Keep an eye on Crocs (CROX).
After running from a low of $20 to $149, the stock continues to trend higher.
From here, CROX could potentially see $160 after announcing it expects to have “$500M of shares in 2021 by the end of the fiscal third quarter. In addition, the company announced it will enter into a new Accelerated Share Repurchase plan that will conclude by the end of 2021.
Earlier this month, the board of directors approved an increase to the company’s repurchase authorization such that $1.05B will remain available for future common stock repurchases after the announced ASR is completed,” as reported by The Fly.
Better, the company is targeting $5 billion in sales by 2026, and just reiterated 60% to 65% sales growth for full-year 2021.
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