UPDATE: Sterne Agee Upgrades Crocs (CROX) to Buy
Get Alerts CROX Hot Sheet
Rating Summary:
19 Buy, 9 Hold, 1 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 11
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Sterne Agee upgraded Crocs (NASDAQ: CROX) from Neutral to Buy with a price target of $16.00. Analyst Sam Poser said the hiring of Gregg Ribatt as CEO is very positive for the company.
"Mr. Ribatt has 20 years of footwear industry experience. Most recently he served as President and CEO of Performance & Lifestyle Group (PLG) of Collective Brands. He oversaw Saucony, Ked's, Sperry, and Stride Rite. Prior to that he was on the board of Stuart Weitzman, and was the COO of Bennett Footwear. Mr. Ribatt's very strong operational background, knowledge of the footwear industry, and very good reputation lead us to this upgrade. Raising our 2016 EPS estimate from $0.80 to $0.92 and establishing a $16 PT," said Poser.
For an analyst ratings summary and ratings history on Crocs click here. For more ratings news on Crocs click here.
Shares of Crocs closed at $12.16 yesterday.
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