Bank of America Cuts Crocs (NASDAQ:CROX) Price Target to $98.00

Crocs (NASDAQ:CROX) had its price objective trimmed by Bank of America from $99.00 to $98.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the textile maker’s stock.

A number of other research firms also recently issued reports on CROX. Stifel Nicolaus restated a “hold” rating and issued a $85.00 price target (down from $127.00) on shares of Crocs in a research note on Friday, August 8th. Needham & Company LLC increased their target price on Crocs from $89.00 to $100.00 and gave the company a “buy” rating in a report on Friday, August 29th. The Goldman Sachs Group cut their price target on Crocs from $88.00 to $87.00 and set a “sell” rating for the company in a research note on Tuesday, July 22nd. UBS Group reduced their price target on shares of Crocs from $110.00 to $85.00 and set a “neutral” rating for the company in a research report on Monday, August 11th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Crocs in a research note on Wednesday, October 8th. Seven analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Crocs has an average rating of “Hold” and an average price target of $101.92.

Crocs Stock Up 2.0%

CROX opened at $85.15 on Tuesday. The stock has a market capitalization of $4.65 billion, a price-to-earnings ratio of 22.83, a PEG ratio of 1.93 and a beta of 1.43. The firm has a 50 day moving average price of $82.92 and a 200-day moving average price of $94.73. Crocs has a twelve month low of $73.76 and a twelve month high of $139.96. 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 (NASDAQ:CROX) last issued its 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 net margin of 5.72% and a return on equity of 44.15%. The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter last year, the company posted $4.01 earnings per share. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. Crocs has set its Q3 2025 guidance at EPS. Equities research analysts forecast that Crocs will post 13.2 earnings per share for the current year.

Insider Transactions at Crocs

In related news, Director John B. Replogle acquired 3,261 shares of the firm’s stock in a transaction dated Friday, August 8th. The shares were purchased at an average price of $76.69 per share, with a total value of $250,086.09. Following the completion of the purchase, the director directly owned 15,417 shares of the company’s stock, valued at $1,182,329.73. This represents a 26.83% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Susan L. Healy acquired 2,000 shares of the stock in a transaction dated Tuesday, August 12th. The shares were bought at an average cost of $76.56 per share, for a total transaction of $153,120.00. Following the completion of the transaction, the executive vice president owned 50,078 shares in the company, valued at approximately $3,833,971.68. This represents a 4.16% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Crocs

Several large investors have recently made changes to their positions in the business. GAMMA Investing LLC grew its position in shares of Crocs by 60.5% during the first quarter. GAMMA Investing LLC now owns 1,361 shares of the textile maker’s stock worth $145,000 after purchasing an additional 513 shares in the last quarter. QRG Capital Management Inc. boosted its stake in Crocs by 13.2% in the 1st quarter. QRG Capital Management Inc. now owns 2,459 shares of the textile maker’s stock worth $261,000 after purchasing an additional 287 shares during the period. Blue Trust Inc. grew its holdings in Crocs by 30.7% during the 1st quarter. Blue Trust Inc. now owns 2,455 shares of the textile maker’s stock valued at $261,000 after buying an additional 576 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of Crocs by 246.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 18,747 shares of the textile maker’s stock valued at $1,991,000 after buying an additional 13,332 shares during the last quarter. Finally, Kirr Marbach & Co. LLC IN raised its position in shares of Crocs by 18.2% during the first quarter. Kirr Marbach & Co. LLC IN now owns 29,404 shares of the textile maker’s stock valued at $3,123,000 after buying an additional 4,525 shares during the last quarter. 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.