Crocs (NASDAQ:CROX) Lowered to “Hold” Rating by StockNews.com

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

CROX has been the subject of several other research reports. Guggenheim reiterated a “buy” rating and issued a $155.00 price objective on shares of Crocs in a research report on Friday, December 6th. Loop Capital downgraded shares of Crocs from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $150.00 to $110.00 in a report on Thursday, November 7th. Needham & Company LLC initiated coverage on shares of Crocs in a report on Friday, November 22nd. They issued a “buy” rating and a $116.00 target price for the company. Robert W. Baird reduced their price target on shares of Crocs from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Finally, Piper Sandler restated an “overweight” rating and issued a $170.00 price target on shares of Crocs in a report on Friday, August 23rd. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $148.80.

Crocs Trading Up 1.7 %

NASDAQ:CROX opened at $113.37 on Thursday. The stock has a fifty day moving average price of $116.66 and a 200 day moving average price of $132.71. The company has a current ratio of 1.43, a quick ratio of 0.90 and a debt-to-equity ratio of 0.82. Crocs has a 12-month low of $85.71 and a 12-month high of $165.32. The firm has a market cap of $6.61 billion, a PE ratio of 8.22, a price-to-earnings-growth ratio of 1.11 and a beta of 1.98.

Crocs (NASDAQ:CROX) last posted its quarterly earnings results on Tuesday, October 29th. The textile maker reported $3.60 earnings per share for the quarter, beating analysts’ consensus estimates of $3.10 by $0.50. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Crocs had a return on equity of 49.70% and a net margin of 20.50%. Crocs’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period last year, the firm earned $3.25 earnings per share. Sell-side analysts anticipate that Crocs will post 12.93 earnings per share for the current fiscal year.

Insider Activity

In related news, Director John B. Replogle purchased 2,240 shares of the business’s stock in a transaction dated 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 purchase, the director now directly owns 9,304 shares in the company, valued at $1,047,630.40. This trade represents a 31.71 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CFO Susan L. Healy bought 1,000 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was purchased at an average price of $99.70 per share, for a total transaction of $99,700.00. Following the completion of the acquisition, the chief financial officer now owns 22,652 shares of the company’s stock, valued at approximately $2,258,404.40. This trade represents a 4.62 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 2.72% of the company’s stock.

Institutional Trading of Crocs

Hedge funds and other institutional investors have recently modified their holdings of the stock. Davis Investment Partners LLC lifted its position in Crocs by 0.8% during the third quarter. Davis Investment Partners LLC now owns 9,673 shares of the textile maker’s stock worth $1,362,000 after acquiring an additional 77 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in Crocs by 8.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,041 shares of the textile maker’s stock valued at $152,000 after purchasing an additional 85 shares during the period. Central Pacific Bank Trust Division grew its holdings in Crocs by 8.0% in the 3rd quarter. Central Pacific Bank Trust Division now owns 1,350 shares of the textile maker’s stock valued at $195,000 after buying an additional 100 shares in the last quarter. Covestor Ltd increased its position in Crocs by 10.3% during the 3rd quarter. Covestor Ltd now owns 1,225 shares of the textile maker’s stock worth $178,000 after buying an additional 114 shares during the period. Finally, Clear Harbor Asset Management LLC lifted its holdings in shares of Crocs by 4.0% during the third quarter. Clear Harbor Asset Management LLC now owns 3,014 shares of the textile maker’s stock worth $436,000 after buying an additional 115 shares in the last quarter. Institutional investors and hedge funds own 93.44% of the company’s stock.

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.