Crocs (NASDAQ:CROX) Shares Gap Down to $148.25

Crocs, Inc. (NASDAQ:CROX)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $148.25, but opened at $144.89. Crocs shares last traded at $145.36, with a volume of 102,558 shares changing hands.

Analyst Ratings Changes

Several research analysts have commented on CROX shares. Stifel Nicolaus raised their price objective on Crocs from $140.00 to $158.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. UBS Group raised their price objective on Crocs from $124.00 to $148.00 and gave the company a “neutral” rating in a research report on Wednesday, May 8th. Wedbush raised their price objective on Crocs from $156.00 to $170.00 and gave the company an “outperform” rating in a research report on Monday, May 13th. Williams Trading reaffirmed a “hold” rating and set a $125.00 target price (down from $135.00) on shares of Crocs in a research report on Tuesday, April 16th. Finally, Monness Crespi & Hardt lifted their target price on Crocs from $140.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $154.83.

Crocs Stock Performance

The company has a quick ratio of 1.14, a current ratio of 1.76 and a debt-to-equity ratio of 1.08. The stock has a 50 day simple moving average of $144.04 and a 200 day simple moving average of $124.94. The company has a market capitalization of $8.86 billion, a price-to-earnings ratio of 11.30, a P/E/G ratio of 1.65 and a beta of 1.97.

Crocs (NASDAQ:CROX) last issued its earnings results on Tuesday, May 7th. The textile maker reported $3.02 EPS for the quarter, beating analysts’ consensus estimates of $2.25 by $0.77. Crocs had a return on equity of 56.33% and a net margin of 19.80%. The company had revenue of $938.60 million during the quarter, compared to the consensus estimate of $884.29 million. During the same period in the previous year, the firm posted $2.61 earnings per share. Crocs’s quarterly revenue was up 6.2% compared to the same quarter last year. As a group, analysts anticipate that Crocs, Inc. will post 12.66 earnings per share for the current fiscal year.

Insider Transactions at Crocs

In other news, CEO Andrew Rees sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $160.15, for a total transaction of $1,601,500.00. Following the completion of the transaction, the chief executive officer now directly owns 79,748 shares in the company, valued at $12,771,642.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Anne Mehlman sold 7,150 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $159.01, for a total transaction of $1,136,921.50. Following the sale, the executive vice president now owns 143,075 shares of the company’s stock, valued at $22,750,355.75. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Andrew Rees sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $160.15, for a total value of $1,601,500.00. Following the sale, the chief executive officer now directly owns 79,748 shares in the company, valued at approximately $12,771,642.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,178 shares of company stock worth $4,597,445. Company 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. V Square Quantitative Management LLC purchased a new stake in shares of Crocs in the first quarter valued at $25,000. Rise Advisors LLC purchased a new stake in Crocs in the 1st quarter worth about $25,000. Byrne Asset Management LLC boosted its position in Crocs by 60.0% during the 4th quarter. Byrne Asset Management LLC now owns 320 shares of the textile maker’s stock worth $30,000 after acquiring an additional 120 shares during the period. Blue Trust Inc. grew its stake in Crocs by 185.0% during the 4th quarter. Blue Trust Inc. now owns 342 shares of the textile maker’s stock valued at $32,000 after acquiring an additional 222 shares in the last quarter. Finally, Quest Partners LLC acquired a new position in shares of Crocs in the 4th quarter valued at about $53,000. 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.