Crocs (NASDAQ:CROX) Cut to Hold at StockNews.com

Crocs (NASDAQ:CROX) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

A number of other equities analysts have also recently commented on CROX. Piper Sandler reiterated an “overweight” rating and issued a $170.00 target price on shares of Crocs in a report on Friday, August 23rd. UBS Group lowered their price target on Crocs from $146.00 to $122.00 and set a “neutral” rating for the company in a research report on Wednesday. Raymond James cut shares of Crocs from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Williams Trading upgraded shares of Crocs from a “hold” rating to a “buy” rating and raised their target price for the stock from $135.00 to $163.00 in a report on Thursday, August 22nd. Finally, Barclays dropped their price target on shares of Crocs from $164.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Crocs presently has an average rating of “Moderate Buy” and a consensus price target of $154.00.

Crocs Price Performance

NASDAQ:CROX opened at $107.82 on Wednesday. The business’s 50-day moving average is $137.05 and its 200 day moving average is $138.45. Crocs has a 12 month low of $74.00 and a 12 month high of $165.32. The company has a market capitalization of $6.40 billion, a P/E ratio of 8.11, a P/E/G ratio of 1.35 and a beta of 1.99. The company has a current ratio of 1.50, a quick ratio of 0.95 and a debt-to-equity ratio of 0.93.

Crocs (NASDAQ:CROX) last posted its earnings results on Tuesday, October 29th. The textile maker reported $3.60 EPS for the quarter, beating analysts’ consensus estimates of $3.13 by $0.47. Crocs had a return on equity of 53.20% and a net margin of 20.02%. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the prior year, the company earned $3.25 EPS. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. On average, equities research analysts forecast that Crocs will post 12.88 earnings per share for the current fiscal year.

Insider Activity

In other news, Director John B. Replogle acquired 2,240 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were bought at an average price of $112.60 per share, with a total value of $252,224.00. Following the completion of the purchase, the director now directly owns 9,304 shares in the company, valued at $1,047,630.40. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director John B. Replogle acquired 2,240 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was purchased at an average cost of $112.60 per share, for a total transaction of $252,224.00. Following the completion of the acquisition, the director now directly owns 9,304 shares of the company’s stock, valued at $1,047,630.40. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Douglas J. Treff sold 10,594 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $132.38, for a total transaction of $1,402,433.72. Following the transaction, the director now owns 81,254 shares in the company, valued at approximately $10,756,404.52. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.72% of the company’s stock.

Hedge Funds Weigh In On Crocs

Institutional investors have recently bought and sold shares of the business. Nordea Investment Management AB increased its holdings in shares of Crocs by 17.0% in the 1st quarter. Nordea Investment Management AB now owns 51,189 shares of the textile maker’s stock valued at $7,292,000 after acquiring an additional 7,448 shares during the period. Boston Partners purchased a new position in Crocs in the first quarter valued at about $10,771,000. Russell Investments Group Ltd. raised its holdings in Crocs by 78.2% in the first quarter. Russell Investments Group Ltd. now owns 35,142 shares of the textile maker’s stock worth $5,053,000 after purchasing an additional 15,418 shares in the last quarter. Motley Fool Asset Management LLC purchased a new stake in shares of Crocs during the first quarter valued at about $1,387,000. Finally, Virtu Financial LLC bought a new stake in shares of Crocs in the 2nd quarter valued at about $3,358,000. 93.44% of the stock is owned by hedge funds and other institutional investors.

Crocs Company Profile

Crocs, Inc, together with its subsidiaries, designs, develops, manufactures, markets, distributes, and sells casual lifestyle footwear and accessories for men, women, and children under Crocs and HEYDUDE Brand in the United States and internationally. The company offers various footwear products, including clogs, sandals, slides, flips, wedges, platforms, socks, boots, charms, flip flops, sneakers, and slippers.