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CROX

Crocs

$30.92

-0.18 (-0.58%)

07:04
01/14/19
01/14
07:04
01/14/19
07:04

Crocs raises Q4 revenue guidance $211M-$214M from $195M-$205M

Revenue consensus $202.65M. Crocs updated its guidance for the fourth quarter and full year ended December 31, 2018 in anticipation of its presentation at the 21st Annual ICR Conference. CEO Andrew Rees said, "We had one of our best fourth quarters in years and as a result, have increased our revenue guidance to $211M to $214M, well above the top end of our previous guidance of $195M to $205M. These results clearly demonstrate that consumer demand for clogs and sandals is year-round. Classic and lined clogs were particular standouts, and exceptional results in North America contributed to our outperformance. We are thrilled to finish the year on such a high note and are looking forward to another successful year in 2019." The company now anticipates Q4 revenues of $211M to $214M; prior guidance was $195M to $205M. Revenues were $199.1M in the fourth quarter of 2017. The Company continues to expect gross margin to increase by 80 to 100 basis points over 45.4% in the fourth quarter of 2017. The Company now expects SG&A to be approximately 54% of revenues compared to 60.6% of revenues in the fourth quarter of 2017.

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CROX Crocs
$30.92

-0.18 (-0.58%)

12/31/18
PIPR
12/31/18
NO CHANGE
Target $30
PIPR
Overweight
Piper favors Nike, Under Armour, Ulta, Crocs and Funko as 2019 brand ideas
Piper Jaffray analyst Erinn Murphy lowered her price targets across the Global Lifestyle Brands group to reflect the recent market volatility. The analyst, however, feels good about the Holiday while remaining "wary on multi-brand retailers on a longer-term basis." Murphy favors Nike (NKE), Under Armour (UAA), Ulta Beauty (ULTA), Crocs (CROX) and Funko (FNKO) as 2019 ideas. She sees Under Armour as one of the better names to own into 2019 with "what still appears to be a healthy amount of skepticism around the stock." Management's 2019 targets will ultimately prove conservative and upside should continue throughout the year, Murphy tells investors in a research note. The analyst keeps an Overweight rating on Under Armour but lowered her price target for the shares to $30 from $32. She cut targets on 15 names in the Global Lifestyle Brands space, including Underweight-rated e.l.f. Beauty (ELF) to $8 from $10, Overweight-rated G-III Apparel (GIII) to $40 from $50, Overweight-rated PVH Corp. (PVH) to $140 from $150, Overweight-rated Ulta Beauty to $295 from $320 and Overweight-rated VF Corp. (VFC) to $91 from $104.
01/02/19
SUSQ
01/02/19
UPGRADE
SUSQ
Positive
Crocs upgraded to Positive from Neutral at Susquehanna
01/02/19
SUSQ
01/02/19
UPGRADE
Target $31
SUSQ
Positive
Crocs upgraded to Positive at Susquehanna
As reported previously, Susquehanna analyst Sam Poser upgraded Crocs (CROX) to Positive from Neutral. The analyst cited the recent repurchase and conversion of Blackstone's (BX) preferred stock position as it removes a substantial financial overhang from the company's capital structure and shifts more control of the business into the hands of existing and potential shareholders. In addition, the business continues to accelerate as processes and products improve and the brand gains traction, said Poser, who raised his price target to $31 from $25 on Crocs shares.
01/02/19
01/02/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Bausch Health (BHC) upgraded to Overweight from Neutral at Piper Jaffray with analyst David Amsellem saying while he's been "unrelentingly negative" on the company for years, it is time to "turn the page following a closer look at the business." 2. Crocs (CROX) and Shoe Carnival (SCVL) were upgraded to Positive from Neutral at Susquehanna. 3. Stryker (SYK) upgraded to Outperform from In Line at Evercore ISI. 4. CBS (CBS) upgraded to Overweight from Equal Weight at Stephens with analyst Kyle Evans saying he believes investor sentiment is poised to improve on the name in 2019 and that the company can continue to post solid results driven by underlying unit growth and stronger pricing. 5. Sirius XM (SIRI) upgraded to Overweight from Neutral at JPMorgan with analyst Sebastiano Petti saying Sirius XM shares are attractively following the 25% pullback from the 2018 highs. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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FB

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LIN

Linde plc

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Conagra Brands

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UQM

UQM Technologies

$1.10

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SNY

Sanofi

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RTN

Raytheon

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IBCP

Independent Bank

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GOOG

Alphabet

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LAD

Lithia Motors

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CYDY

CytoDyn

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ABT

Abbott

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SFUN

Fang Holdings

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TS

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