Crocs (NASDAQ:CROX) Downgraded to Hold Rating by StockNews.com

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

Several other research firms have also issued reports on CROX. Robert W. Baird reduced their target price on shares of Crocs from $190.00 to $180.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Barclays decreased their price objective on shares of Crocs from $164.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 29th. Loop Capital lowered Crocs from a “buy” rating to a “hold” rating and cut their price target for the stock from $150.00 to $110.00 in a research note on Thursday, November 7th. Needham & Company LLC initiated coverage on Crocs in a research report on Friday, November 22nd. They issued a “buy” rating and a $116.00 price objective on the stock. Finally, UBS Group cut their target price on Crocs from $146.00 to $122.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. Five research 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 an average rating of “Moderate Buy” and an average price target of $148.80.

Crocs Stock Up 0.3 %

CROX opened at $110.04 on Friday. The firm’s 50 day simple moving average is $107.41 and its two-hundred day simple moving average is $126.00. The company has a market capitalization of $6.41 billion, a PE ratio of 7.98, a PEG ratio of 1.14 and a beta of 1.95. Crocs has a 1-year low of $94.50 and a 1-year 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.

Crocs (NASDAQ:CROX) last announced its earnings results on Tuesday, October 29th. The textile maker reported $3.60 EPS for the quarter, topping analysts’ consensus estimates of $3.10 by $0.50. Crocs had a return on equity of 49.70% and a net margin of 20.50%. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same period last year, the firm earned $3.25 EPS. Crocs’s revenue for the quarter was up 1.6% compared to the same quarter last year. As a group, equities analysts forecast that Crocs will post 12.93 EPS for the current year.

Insider Activity

In related news, Director John B. Replogle acquired 2,240 shares of Crocs stock in a transaction on Wednesday, October 30th. The shares were bought 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 of the company’s stock, valued at $1,047,630.40. The trade was a 31.71 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Susan L. Healy acquired 1,000 shares of the stock in a transaction dated Wednesday, November 13th. The stock was bought 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 approximately $2,258,404.40. The trade was a 4.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 2.72% of the company’s stock.

Institutional Investors Weigh In On Crocs

Several hedge funds and other institutional investors have recently made changes to their positions in CROX. GHP Investment Advisors Inc. grew its holdings in Crocs by 375.0% during the 2nd quarter. GHP Investment Advisors Inc. now owns 228 shares of the textile maker’s stock valued at $33,000 after purchasing an additional 180 shares during the last quarter. Financial Management Professionals Inc. grew its stake in shares of Crocs by 11,200.0% during the third quarter. Financial Management Professionals Inc. now owns 226 shares of the textile maker’s stock valued at $33,000 after buying an additional 224 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of Crocs by 64.9% in the third quarter. UMB Bank n.a. now owns 305 shares of the textile maker’s stock worth $44,000 after buying an additional 120 shares during the period. V Square Quantitative Management LLC lifted its stake in shares of Crocs by 83.0% during the 3rd quarter. V Square Quantitative Management LLC now owns 313 shares of the textile maker’s stock worth $45,000 after acquiring an additional 142 shares during the last quarter. Finally, Avior Wealth Management LLC boosted its holdings in Crocs by 109.5% during the 3rd quarter. Avior Wealth Management LLC now owns 398 shares of the textile maker’s stock valued at $58,000 after acquiring an additional 208 shares during the period. 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.