Crocs (NASDAQ:CROX) Downgraded by StockNews.com

StockNews.com lowered shares of Crocs (NASDAQ:CROXGet Rating) from a hold rating to a sell rating in a research note issued to investors on Friday morning.

A number of other research analysts have also recently commented on CROX. Piper Sandler decreased their price objective on Crocs from $120.00 to $90.00 and set an overweight rating on the stock in a report on Tuesday, July 26th. Stifel Nicolaus decreased their price objective on Crocs from $59.00 to $54.00 in a report on Wednesday, July 20th. UBS Group decreased their price objective on Crocs from $73.00 to $59.00 and set a neutral rating on the stock in a report on Friday, July 15th. B. Riley decreased their price objective on Crocs from $120.00 to $116.00 in a report on Friday, August 5th. Finally, OTR Global cut Crocs to a positive rating in a research note on Tuesday, July 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Crocs currently has a consensus rating of Moderate Buy and a consensus target price of $94.25.

Crocs Trading Up 2.6 %

Shares of Crocs stock opened at $80.62 on Friday. The stock has a market cap of $4.97 billion, a P/E ratio of 9.20, a P/E/G ratio of 0.51 and a beta of 1.99. The stock’s 50 day simple moving average is $68.25 and its 200-day simple moving average is $66.51. Crocs has a 1-year low of $46.08 and a 1-year high of $183.88. The company has a debt-to-equity ratio of 5.58, a current ratio of 1.94 and a quick ratio of 1.11.

Crocs (NASDAQ:CROXGet Rating) last issued its earnings results on Thursday, August 4th. The textile maker reported $3.24 earnings per share for the quarter, topping the consensus estimate of $2.73 by $0.51. Crocs had a return on equity of 202.79% and a net margin of 19.08%. The business had revenue of $964.60 million for the quarter, compared to analysts’ expectations of $938.93 million. During the same period in the previous year, the firm posted $2.23 EPS. The business’s revenue for the quarter was up 50.6% compared to the same quarter last year. Analysts predict that Crocs will post 10.04 EPS for the current fiscal year.

Insider Transactions at Crocs

In other news, President Michelle Poole sold 7,320 shares of the company’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $80.26, for a total transaction of $587,503.20. Following the sale, the president now owns 168,905 shares of the company’s stock, valued at $13,556,315.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, President Michelle Poole sold 7,320 shares of the company’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $80.26, for a total transaction of $587,503.20. Following the sale, the president now owns 168,905 shares of the company’s stock, valued at $13,556,315.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Shannon Sisler sold 3,164 shares of the company’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $80.00, for a total value of $253,120.00. Following the sale, the executive vice president now directly owns 49,303 shares in the company, valued at approximately $3,944,240. The disclosure for this sale can be found here. Corporate insiders own 2.71% of the company’s stock.

Hedge Funds Weigh In On Crocs

Large investors have recently bought and sold shares of the business. Western Pacific Wealth Management LP purchased a new position in Crocs in the fourth quarter valued at $38,000. FinTrust Capital Advisors LLC increased its holdings in Crocs by 100.0% in the first quarter. FinTrust Capital Advisors LLC now owns 400 shares of the textile maker’s stock valued at $31,000 after buying an additional 200 shares during the last quarter. Koshinski Asset Management Inc. increased its holdings in Crocs by 1,716.7% in the first quarter. Koshinski Asset Management Inc. now owns 436 shares of the textile maker’s stock valued at $33,000 after buying an additional 412 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in Crocs in the first quarter valued at $36,000. Finally, UMB Bank N A MO purchased a new position in Crocs in the fourth quarter valued at $63,000. Hedge funds and other institutional investors own 79.96% of the company’s stock.

About Crocs

(Get Rating)

Crocs, Inc, together with its subsidiaries, designs, develops, manufactures, markets, and distributes casual lifestyle footwear and accessories for men, women, and children. It offers various footwear products, including clogs, sandals, slides, flip-flops, boots, flats, wedges, platforms, socks, shoe charms, loafers, sneakers, and slippers under the Crocs brand name.

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