Stifel Nicolaus Reaffirms Hold Rating for Crocs (NASDAQ:CROX)

Crocs (NASDAQ:CROX)‘s stock had its “hold” rating reiterated by analysts at Stifel Nicolaus in a report issued on Friday, Marketbeat reports. They currently have a $85.00 target price on the textile maker’s stock, down from their previous target price of $127.00. Stifel Nicolaus’ target price points to a potential upside of 12.97% from the stock’s previous close.

CROX has been the subject of several other research reports. Monness Crespi & Hardt cut their target price on shares of Crocs from $140.00 to $92.00 and set a “buy” rating for the company in a research note on Friday. Bank of America decreased their target price on Crocs from $135.00 to $99.00 and set a “buy” rating for the company in a report on Friday. Piper Sandler decreased their price target on Crocs from $125.00 to $115.00 and set an “overweight” rating for the company in a report on Friday, April 11th. Needham & Company LLC decreased their price target on Crocs from $129.00 to $89.00 and set a “buy” rating for the company in a report on Thursday. Finally, The Goldman Sachs Group decreased their price target on Crocs from $88.00 to $87.00 and set a “sell” rating for the company in a report on Tuesday, July 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Crocs has a consensus rating of “Moderate Buy” and a consensus target price of $110.85.

Crocs Trading Up 1.1%

NASDAQ:CROX opened at $75.24 on Friday. The company has a market capitalization 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. The company has a quick ratio of 0.97, a current ratio of 1.54 and a debt-to-equity ratio of 0.97. Crocs has a 52-week low of $73.76 and a 52-week high of $151.13. The stock has a fifty day simple moving average of $101.82 and a 200-day simple moving average of $102.22.

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

Insider Activity

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

Institutional Investors Weigh In On Crocs

Several institutional investors and hedge funds have recently made changes to their positions in the company. Ontario Teachers Pension Plan Board increased its position in Crocs by 12.7% in the second quarter. Ontario Teachers Pension Plan Board now owns 17,807 shares of the textile maker’s stock worth $1,803,000 after buying an additional 2,007 shares during the period. Creative Planning boosted its stake in Crocs by 11.0% during the second quarter. Creative Planning now owns 9,682 shares of the textile maker’s stock valued at $981,000 after buying an additional 958 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Crocs by 7.5% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,407 shares of the textile maker’s stock valued at $1,459,000 after buying an additional 1,007 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. boosted its position in shares of Crocs by 39.2% in the 2nd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 31,277 shares of the textile maker’s stock valued at $3,153,000 after purchasing an additional 8,808 shares during the period. Finally, denkapparat Operations GmbH acquired a new position in shares of Crocs in the 2nd quarter valued at $296,000. 93.44% of the stock is owned by institutional investors and hedge funds.

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.