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

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

CROX has been the topic of a number of other reports. Needham & Company LLC began coverage on shares of Crocs in a report on Friday, November 22nd. They issued a “buy” rating and a $116.00 price target on the stock. KeyCorp lowered their target price 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. Loop Capital lowered shares of Crocs from a “buy” rating to a “hold” rating and reduced their price target for the company from $150.00 to $110.00 in a research report on Thursday, November 7th. Barclays lowered their price objective on Crocs from $164.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 29th. Finally, Guggenheim restated a “buy” rating and set a $155.00 target price on shares of Crocs in a research report on Friday, December 6th. Five equities research 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.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $148.80.

Crocs Price Performance

CROX opened at $110.04 on Friday. The firm has a 50-day moving average price of $107.34 and a 200-day moving average price of $126.47. Crocs has a twelve month low of $94.50 and a twelve month high of $165.32. The company has a quick ratio of 0.90, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $6.41 billion, a price-to-earnings ratio of 7.98, a PEG ratio of 1.14 and a beta of 1.95.

Crocs (NASDAQ:CROX) last issued its earnings results on Tuesday, October 29th. The textile maker reported $3.60 earnings per share (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 for the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the previous year, the firm posted $3.25 EPS. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. Equities analysts expect that Crocs will post 12.93 EPS for the current year.

Insiders Place Their Bets

In other Crocs news, Director John B. Replogle purchased 2,240 shares of the stock in a transaction on Wednesday, October 30th. The stock was acquired at an average price of $112.60 per share, with a total value of $252,224.00. Following the transaction, the director now directly owns 9,304 shares of the company’s stock, valued at approximately $1,047,630.40. This trade represents a 31.71 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Susan L. Healy acquired 1,000 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was acquired at an average price of $99.70 per share, for a total transaction of $99,700.00. Following the completion of the transaction, the chief financial officer now owns 22,652 shares in the company, valued at approximately $2,258,404.40. The trade was a 4.62 % increase in their position. The disclosure for this purchase can be found here. Insiders own 2.72% of the company’s stock.

Institutional Investors Weigh In On Crocs

Several institutional investors and hedge funds have recently modified their holdings of CROX. Crossmark Global Holdings Inc. lifted its holdings in Crocs by 55.8% in the third quarter. Crossmark Global Holdings Inc. now owns 40,192 shares of the textile maker’s stock worth $5,820,000 after buying an additional 14,387 shares during the period. Meeder Asset Management Inc. lifted its stake in shares of Crocs by 585.5% in the 3rd quarter. Meeder Asset Management Inc. now owns 24,349 shares of the textile maker’s stock valued at $3,526,000 after purchasing an additional 20,797 shares during the period. Catalyst Capital Advisors LLC boosted its position in shares of Crocs by 2,775.6% during the third quarter. Catalyst Capital Advisors LLC now owns 7,908 shares of the textile maker’s stock valued at $1,145,000 after purchasing an additional 7,633 shares in the last quarter. Aigen Investment Management LP purchased a new stake in Crocs in the third quarter worth $2,024,000. Finally, International Assets Investment Management LLC purchased a new position in Crocs during the third quarter valued at $2,076,000. 93.44% of the stock is owned by hedge funds and other institutional investors.

Crocs Company Profile

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.