Crocs (CROX): Improvement But Future Still Unclear - Susquehanna

Susquehanna analyst, Sam Poser, reiterated his Positive rating on shares of Crocs (NASDAQ: CROX) and raised his price target to $8 from $7 after the company reported adjusted EPS of $0.23 vs. consensus of $0.14. The beat was driven by higher than anticipated gross margin and lower than expected SG&A.

The analyst stated "we are encouraged by CROX's continued efforts to improve margins, right-size inventory, and elevate the brand. We also believe the Wholesale businesses in each region are beginning to find their base. However, we believe much work remains to restore sustainable profitability".

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 $8.50 yesterday.

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