Crocs (NASDAQ:CROX) Downgraded by Loop Capital to Hold

Loop Capital lowered shares of Crocs (NASDAQ:CROX) from a buy rating to a hold rating in a research note published on Thursday morning, Marketbeat reports. Loop Capital currently has $110.00 target price on the textile maker’s stock, down from their previous target price of $150.00.

Several other analysts also recently issued reports on CROX. Guggenheim decreased their price objective on shares of Crocs from $182.00 to $155.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Williams Trading upgraded Crocs from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $135.00 to $163.00 in a research note on Thursday, August 22nd. KeyCorp decreased their target price on Crocs from $155.00 to $150.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Piper Sandler reaffirmed an “overweight” rating and issued a $170.00 price target on shares of Crocs in a research report on Friday, August 23rd. Finally, Robert W. Baird reduced their price objective on Crocs from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Crocs presently has an average rating of “Moderate Buy” and a consensus price target of $151.14.

Crocs Trading Down 0.5 %

Shares of NASDAQ:CROX opened at $101.30 on Thursday. The company has a current ratio of 1.43, a quick ratio of 0.90 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $5.90 billion, a PE ratio of 7.35, a P/E/G ratio of 1.04 and a beta of 2.01. Crocs has a 1 year low of $77.16 and a 1 year high of $165.32. The firm has a fifty day moving average price of $131.59 and a 200 day moving average price of $137.65.

Crocs (NASDAQ:CROX) last issued its quarterly earnings data on Tuesday, October 29th. The textile maker reported $3.60 EPS for the quarter, beating analysts’ consensus estimates of $3.10 by $0.50. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. Crocs had a return on equity of 49.70% and a net margin of 20.50%. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.25 EPS. Analysts expect that Crocs will post 12.93 EPS for the current fiscal year.

Insider Activity at Crocs

In other Crocs news, Director John B. Replogle purchased 2,240 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were acquired at an average cost of $112.60 per share, for a total transaction 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. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 2.72% of the stock is currently owned by insiders.

Institutional Trading of Crocs

Several hedge funds have recently modified their holdings of CROX. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Crocs during the first quarter worth $3,859,000. Janney Montgomery Scott LLC lifted its holdings in Crocs by 18.5% in the first quarter. Janney Montgomery Scott LLC now owns 17,015 shares of the textile maker’s stock valued at $2,447,000 after buying an additional 2,658 shares during the period. GSA Capital Partners LLP grew its holdings in Crocs by 9.7% during the 1st quarter. GSA Capital Partners LLP now owns 4,368 shares of the textile maker’s stock worth $628,000 after acquiring an additional 385 shares during the period. Texas Permanent School Fund Corp boosted its position in shares of Crocs by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 53,008 shares of the textile maker’s stock worth $7,623,000 after purchasing an additional 687 shares during the last quarter. Finally, LSV Asset Management increased its holdings in Crocs by 73.3% in the first quarter. LSV Asset Management now owns 300,413 shares of the textile maker’s stock valued at $43,199,000 after purchasing an additional 127,100 shares during the last quarter. 93.44% of the stock is owned by institutional investors.

About Crocs

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.