Market Overview

Blackstone, Pending New CEO are 'Game-Changers' for Croc, Buckingham Says

Related CROX
Wunderlich Goes 'Sole Searching' In Footwear
3 Management Changes You May Have Missed This Week
Sterne Agee backs new direction at Crocs (Seeking Alpha)

On Thursday, Buckingham Research Group initiated coverage on Crocs (NASDAQ: CROX) with a Buy rating and $20 price target.

“Blackstone's involvement and the pending new CEO announcement are game-changers for CROX long-term,” said analyst Scott Krasik.

Earnings per share growth in 2015 will be driven by “expense cuts and share buybacks,” according to the analyst.

The $20 price target is based on “shares trading at 21x (peer group average) our FY16 EPS estimate of $1.21 discounted back two years.”

Shares are up 0.4 percent to $14.85 in Thursday's trading.

Latest Ratings for CROX

May 2015Standpoint ResearchDowngradesBuyHold
Jan 2015Piper JaffrayDowngradesOverweightNeutral
Dec 2014Sterne AgeeUpgradesNeutralBuy

View More Analyst Ratings for CROX
View the Latest Analyst Ratings

Posted-In: Buckingham Research Scott KrasikAnalyst Color Price Target Initiation Analyst Ratings


Related Articles (CROX)

Around the Web, We're Loving...

Get Benzinga's Newsletters