Crocs (NASDAQ:CROX) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Crocs (NASDAQ:CROX) from a buy rating to a hold rating in a research report released on Saturday.

A number of other research firms have also issued reports on CROX. Monness Crespi & Hardt dropped their target price on Crocs from $170.00 to $140.00 and set a “buy” 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 dropped their price objective for the company from $150.00 to $110.00 in a research note on Thursday, November 7th. UBS Group reduced their target price on shares of Crocs from $146.00 to $122.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. KeyCorp dropped their price target on shares of Crocs from $155.00 to $150.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Finally, Robert W. Baird reduced their price objective on shares of Crocs from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Crocs has an average rating of “Moderate Buy” and a consensus price target of $148.80.

Crocs Stock Performance

Shares of Crocs stock opened at $105.77 on Friday. The stock has a market capitalization of $6.16 billion, a price-to-earnings ratio of 7.67, a PEG ratio of 1.14 and a beta of 1.95. The firm’s fifty day simple moving average is $107.40 and its 200-day simple moving average is $125.54. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.90. Crocs has a 12 month low of $94.50 and a 12 month 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, 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 business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the prior year, the company earned $3.25 earnings per share. The business’s revenue was up 1.6% compared to the same quarter last year. As a group, equities analysts forecast that Crocs will post 12.93 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director John B. Replogle purchased 2,240 shares of the stock in a transaction dated Wednesday, October 30th. The stock was acquired at an average cost of $112.60 per share, for a total transaction of $252,224.00. Following the completion of the acquisition, the director now directly owns 9,304 shares in the company, valued at $1,047,630.40. This represents a 31.71 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Susan L. Healy bought 1,000 shares of the stock in a transaction on 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 directly owns 22,652 shares in the company, valued at $2,258,404.40. This trade represents a 4.62 % increase in their position. The disclosure for this purchase can be found here. 2.72% of the stock is owned by company insiders.

Hedge Funds Weigh In On Crocs

A number of large investors have recently bought and sold shares of the stock. Crossmark Global Holdings Inc. increased its stake in Crocs by 55.8% during the third quarter. Crossmark Global Holdings Inc. now owns 40,192 shares of the textile maker’s stock worth $5,820,000 after acquiring an additional 14,387 shares during the last quarter. Meeder Asset Management Inc. grew its holdings in shares of Crocs by 585.5% during the 3rd quarter. Meeder Asset Management Inc. now owns 24,349 shares of the textile maker’s stock worth $3,526,000 after purchasing an additional 20,797 shares during the period. Catalyst Capital Advisors LLC increased its position in Crocs by 2,775.6% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 7,908 shares of the textile maker’s stock worth $1,145,000 after purchasing an additional 7,633 shares in the last quarter. Aigen Investment Management LP purchased a new position in Crocs in the third quarter valued at approximately $2,024,000. Finally, International Assets Investment Management LLC acquired a new position in Crocs during the third quarter valued at approximately $2,076,000. Hedge funds and other institutional investors 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.