Crocs (NASDAQ:CROX) Cut to “Hold” at StockNews.com

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

A number of other research analysts have also recently commented on the company. KeyCorp reduced their target price on Crocs from $155.00 to $150.00 and set an “overweight” rating on the stock in a research note on Wednesday. UBS Group reduced their price objective on Crocs from $146.00 to $122.00 and set a “neutral” rating on the stock in a research report on Wednesday. Williams Trading upgraded Crocs from a “hold” rating to a “buy” rating and boosted their target price for the stock from $135.00 to $163.00 in a research report on Thursday, August 22nd. Raymond James cut shares of Crocs from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Finally, Piper Sandler restated an “overweight” rating and issued a $170.00 price objective on shares of Crocs in a report on Friday, August 23rd. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $154.00.

Crocs Stock Down 1.5 %

Shares of NASDAQ CROX opened at $106.21 on Wednesday. The company has a current ratio of 1.43, a quick ratio of 0.95 and a debt-to-equity ratio of 0.82. The business has a 50-day moving average of $135.60 and a 200-day moving average of $138.11. The firm has a market capitalization of $6.19 billion, a price-to-earnings ratio of 7.70, a PEG ratio of 1.10 and a beta of 2.01. Crocs has a 12 month low of $74.00 and a 12 month high of $165.32.

Crocs (NASDAQ:CROX) last announced its earnings results on Tuesday, October 29th. The textile maker reported $3.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.10 by $0.50. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. Crocs had a net margin of 20.50% and a return on equity of 49.70%. Crocs’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the previous year, the business posted $3.25 earnings per share. Sell-side analysts expect that Crocs will post 12.94 earnings per share for the current fiscal year.

Insider Buying and Selling at Crocs

In other Crocs news, Director Douglas J. Treff sold 10,594 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 81,254 shares in the company, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Douglas J. Treff sold 10,594 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $132.38, for a total value of $1,402,433.72. Following the sale, the director now directly owns 81,254 shares of the company’s stock, valued at $10,756,404.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John B. Replogle purchased 2,240 shares of Crocs stock in a transaction that occurred on Wednesday, October 30th. The shares were acquired at an average price of $112.60 per share, for a total transaction of $252,224.00. Following the acquisition, the director now owns 9,304 shares in the company, valued at $1,047,630.40. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.72% of the stock is currently owned by corporate insiders.

Institutional Trading of Crocs

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CROX. National Bank of Canada FI increased its position in Crocs by 8,437.1% during the 2nd quarter. National Bank of Canada FI now owns 182,695 shares of the textile maker’s stock valued at $26,993,000 after purchasing an additional 180,555 shares during the period. Pacer Advisors Inc. increased its position in shares of Crocs by 15.1% during the second quarter. Pacer Advisors Inc. now owns 1,091,097 shares of the textile maker’s stock valued at $159,235,000 after buying an additional 142,944 shares during the period. Marshall Wace LLP purchased a new position in shares of Crocs during the second quarter valued at about $19,598,000. LSV Asset Management raised its stake in Crocs by 73.3% in the first quarter. LSV Asset Management now owns 300,413 shares of the textile maker’s stock worth $43,199,000 after buying an additional 127,100 shares in the last quarter. Finally, Distillate Capital Partners LLC purchased a new stake in Crocs in the second quarter worth about $13,483,000. Hedge funds and other institutional investors own 93.44% of the company’s stock.

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.