Crocs (NASDAQ:CROX) Shares Gap Down – Here’s What Happened

Crocs, Inc. (NASDAQ:CROX) gapped down before the market opened on Thursday . The stock had previously closed at $111.54, but opened at $98.05. Crocs shares last traded at $92.55, with a volume of 811,158 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Robert W. Baird reduced their target price on shares of Crocs from $180.00 to $150.00 and set an “outperform” rating for the company in a research note on Monday, February 10th. Guggenheim reduced their price objective on shares of Crocs from $155.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. KeyCorp lowered their target price on shares of Crocs from $150.00 to $120.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $129.00 price target on shares of Crocs in a report on Thursday, February 13th. Finally, Barclays decreased their price objective on Crocs from $125.00 to $122.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $144.53.

Crocs Stock Down 15.4 %

The company has a current ratio of 1.18, a quick ratio of 0.70 and a debt-to-equity ratio of 0.74. The stock has a market cap of $5.29 billion, a P/E ratio of 5.90, a price-to-earnings-growth ratio of 1.80 and a beta of 1.84. The stock’s fifty day moving average price is $103.20 and its 200 day moving average price is $112.52.

Crocs (NASDAQ:CROX) last released its quarterly earnings results on Thursday, February 13th. The textile maker reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.25. Crocs had a return on equity of 46.27% and a net margin of 23.16%. As a group, research analysts forecast that Crocs, Inc. will post 13.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Adam Michaels sold 15,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $106.69, for a total transaction of $1,600,350.00. Following the completion of the sale, the executive vice president now owns 89,323 shares of the company’s stock, valued at approximately $9,529,870.87. This represents a 14.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Shannon Sisler sold 4,659 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $109.75, for a total transaction of $511,325.25. Following the sale, the executive vice president now directly owns 29,299 shares of the company’s stock, valued at $3,215,565.25. The trade was a 13.72 % decrease in their position. The disclosure for this sale can be found here. 2.72% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Crocs

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. UMB Bank n.a. raised its holdings in Crocs by 46.6% in the 4th quarter. UMB Bank n.a. now owns 447 shares of the textile maker’s stock worth $49,000 after purchasing an additional 142 shares in the last quarter. Allianz SE purchased a new stake in Crocs in the fourth quarter worth about $53,000. Ameriflex Group Inc. bought a new stake in Crocs during the 4th quarter valued at approximately $54,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Crocs during the 3rd quarter worth approximately $73,000. Finally, TD Waterhouse Canada Inc. raised its position in shares of Crocs by 425.6% in the 4th quarter. TD Waterhouse Canada Inc. now owns 678 shares of the textile maker’s stock worth $74,000 after acquiring an additional 549 shares in the last quarter. Institutional investors own 93.44% of the company’s stock.

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.