Crocs (NASDAQ:CROX) Downgraded by Loop Capital to Hold

Crocs (NASDAQ:CROX - Get Free Report) was downgraded by equities research analysts at Loop Capital from a "buy" rating to a "hold" rating in a research report issued on Thursday, MarketBeat Ratings reports. They currently have a $110.00 target price on the textile maker's stock, down from their previous target price of $150.00. Loop Capital's price objective suggests a potential upside of 7.99% from the company's current price.

Several other equities research analysts also recently weighed in on the company. Robert W. Baird decreased their price objective on Crocs from $190.00 to $180.00 and set an "outperform" rating for the company in a report on Wednesday, October 30th. KeyCorp lowered their price objective on shares of Crocs from $155.00 to $150.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 30th. Piper Sandler reaffirmed an "overweight" rating and issued a $170.00 target price on shares of Crocs in a report on Friday, August 23rd. UBS Group lowered their price target on Crocs from $146.00 to $122.00 and set a "neutral" rating on the stock in a report on Wednesday, October 30th. Finally, Wedbush restated an "outperform" rating and set a $170.00 price target on shares of Crocs in a research note on Monday, July 29th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $151.14.

Crocs Stock Down 0.9 %

Shares of NASDAQ CROX traded down $0.88 during mid-day trading on Thursday, reaching $101.86. The company had a trading volume of 1,792,629 shares, compared to its average volume of 1,341,674. The firm has a 50 day simple moving average of $133.36 and a two-hundred day simple moving average of $137.91. Crocs has a 52-week low of $77.16 and a 52-week high of $165.32. The company has a current ratio of 1.43, a quick ratio of 0.90 and a debt-to-equity ratio of 0.82. The stock has a market cap of $5.94 billion, a P/E ratio of 7.54, a PEG ratio of 1.07 and a beta of 2.01.

Crocs (NASDAQ:CROX - Get Free Report) last released its quarterly earnings data 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. 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 the consensus estimate of $1.05 billion. During the same quarter in the prior year, the firm posted $3.25 earnings per share. Crocs's revenue for the quarter was up 1.6% on a year-over-year basis. Sell-side analysts predict that Crocs will post 12.93 earnings per share for the current year.

Insider Buying and Selling

In other news, Director John B. Replogle acquired 2,240 shares of Crocs stock in a transaction that occurred on Wednesday, October 30th. The stock was purchased at an average cost of $112.60 per share, with a total value of $252,224.00. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 2.72% of the company's stock.

Hedge Funds Weigh In On Crocs

Several hedge funds have recently added to or reduced their stakes in the business. Pathstone Holdings LLC grew its position in shares of Crocs by 24.2% in the third quarter. Pathstone Holdings LLC now owns 12,797 shares of the textile maker's stock valued at $1,853,000 after purchasing an additional 2,491 shares during the last quarter. Quest Partners LLC acquired a new stake in Crocs during the 3rd quarter valued at $905,000. Natixis Advisors LLC increased its position in Crocs by 17.1% during the third quarter. Natixis Advisors LLC now owns 12,221 shares of the textile maker's stock worth $1,770,000 after buying an additional 1,783 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Crocs by 11.1% in the third quarter. Empowered Funds LLC now owns 54,343 shares of the textile maker's stock worth $7,869,000 after acquiring an additional 5,422 shares during the last quarter. Finally, Sheaff Brock Investment Advisors LLC lifted its position in shares of Crocs by 19.2% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 2,713 shares of the textile maker's stock valued at $393,000 after acquiring an additional 437 shares in the last quarter. 93.44% of the stock is currently owned by hedge funds and other institutional investors.

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.