Monness Crespi & Hardt Lowers Crocs (NASDAQ:CROX) Price Target to $92.00

Crocs (NASDAQ:CROX) had its price objective lowered by equities researchers at Monness Crespi & Hardt from $140.00 to $92.00 in a research note issued on Friday, MarketBeat.com reports. The brokerage currently has a “buy” rating on the textile maker’s stock. Monness Crespi & Hardt’s price objective indicates a potential upside of 22.28% from the company’s previous close.

A number of other equities research analysts have also weighed in on the company. Barclays lowered their target price on Crocs from $122.00 to $119.00 and set an “overweight” rating for the company in a research note on Friday, May 9th. Piper Sandler lowered their price target on 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 lowered their price target on Crocs from $138.00 to $127.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Bank of America lowered their price target on Crocs from $140.00 to $135.00 and set a “buy” rating for the company in a research report on Monday, June 30th. Finally, The Goldman Sachs Group lowered their price target on Crocs from $88.00 to $87.00 and set a “sell” rating for the company in a research report on Tuesday, July 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $110.85.

Crocs Trading Up 1.1%

NASDAQ CROX opened at $75.24 on Friday. Crocs has a 1-year low of $73.76 and a 1-year high of $151.13. The company has a current ratio of 1.54, a quick ratio of 0.97 and a debt-to-equity ratio of 0.97. The stock has a 50-day moving average of $101.82 and a 200-day moving average of $102.22. The firm has a market cap of $4.22 billion, a PE ratio of 20.17, a price-to-earnings-growth ratio of 1.56 and a beta of 1.41.

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

Insider Activity

In other news, Director Ian Bickley sold 3,044 shares of the firm’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $115.89, for a total value of $352,769.16. Following the transaction, the director directly owned 27,505 shares in the company, valued at $3,187,554.45. This trade represents a 9.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 3.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Crocs

Institutional investors and hedge funds have recently modified their holdings of the company. Costello Asset Management INC purchased a new position in shares of Crocs in the 1st quarter worth $32,000. Larson Financial Group LLC raised its holdings in Crocs by 541.8% in the 1st quarter. Larson Financial Group LLC now owns 353 shares of the textile maker’s stock worth $37,000 after purchasing an additional 298 shares during the period. IMA Advisory Services Inc. bought a new position in Crocs in the 1st quarter worth $40,000. Brooklyn Investment Group bought a new position in Crocs in the 1st quarter worth $40,000. Finally, Allworth Financial LP raised its holdings in Crocs by 120.7% in the 2nd quarter. Allworth Financial LP now owns 448 shares of the textile maker’s stock worth $45,000 after purchasing an additional 245 shares during the period. 93.44% of the stock is currently owned by hedge funds and other 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.