Crocs (NASDAQ:CROX) Downgraded to Hold Rating by StockNews.com

StockNews.com lowered shares of Crocs (NASDAQ:CROX) from a buy rating to a hold rating in a research report report published on Thursday.

Other equities analysts also recently issued research reports about the stock. Barclays decreased their price target on shares of Crocs from $164.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. Loop Capital cut Crocs from a “buy” rating to a “hold” rating and reduced their target price for the company from $150.00 to $110.00 in a report on Thursday, November 7th. Guggenheim restated a “buy” rating and set a $155.00 price target on shares of Crocs in a research note on Friday, December 6th. Needham & Company LLC started coverage on Crocs in a research note on Friday, November 22nd. They issued a “buy” rating and a $116.00 price objective on the stock. Finally, Piper Sandler reissued an “overweight” rating and set a $170.00 target price on shares of Crocs in a research report on Friday, August 23rd. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Crocs presently has an average rating of “Moderate Buy” and an average target price of $148.80.

Crocs Price Performance

CROX stock opened at $113.11 on Thursday. The stock has a market capitalization of $6.59 billion, a price-to-earnings ratio of 8.18, a price-to-earnings-growth ratio of 1.14 and a beta of 1.98. The company has a quick ratio of 0.90, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. Crocs has a 52-week low of $85.71 and a 52-week high of $165.32. The stock’s fifty day simple moving average is $116.16 and its 200-day simple moving average is $132.57.

Crocs (NASDAQ:CROX) last posted its quarterly earnings results on Tuesday, October 29th. The textile maker reported $3.60 EPS for the quarter, beating the consensus estimate of $3.10 by $0.50. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Crocs had a return on equity of 49.70% and a net margin of 20.50%. The firm’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.25 EPS. Equities research analysts expect that Crocs will post 12.93 EPS for the current year.

Insider Activity

In related news, Director John B. Replogle purchased 2,240 shares of Crocs stock in a transaction dated Wednesday, October 30th. The stock was bought at an average cost of $112.60 per share, with a total value of $252,224.00. Following the purchase, the director now owns 9,304 shares in the company, valued at approximately $1,047,630.40. The trade was a 31.71 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Susan L. Healy acquired 1,000 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were bought at an average price of $99.70 per share, for a total transaction of $99,700.00. Following the purchase, the chief financial officer now directly owns 22,652 shares of the company’s stock, valued at approximately $2,258,404.40. This trade represents a 4.62 % 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 Investors Weigh In On Crocs

A number of institutional investors have recently added to or reduced their stakes in the company. FMR LLC raised its stake in shares of Crocs by 4.8% in the 3rd quarter. FMR LLC now owns 8,907,591 shares of the textile maker’s stock worth $1,289,908,000 after buying an additional 406,287 shares in the last quarter. State Street Corp grew its holdings in Crocs by 0.7% during the third quarter. State Street Corp now owns 1,812,493 shares of the textile maker’s stock worth $262,467,000 after acquiring an additional 13,467 shares during the period. Pacer Advisors Inc. raised its position in Crocs by 33.8% in the third quarter. Pacer Advisors Inc. now owns 1,459,654 shares of the textile maker’s stock worth $211,372,000 after acquiring an additional 368,557 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in Crocs by 1.3% in the 2nd quarter. Thrivent Financial for Lutherans now owns 901,973 shares of the textile maker’s stock valued at $131,634,000 after acquiring an additional 11,986 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Crocs by 12.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 790,225 shares of the textile maker’s stock valued at $115,322,000 after purchasing an additional 89,610 shares in the last quarter. 93.44% of the stock is currently owned by institutional investors and hedge funds.

About Crocs

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.