Crocs (NASDAQ:CROX) Price Target Cut to $115.00 by Analysts at Piper Sandler

Crocs (NASDAQ:CROX) had its price objective reduced by Piper Sandler from $125.00 to $115.00 in a report published on Friday morning,Benzinga reports. They currently have an overweight rating on the textile maker’s stock.

CROX has been the subject of several other research reports. Needham & Company LLC reissued a “buy” rating and set a $129.00 price target on shares of Crocs in a report on Thursday, February 13th. Stifel Nicolaus decreased their target price on shares of Crocs from $138.00 to $127.00 and set a “buy” rating for the company in a research report on Thursday. UBS Group boosted their price objective on Crocs from $122.00 to $132.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Bank of America increased their target price on shares of Crocs from $144.00 to $153.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Finally, Loop Capital lifted their price target on Crocs from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, April 1st. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $140.00.

Crocs Stock Performance

Shares of NASDAQ CROX opened at $92.56 on Friday. The company has a quick ratio of 0.70, a current ratio of 1.18 and a debt-to-equity ratio of 0.74. The firm’s 50-day moving average price is $101.91 and its two-hundred day moving average price is $109.64. Crocs has a 52-week low of $86.11 and a 52-week high of $165.32. The stock has a market capitalization of $5.19 billion, a P/E ratio of 5.79, a P/E/G ratio of 1.80 and a beta of 1.62.

Crocs (NASDAQ:CROX) last announced its quarterly earnings results on Thursday, February 13th. The textile maker reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.25. Crocs had a return on equity of 46.27% and a net margin of 23.16%. As a group, sell-side analysts forecast that Crocs will post 13.2 earnings per share for the current year.

Insider Buying and Selling

In other Crocs news, EVP Shannon Sisler sold 4,659 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $109.75, for a total value of $511,325.25. Following the completion of the sale, the executive vice president now owns 29,299 shares in the company, valued at $3,215,565.25. This represents a 13.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Adam Michaels sold 15,000 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $106.69, for a total transaction of $1,600,350.00. Following the transaction, the executive vice president now owns 89,323 shares in the company, valued at approximately $9,529,870.87. This represents a 14.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.72% of the company’s stock.

Institutional Investors Weigh In On Crocs

Hedge funds and other institutional investors have recently made changes to their positions in the company. HighTower Advisors LLC increased its holdings in Crocs by 122.8% in the third quarter. HighTower Advisors LLC now owns 17,307 shares of the textile maker’s stock worth $2,507,000 after buying an additional 9,539 shares during the last quarter. Stifel Financial Corp increased its stake in shares of Crocs by 5.0% during the 3rd quarter. Stifel Financial Corp now owns 10,994 shares of the textile maker’s stock worth $1,592,000 after purchasing an additional 523 shares during the last quarter. M&T Bank Corp raised its holdings in shares of Crocs by 4.3% during the 3rd quarter. M&T Bank Corp now owns 5,601 shares of the textile maker’s stock valued at $811,000 after purchasing an additional 233 shares in the last quarter. TD Private Client Wealth LLC lifted its stake in shares of Crocs by 21.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,245 shares of the textile maker’s stock valued at $180,000 after purchasing an additional 216 shares during the last quarter. Finally, World Investment Advisors LLC bought a new stake in Crocs in the third quarter worth $211,000. 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.