StockNews.com Downgrades Crocs (NASDAQ:CROX) to Hold

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

Other equities analysts have also recently issued reports about the stock. Williams Trading upgraded shares of Crocs from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $135.00 to $163.00 in a research report on Thursday, August 22nd. Monness Crespi & Hardt lowered their price target on Crocs from $170.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. 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 for the company. UBS Group lowered their target price on Crocs from $146.00 to $122.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. Finally, Barclays reduced their price target on shares of Crocs from $164.00 to $125.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $148.80.

Crocs Trading Up 0.2 %

NASDAQ:CROX opened at $113.11 on Thursday. The stock has a fifty day simple moving average of $116.16 and a 200 day simple moving average of $132.57. The company has a quick ratio of 0.90, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. The firm 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. Crocs has a 1-year low of $85.71 and a 1-year high of $165.32.

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

Insider Activity at Crocs

In related news, Director John B. Replogle acquired 2,240 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were acquired 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 of the company’s stock, valued at approximately $1,047,630.40. The trade was a 31.71 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Susan L. Healy bought 1,000 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were bought at an average cost of $99.70 per share, with a total value of $99,700.00. Following the transaction, 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. 2.72% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CROX. Davis Investment Partners LLC boosted its holdings in Crocs by 0.8% during the third quarter. Davis Investment Partners LLC now owns 9,673 shares of the textile maker’s stock valued at $1,362,000 after acquiring an additional 77 shares during the period. Nisa Investment Advisors LLC boosted its stake in Crocs by 8.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,041 shares of the textile maker’s stock valued at $152,000 after purchasing an additional 85 shares during the period. Central Pacific Bank Trust Division grew its holdings in Crocs by 8.0% in the 3rd quarter. Central Pacific Bank Trust Division now owns 1,350 shares of the textile maker’s stock valued at $195,000 after buying an additional 100 shares during the last quarter. Covestor Ltd increased its position in Crocs by 10.3% in the 3rd quarter. Covestor Ltd now owns 1,225 shares of the textile maker’s stock worth $178,000 after buying an additional 114 shares during the period. Finally, Clear Harbor Asset Management LLC increased its position in Crocs by 4.0% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 3,014 shares of the textile maker’s stock worth $436,000 after buying an additional 115 shares during the period. 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.