Market Overview

Stifel Comments On Crocs Following New CEO Announcement

Share:

Crocs, Inc. (NASDAQ: CROX) on Monday announced the appointment of Gregg Ribatt as its new CEO, effective at the end of January.

"We are pleased with the appointment of Gregg Ribatt as CEO," Stifel analyst Jim Duffy wrote in a note to clients. "Ribatt is largely credit with Sperry's emergence as a lifestyle brand and significant growth prior to its acquisition by Wolverine."

The analyst maintained a Buy rating and $19 price target.

Duffy does note that the appointment was “generally anticipated” following his appointment to the Board of Directors last year along with an expiring non-compete clause with Wolverine. The analyst adds that Ribatt's expertise is in products and operations, which will bode well and complement the company's current management team.

Duffy isn't anticipating a change in strategy at the company and expects continued execution of the current strategic performance improvement plan. As such, the analyst expects the company to execute on its strategic initiatives to generate long-term shareholder value.

Latest Ratings for CROX

DateFirmActionFromTo
Feb 2021Pivotal ResearchMaintainsBuy
Oct 2020Piper SandlerMaintainsOverweight
Oct 2020UBSMaintainsNeutral

View More Analyst Ratings for CROX
View the Latest Analyst Ratings

 

Related Articles (CROX)

View Comments and Join the Discussion!

Posted-In: Gregg Ribatt Jim Duffy StifelAnalyst Color Management Analyst Ratings

Latest Ratings

StockFirmActionPT
WKHSRoth CapitalMaintains15.0
HCKTRoth CapitalMaintains22.0
ARECRoth CapitalInitiates Coverage On7.5
SLABWells FargoMaintains180.0
PENWells FargoMaintains310.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com