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

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

A number of other equities analysts have also recently issued reports on the stock. Monness Crespi & Hardt cut their target price on shares of Crocs from $170.00 to $140.00 and set a "buy" rating on the stock in a report on Wednesday. Loop Capital reduced their price objective on Crocs from $155.00 to $150.00 and set a "buy" rating for the company in a research report on Wednesday. Guggenheim lowered their price objective on Crocs from $182.00 to $155.00 and set a "buy" rating for the company in a research note on Wednesday. Piper Sandler reiterated an "overweight" rating and issued a $170.00 target price on shares of Crocs in a research note on Friday, August 23rd. Finally, Wedbush restated an "outperform" rating and set a $170.00 price target on shares of Crocs in a research report on Monday, July 29th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $154.00.

Crocs Stock Performance

NASDAQ:CROX traded down $2.58 during trading hours on Wednesday, reaching $109.00. 3,538,032 shares of the stock were exchanged, compared to its average volume of 1,326,220. Crocs has a 52 week low of $74.00 and a 52 week high of $165.32. The company has a quick ratio of 0.95, a current ratio of 1.50 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $6.47 billion, a P/E ratio of 8.20, a P/E/G ratio of 1.35 and a beta of 1.99. The firm has a 50 day simple moving average of $137.05 and a 200-day simple moving average of $138.45.

Crocs (NASDAQ:CROX - Get Free Report) last released its earnings results on Tuesday, October 29th. The textile maker reported $3.60 earnings per share for the quarter, beating the consensus estimate of $3.13 by $0.47. Crocs had a net margin of 20.02% and a return on equity of 53.20%. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the previous year, the firm earned $3.25 earnings per share. The firm's revenue for the quarter was up 1.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Crocs will post 12.88 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Douglas J. Treff sold 10,594 shares of the company's stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $132.38, for a total value of $1,402,433.72. Following the completion of the sale, the director now owns 81,254 shares in the company, valued at $10,756,404.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Director John B. Replogle acquired 2,240 shares of the business's stock in a transaction dated Wednesday, October 30th. The stock was bought at an average price of $112.60 per share, for a total transaction of $252,224.00. Following the transaction, the director now owns 9,304 shares of the company's stock, valued at approximately $1,047,630.40. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Douglas J. Treff sold 10,594 shares of the firm's stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $132.38, for a total value of $1,402,433.72. Following the sale, the director now directly owns 81,254 shares of the company's stock, valued at approximately $10,756,404.52. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.72% of the company's stock.

Institutional Investors Weigh In On Crocs

Large investors have recently made changes to their positions in the company. National Bank of Canada FI grew its position in Crocs by 8,437.1% during the 2nd quarter. National Bank of Canada FI now owns 182,695 shares of the textile maker's stock worth $26,993,000 after purchasing an additional 180,555 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of Crocs by 15.1% during the second quarter. Pacer Advisors Inc. now owns 1,091,097 shares of the textile maker's stock valued at $159,235,000 after buying an additional 142,944 shares in the last quarter. Marshall Wace LLP acquired a new position in Crocs during the second quarter valued at $19,598,000. LSV Asset Management lifted its stake in Crocs by 73.3% in the 1st quarter. LSV Asset Management now owns 300,413 shares of the textile maker's stock worth $43,199,000 after acquiring an additional 127,100 shares in the last quarter. Finally, Distillate Capital Partners LLC acquired a new stake in Crocs during the 2nd quarter worth about $13,483,000. Institutional investors and hedge funds 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.

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