New highs for CROX, JOSB and TASR

Posted Jun 12th 2007 6:02PM by Michael Fowlkes
Filed under: Major Movement, Crocs Inc (CROX), Taser Intl Inc (TASR)

The market is down today as investors weigh the consequences of a rising interest rates, but not all stocks are getting taking a hit. As always, even in down markets some stocks are going to flourish, and today three of the stocks that have been able to look a down market in the face while climbing to new highs are Crocs, Inc. (NASDAQ: CROX), Jos. A. Bank Clothiers, Inc. (NASDAQ: JOSB) and TASER International, Inc. (NASDAQ: TASR).

Let's take a quick look at why each of these stocks have been able to trade up to new highs:

1) Crocs, Inc. (NASDAQ: CROX) finished the day up 0.2% to $91.18 up $0.21 after setting a new 52 week high earlier in the session up at $93.58. Here is a stock that has been on fire lately, and was pushed to a new high today after positive comments on the stock from Jim Cramer. As Brent Archer pointed out earlier today, Cramer just plain loves Crocs. Citing that the recent consumer frenzy surrounding CROX products has led to inventory problems to to the point where stores just can't seem to keep the shoes on the shelves. If you think that CROX is expensive now with shares up over $90 a share, Cramer thinks that this is the beginning of a much larger move to the upside once analysts start taking notice and initiating coverage on this stock. It seems like everyone is talking about Crocs these days and don't be surprised to see more upside out of this one.

2) Jos. A. Bank Clothiers was able to trade up to a new 52 week high today of $46.15 and ended up finishing out the session at $43.99 up 0.3% on the day after strong earnings and a broker upgrade. Last night after the market close JOSB posted its first quarter earnings and the company showed a strong 42% jump in profit to $8.4 million. At this level, the stock earned 45 cents per share which easily beat the 41 cents per share that analysts had been expecting. Following last nights strong showing, the stock also benefited today from an upgrade by First Albany which lifted their rating on the stock from a "sell" to a "neutral".

3) Taser International continues to benefit from speculation that newly elected President Nikolas Sarkozy is going to outfit the French police with Tasers. Sarkozy won the recent presidential elections last month, and should his party, the Union for a Popular Movement, put on a good showing in the final round of legislative elections on the 17th they will have the largest majority since 1958. With speculation that this is indeed going to occur, shares of TASR have been on fire lately. The stock rose 9.1% yesterday and tacked on another 1.3% today to $12.05. Earlier in the day the stock set a new 52 week high of $12.50.

How important are the upcoming elections to Taser? If Sarkozy is able to follow through on his plans to purchase Taser's for every police officer in France, worldwide sales would climb to $300 million. Compare that with the current estimates of $88 million during 2007 and $109 million in 2008. Yes, I think it's safe to say this would be a huge deal for Taser.

Michael Fowlkes has worked as a stock trader for seven years and spent the last two years working as an analyst for the online investment advisory service Investor'sObserver.

Tags: Jim Cramer, JimCramer

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Reader Comments (Page 1 of 1)

6-13-2007 @ 10:10AM

cliffjumper said...

I have seen plenty of Crocs shoes everywhere I go. I dont see where the shortage is. I also see plenty of knockoffs. I want to see what happens when Nike starts making their own Croc type of shoe.