Crocs Upgrade Shoots CROX Stock Higher

by Christopher Freeburn | February 12, 2014 9:37 am

Crocs Upgrade Shoots CROX Stock Higher

Struggling shoe-maker Crocs (CROX[1]) received a vote of confidence from another investment firm[2], sending CROX stock up sharply in Wednesday morning trading.

crocs logo credit flickr 630 300x225 Crocs Upgrade Shoots CROX Stock Higher[3]
Source: Flickr[4]

Crocs shares surged almost 4% after Piper Jaffray changed its rating on Crocs stock, moving Crocs up form a prior rating of “Neutral” to “Overweight,” Ticker Report notes.

Piper Jaffray’s upgrade follows similar Crocs stock ratings improvements at a number of other investment firms, including Monness Crespi & Hardt and Imperial Capital.

Among analysts who follow Crocs stock, Crocs has a consensus rating of “Hold.” The consensus among analysts currently shows a target price of $16.16 per share of Crocs stock.

In November, rumors circulated that Crocs was still discussing possible investment deals with venture capital firms[5], but was no longer the likely target of a takeover.

Over the past year, Crocs stock has remained flat. CROX stock closed at $15.26 per share on Tuesday.

Endnotes:
  1. CROX: http://studio-5.financialcontent.com/investplace/quote?Symbol=CROX
  2. a vote of confidence from another investment firm: http://tickerreport.com/banking-finance/131604/crocs-stock-rating-upgraded-by-piper-jaffray-crox/
  3. [Image]: http://investorplace.com/wp-content/uploads/2011/06/crocs_logo_credit_flickr_630.jpg
  4. Flickr: http://www.flickr.com/photos/only_me/
  5. discussing possible investment deals with venture capital firms: http://investorplace.com/2013/11/crox-stock-still-kicking/#.UvuGBXlhOf0

Source URL: http://investorplace.com/2014/02/crocs-upgrade-shoots-crox-stock-higher/
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