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

Crocs (NASDAQ:CROX) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Monday.

CROX has been the topic of several other reports. Piper Sandler reissued an “overweight” rating and set a $170.00 price target on shares of Crocs in a research note on Friday, August 23rd. Bank of America lifted their price target on shares of Crocs from $160.00 to $187.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. Raymond James downgraded shares of Crocs from a “strong-buy” rating to an “outperform” rating and set a $164.00 price target on the stock. in a research note on Friday, August 2nd. Wedbush reissued an “outperform” rating and set a $170.00 price target on shares of Crocs in a research note on Monday, July 29th. Finally, Barclays decreased their price target on shares of Crocs from $169.00 to $164.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $160.82.

Crocs Price Performance

Shares of CROX stock traded down $5.39 during trading hours on Monday, reaching $136.54. The stock had a trading volume of 931,481 shares, compared to its average volume of 1,297,288. The stock’s fifty day simple moving average is $136.56 and its 200 day simple moving average is $138.95. The company has a current ratio of 1.50, a quick ratio of 0.95 and a debt-to-equity ratio of 0.93. Crocs has a 12 month low of $74.00 and a 12 month high of $165.32. The firm has a market capitalization of $8.29 billion, a PE ratio of 10.57, a PEG ratio of 1.44 and a beta of 1.99.

Crocs (NASDAQ:CROX) last announced its earnings results on Thursday, August 1st. The textile maker reported $4.01 earnings per share for the quarter, beating analysts’ consensus estimates of $3.59 by $0.42. The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.10 billion. Crocs had a net margin of 20.02% and a return on equity of 53.20%. Crocs’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period last year, the firm posted $3.59 earnings per share. On average, equities research analysts predict that Crocs will post 12.85 EPS for the current year.

Insider Activity at Crocs

In related news, Director John B. Replogle purchased 1,996 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were acquired at an average price of $123.96 per share, for a total transaction of $247,424.16. Following the completion of the acquisition, the director now directly owns 7,064 shares in the company, valued at approximately $875,653.44. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Crocs news, Director John B. Replogle bought 1,996 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were purchased at an average price of $123.96 per share, for a total transaction of $247,424.16. Following the acquisition, the director now owns 7,064 shares in the company, valued at approximately $875,653.44. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Douglas J. Treff sold 10,594 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $132.38, for a total transaction of $1,402,433.72. Following the sale, the director now owns 81,254 shares in the company, valued at approximately $10,756,404.52. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.72% of the stock is currently owned by company insiders.

Institutional Trading of Crocs

A number of hedge funds have recently modified their holdings of the business. Coatue Management LLC raised its position in shares of Crocs by 836.7% in the 4th quarter. Coatue Management LLC now owns 1,029,765 shares of the textile maker’s stock worth $96,190,000 after purchasing an additional 919,835 shares during the last quarter. Patient Capital Management LLC purchased a new position in shares of Crocs in the 4th quarter worth about $39,420,000. Goldman Sachs Group Inc. raised its position in shares of Crocs by 46.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 770,281 shares of the textile maker’s stock worth $71,952,000 after purchasing an additional 245,240 shares during the last quarter. National Bank of Canada FI raised its position in shares of Crocs by 8,437.1% in 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 during the last quarter. Finally, Rheos Capital Works Inc. purchased a new position in shares of Crocs in the 1st quarter worth about $22,720,000. 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.