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CROX: Crocs Stock Gets a Bump From Upgrade

Another firm upgraded the stock earlier this month

Shares of footwear-maker Crocs (CROX) climbed more than 1% in Thursday morning trading. CROX shares were boosted by news that an investment firm had raised its rating for CROX stock.

crocs_185x185Analysts at CL King upgraded their outlook for Crocs, giving the company a “Strong Buy” rating. Previously, CL King had a “Neutral” rating on CROX stock. CL King’s move follows an upgrade of CROX stock by Zacks earlier this month. Zacks raised its rating for Crocs shares from “Underperform” to “Neutral” on May 5, The Legacy notes.

Trade of the Day: Crocs (CROX)
Trade of the Day: Crocs (CROX)

On Tuesday, Crocs said that had appointed Andrew Rees as president. Rees, a brand management expert, was recruited from worldwide management consulting firm LEK Consulting. The company is currently searching for a replacement for former CEO John McCarvel, who left the shoe-maker last month. Rees will serve as principle executive officer until McCarvel’s successor is chosen.

Crocs stock closed at $14.80 a share on Wednesday.

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Article printed from InvestorPlace Media, https://investorplace.com/2014/05/crox-crocs-stock-gets-bump-upgrade/.

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