Seaport Res Ptn Brokers Reduce Earnings Estimates for Crocs

Crocs, Inc. (NASDAQ:CROX - Free Report) - Stock analysts at Seaport Res Ptn lowered their FY2024 earnings per share estimates for shares of Crocs in a research note issued to investors on Tuesday, October 29th. Seaport Res Ptn analyst M. Kummetz now forecasts that the textile maker will post earnings per share of $12.91 for the year, down from their prior forecast of $12.95. The consensus estimate for Crocs' current full-year earnings is $12.94 per share. Seaport Res Ptn also issued estimates for Crocs' Q4 2024 earnings at $2.25 EPS, FY2025 earnings at $12.91 EPS and FY2026 earnings at $13.95 EPS.

Several other equities research analysts have also recently weighed in on CROX. KeyCorp decreased their price target on Crocs from $155.00 to $150.00 and set an "overweight" rating for the company in a research note on Wednesday. Williams Trading raised Crocs from a "hold" rating to a "buy" rating and raised their target price for the stock from $135.00 to $163.00 in a research note on Thursday, August 22nd. Guggenheim cut their price target on Crocs from $182.00 to $155.00 and set a "buy" rating on the stock in a report on Wednesday. Raymond James lowered Crocs from an "outperform" rating to a "market perform" rating in a report on Wednesday. Finally, Robert W. Baird dropped their target price on Crocs from $190.00 to $180.00 and set an "outperform" rating on the stock in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $154.00.

Crocs Price Performance

Shares of NASDAQ CROX traded down $1.61 during mid-day trading on Friday, hitting $106.21. 1,879,177 shares of the stock traded hands, compared to its average volume of 1,333,763. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.95. Crocs has a twelve month low of $74.00 and a twelve month high of $165.32. The company has a market cap of $6.19 billion, a PE ratio of 7.70, a price-to-earnings-growth ratio of 1.10 and a beta of 1.99. The firm has a 50 day simple moving average of $135.60 and a two-hundred day simple moving average of $138.11.

Crocs (NASDAQ:CROX - Get Free Report) last issued its earnings results on Tuesday, October 29th. The textile maker reported $3.60 earnings per share for the quarter, beating analysts' consensus estimates of $3.10 by $0.50. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. Crocs had a return on equity of 49.70% and a net margin of 20.50%. The company's revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the business posted $3.25 EPS.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. State of Michigan Retirement System increased its stake in shares of Crocs by 2.1% during the first quarter. State of Michigan Retirement System now owns 14,838 shares of the textile maker's stock worth $2,134,000 after purchasing an additional 300 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in Crocs by 39.1% in the 1st quarter. State of Alaska Department of Revenue now owns 9,103 shares of the textile maker's stock valued at $1,308,000 after purchasing an additional 2,558 shares during the last quarter. Private Advisor Group LLC boosted its holdings in Crocs by 10.0% in the 1st quarter. Private Advisor Group LLC now owns 18,918 shares of the textile maker's stock valued at $2,720,000 after purchasing an additional 1,717 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in Crocs in the 1st quarter valued at about $3,859,000. Finally, Peterson Wealth Services acquired a new position in Crocs in the 1st quarter valued at about $828,000. Institutional investors and hedge funds own 93.44% of the company's stock.

Insider Activity at Crocs

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

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.