UBS Group Lowers Crocs (NASDAQ:CROX) Price Target to $122.00

Crocs (NASDAQ:CROX) had its target price dropped by equities research analysts at UBS Group from $146.00 to $122.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the textile maker’s stock. UBS Group’s target price suggests a potential upside of 9.92% from the company’s current price.

CROX has been the topic of a number of other research reports. KeyCorp raised their price target on Crocs from $149.00 to $155.00 and gave the stock an “overweight” rating in a research report on Thursday, September 26th. Robert W. Baird dropped their target price on shares of Crocs from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Wednesday. StockNews.com upgraded shares of Crocs from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Wedbush reaffirmed an “outperform” rating and issued a $170.00 price objective on shares of Crocs in a research note on Monday, July 29th. Finally, Monness Crespi & Hardt decreased their target price on shares of Crocs from $170.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $156.77.

Crocs Stock Performance

Crocs stock traded down $0.59 during midday trading on Wednesday, reaching $110.99. 1,531,571 shares of the company’s stock were exchanged, compared to its average volume of 1,316,431. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.95 and a current ratio of 1.50. Crocs has a 52 week low of $74.00 and a 52 week high of $165.32. The stock’s 50-day simple moving average is $137.69 and its 200 day simple moving average is $138.65. The firm has a market cap of $6.59 billion, a price-to-earnings ratio of 8.33, a P/E/G ratio of 1.35 and a beta of 1.99.

Crocs (NASDAQ:CROX) last released its quarterly earnings results on Tuesday, October 29th. The textile maker reported $3.60 earnings per share for the quarter, topping the consensus estimate of $3.13 by $0.47. Crocs had a return on equity of 53.20% and a net margin of 20.02%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same period last year, the firm posted $3.25 EPS. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, analysts expect that Crocs will post 12.88 earnings per share for the current fiscal year.

Insider Transactions at Crocs

In other Crocs news, Director Douglas J. Treff sold 10,594 shares of Crocs stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $132.38, for a total value of $1,402,433.72. Following the completion of the sale, the director now directly owns 81,254 shares of the company’s stock, valued at approximately $10,756,404.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Douglas J. Treff sold 10,594 shares of Crocs stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $132.38, for a total transaction of $1,402,433.72. Following the transaction, the director now owns 81,254 shares of the company’s stock, valued at $10,756,404.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John B. Replogle bought 1,996 shares of the stock in a transaction dated Friday, August 2nd. The stock was purchased at an average price of $123.96 per share, with a total value of $247,424.16. Following the acquisition, the director now owns 7,064 shares of the company’s stock, valued at $875,653.44. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 2.72% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State of Michigan Retirement System raised its position in shares of Crocs by 2.1% in the first quarter. State of Michigan Retirement System now owns 14,838 shares of the textile maker’s stock valued at $2,134,000 after purchasing an additional 300 shares during the period. State of Alaska Department of Revenue lifted its holdings in Crocs by 39.1% during the 1st quarter. State of Alaska Department of Revenue now owns 9,103 shares of the textile maker’s stock worth $1,308,000 after purchasing an additional 2,558 shares in the last quarter. Private Advisor Group LLC grew its stake in Crocs by 10.0% during the first quarter. Private Advisor Group LLC now owns 18,918 shares of the textile maker’s stock valued at $2,720,000 after acquiring an additional 1,717 shares in the last quarter. Flynn Zito Capital Management LLC bought a new position in Crocs in the 1st quarter valued at $249,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Crocs in the first quarter worth $3,859,000. 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.