Crocs (NASDAQ:CROX) Rating Lowered to "Hold" at StockNews.com

Crocs (NASDAQ:CROX - Get Free Report) was downgraded by investment analysts at StockNews.com from a "buy" rating to a "hold" rating in a research note issued to investors on Thursday.

A number of other research firms have also recently commented on CROX. UBS Group cut their price target on shares of Crocs from $146.00 to $122.00 and set a "neutral" rating on the stock in a report on Wednesday, October 30th. Loop Capital cut shares of Crocs from a "buy" rating to a "hold" rating and cut their price target for the company from $150.00 to $110.00 in a report on Thursday, November 7th. Barclays cut 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. Williams Trading upgraded shares of Crocs from a "hold" rating to a "buy" rating and increased their price objective for the company from $135.00 to $163.00 in a research report on Thursday, August 22nd. Finally, Piper Sandler restated an "overweight" rating and set a $170.00 price objective on shares of Crocs in a research report on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Crocs presently has an average rating of "Moderate Buy" and a consensus price target of $148.80.

Crocs Stock Down 0.4 %

CROX traded down $0.43 during midday trading on Thursday, reaching $112.94. The company's stock had a trading volume of 1,067,602 shares, compared to its average volume of 1,349,427. The firm has a market capitalization of $6.58 billion, a price-to-earnings ratio of 8.19, a PEG ratio of 1.11 and a beta of 1.98. The company has a current ratio of 1.43, a quick ratio of 0.90 and a debt-to-equity ratio of 0.82. Crocs has a 1 year low of $85.71 and a 1 year high of $165.32. The stock's 50-day moving average is $116.16 and its 200-day moving average is $132.57.

Crocs (NASDAQ:CROX - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The textile maker reported $3.60 EPS for the quarter, beating analysts' consensus estimates of $3.10 by $0.50. Crocs had a net margin of 20.50% and a return on equity of 49.70%. The firm had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.05 billion. During the same quarter in the prior 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. As a group, research analysts expect that Crocs will post 12.93 EPS for the current year.

Insiders Place Their Bets

In other news, Director John B. Replogle acquired 2,240 shares of Crocs stock in a transaction dated 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 purchase, the director now directly owns 9,304 shares in the company, valued at approximately $1,047,630.40. This trade represents a 31.71 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Susan L. Healy acquired 1,000 shares of Crocs stock in a transaction dated Wednesday, November 13th. The stock was purchased at an average cost of $99.70 per share, with a total value of $99,700.00. Following the completion of the purchase, the chief financial officer now owns 22,652 shares of the company's stock, valued at approximately $2,258,404.40. This represents a 4.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.72% of the company's stock.

Institutional Trading of Crocs

Hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC grew its stake in Crocs by 4.8% during the third quarter. FMR LLC now owns 8,907,591 shares of the textile maker's stock valued at $1,289,908,000 after acquiring an additional 406,287 shares in the last quarter. State Street Corp grew its stake in Crocs by 0.7% during the third quarter. State Street Corp now owns 1,812,493 shares of the textile maker's stock valued at $262,467,000 after acquiring an additional 13,467 shares in the last quarter. Pacer Advisors Inc. grew its stake in Crocs by 33.8% during the third quarter. Pacer Advisors Inc. now owns 1,459,654 shares of the textile maker's stock valued at $211,372,000 after acquiring an additional 368,557 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in Crocs by 1.3% during the second 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 in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Crocs by 12.8% during the second quarter. Dimensional Fund Advisors LP now owns 790,225 shares of the textile maker's stock valued at $115,322,000 after acquiring an additional 89,610 shares in the last quarter. 93.44% of the stock is 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.