Raymond James Downgrades Crocs (NASDAQ:CROX) to Market Perform

Raymond James lowered shares of Crocs (NASDAQ:CROX) from an outperform rating to a market perform rating in a research report report published on Wednesday morning, Marketbeat Ratings reports.

CROX has been the subject of a number of other research reports. Barclays reduced their target price on Crocs from $164.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. UBS Group lowered their price target on Crocs from $148.00 to $146.00 and set a “neutral” rating for the company in a report on Tuesday, July 16th. Piper Sandler reiterated an “overweight” rating and set a $170.00 target price on shares of Crocs in a report on Friday, August 23rd. StockNews.com raised Crocs from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Finally, KeyCorp boosted their price target on Crocs from $149.00 to $155.00 and gave the stock an “overweight” rating in a research report on Thursday, September 26th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Crocs presently has an average rating of “Moderate Buy” and an average price target of $154.00.

Crocs Stock Performance

Shares of CROX opened at $106.21 on Wednesday. The company has a current ratio of 1.43, a quick ratio of 0.95 and a debt-to-equity ratio of 0.82. The firm has a market cap of $6.19 billion, a PE ratio of 7.70, a price-to-earnings-growth ratio of 1.10 and a beta of 2.01. The company’s 50 day simple moving average is $135.60 and its 200-day simple moving average is $138.11. Crocs has a 12-month low of $74.00 and a 12-month high of $165.32.

Crocs (NASDAQ:CROX) last announced its earnings results on Tuesday, October 29th. The textile maker reported $3.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.10 by $0.50. Crocs had a net margin of 20.50% and a return on equity of 49.70%. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period last year, the firm posted $3.25 earnings per share. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. As a group, equities analysts predict that Crocs will post 12.94 EPS for the current year.

Insider Buying and Selling at Crocs

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

Institutional Investors Weigh In On Crocs

Institutional investors have recently made changes to their positions in the company. Financial Management Professionals Inc. grew its stake in Crocs by 11,200.0% during the 3rd quarter. Financial Management Professionals Inc. now owns 226 shares of the textile maker’s stock worth $33,000 after buying an additional 224 shares during the last quarter. GHP Investment Advisors Inc. grew its stake in Crocs by 375.0% during the 2nd quarter. GHP Investment Advisors Inc. now owns 228 shares of the textile maker’s stock worth $33,000 after buying an additional 180 shares during the last quarter. UMB Bank n.a. grew its stake in Crocs by 64.9% during the 3rd quarter. UMB Bank n.a. now owns 305 shares of the textile maker’s stock worth $44,000 after buying an additional 120 shares during the last quarter. V Square Quantitative Management LLC grew its stake in Crocs by 83.0% during the 3rd quarter. V Square Quantitative Management LLC now owns 313 shares of the textile maker’s stock worth $45,000 after buying an additional 142 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in Crocs by 19.3% during the 2nd quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker’s stock worth $144,000 after buying an additional 162 shares during the last quarter. 93.44% of the stock is currently owned by 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.