was $0.52. Based on analyst estimates, the high estimate for the next quarter is $2.37 and the low estimate is $2.15. The average estimate for the next quarter is thus $2.25.

Summary of Insider Activity:

Insiders traded CROX stock several times over the past three months with 0 Buys and 9 Sells. In these transactions, 0 shares were bought while 73,325 shares were sold. The number of buy transactions has increased to 34 while that of sell transactions has risen to 51 over the past year. The total number of shares bought during that period was 304,943 while 221,895 shares were sold.

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