Bank of America Lowers Crocs (NASDAQ:CROX) Price Target to $99.00

Crocs (NASDAQ:CROX) had its price target decreased by stock analysts at Bank of America from $135.00 to $99.00 in a report released on Friday,Benzinga reports. The firm currently has a “buy” rating on the textile maker’s stock. Bank of America‘s price objective indicates a potential upside of 31.58% from the company’s current price.

A number of other research firms also recently weighed in on CROX. Piper Sandler decreased their price target on shares of Crocs from $125.00 to $115.00 and set an “overweight” rating for the company in a research report on Friday, April 11th. Stifel Nicolaus decreased their price target on shares of Crocs from $138.00 to $127.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Barclays decreased their price target on shares of Crocs from $122.00 to $119.00 and set an “overweight” rating for the company in a research report on Friday, May 9th. Monness Crespi & Hardt decreased their price target on shares of Crocs from $140.00 to $92.00 and set a “buy” rating for the company in a research report on Friday. Finally, UBS Group reissued a “neutral” rating and set a $110.00 price target (up previously from $105.00) on shares of Crocs in a research report on Monday, July 28th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $110.85.

Crocs Trading Up 1.1%

Shares of CROX stock opened at $75.24 on Friday. The firm has a market cap of $4.22 billion, a P/E ratio of 20.17, a PEG ratio of 1.56 and a beta of 1.41. Crocs has a 1-year low of $73.76 and a 1-year high of $151.13. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.54 and a quick ratio of 0.97. The firm’s 50-day simple moving average is $101.82 and its 200-day simple moving average is $102.22.

Crocs (NASDAQ:CROX) last announced its quarterly earnings data on Thursday, August 7th. The textile maker reported $4.23 earnings per share for the quarter, topping the consensus estimate of $4.01 by $0.22. Crocs had a net margin of 5.72% and a return on equity of 44.15%. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period in the prior year, the firm posted $4.01 EPS. The company’s revenue was up 3.4% on a year-over-year basis. As a group, equities analysts forecast that Crocs will post 13.2 EPS for the current year.

Insiders Place Their Bets

In other Crocs news, Director Ian Bickley sold 3,044 shares of Crocs stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $115.89, for a total transaction of $352,769.16. Following the transaction, the director owned 27,505 shares of the company’s stock, valued at $3,187,554.45. The trade was a 9.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Crocs

Several large investors have recently made changes to their positions in the company. Costello Asset Management INC acquired a new position in Crocs during the first quarter valued at approximately $32,000. Larson Financial Group LLC grew its holdings in Crocs by 541.8% during the first quarter. Larson Financial Group LLC now owns 353 shares of the textile maker’s stock valued at $37,000 after purchasing an additional 298 shares during the last quarter. IMA Advisory Services Inc. acquired a new position in Crocs during the first quarter valued at approximately $40,000. Brooklyn Investment Group acquired a new position in Crocs during the first quarter valued at approximately $40,000. Finally, Allworth Financial LP grew its holdings in Crocs by 120.7% during the second quarter. Allworth Financial LP now owns 448 shares of the textile maker’s stock valued at $45,000 after purchasing an additional 245 shares during the last quarter. Institutional investors 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.