Raymond James Downgrades Crocs (NASDAQ:CROX) to Market Perform

Crocs (NASDAQ:CROX) was downgraded by Raymond James from an “outperform” rating to a “market perform” rating in a research report issued on Wednesday, MarketBeat reports.

A number of other equities research analysts have also recently issued reports on CROX. Barclays decreased their price target on shares of Crocs from $164.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday. Guggenheim initiated coverage on shares of Crocs in a research report on Wednesday, October 9th. They set a “buy” rating and a $182.00 price objective for the company. Wedbush reaffirmed an “outperform” rating and set a $170.00 price objective on shares of Crocs in a research report on Monday, July 29th. Williams Trading raised shares of Crocs from a “hold” rating to a “buy” rating and upped their price objective for the company from $135.00 to $163.00 in a research report on Thursday, August 22nd. Finally, StockNews.com raised shares of Crocs from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $154.00.

Crocs Stock Down 1.1 %

CROX stock opened at $107.82 on Wednesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.50 and a quick ratio of 0.95. Crocs has a 52-week low of $74.00 and a 52-week high of $165.32. The company has a 50-day moving average of $137.05 and a two-hundred day moving average of $138.45. The stock has a market capitalization of $6.40 billion, a price-to-earnings ratio of 8.11, a price-to-earnings-growth ratio of 1.35 and a beta of 1.99.

Crocs (NASDAQ:CROX) last released its quarterly earnings results on Tuesday, October 29th. The textile maker reported $3.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.13 by $0.47. Crocs had a net margin of 20.02% and a return on equity of 53.20%. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the prior year, the company earned $3.25 earnings per share. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Crocs will post 12.88 EPS for the current year.

Insider Buying and Selling

In other news, Director John B. Replogle acquired 2,240 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were purchased 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 owns 9,304 shares of the company’s stock, valued at $1,047,630.40. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director John B. Replogle acquired 2,240 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were purchased 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 owns 9,304 shares of the company’s stock, valued at $1,047,630.40. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Douglas J. Treff sold 10,594 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $132.38, for a total transaction of $1,402,433.72. Following the sale, the director now directly owns 81,254 shares in the company, valued at $10,756,404.52. This represents a 0.00 % 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 Trading of Crocs

Several hedge funds have recently modified their holdings of the stock. Davis Investment Partners LLC grew its stake in shares of Crocs by 0.8% during the third quarter. Davis Investment Partners LLC now owns 9,673 shares of the textile maker’s stock valued at $1,362,000 after purchasing an additional 77 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Crocs by 8.9% during the second quarter. Nisa Investment Advisors LLC now owns 1,041 shares of the textile maker’s stock valued at $152,000 after purchasing an additional 85 shares during the last quarter. Central Pacific Bank Trust Division grew its stake in shares of Crocs by 8.0% during the third quarter. Central Pacific Bank Trust Division now owns 1,350 shares of the textile maker’s stock valued at $195,000 after purchasing an additional 100 shares during the last quarter. 180 Wealth Advisors LLC grew its stake in shares of Crocs by 1.6% during the second quarter. 180 Wealth Advisors LLC now owns 7,248 shares of the textile maker’s stock valued at $1,036,000 after purchasing an additional 111 shares during the last quarter. Finally, Clear Harbor Asset Management LLC grew its stake in shares of Crocs by 4.0% during the third quarter. Clear Harbor Asset Management LLC now owns 3,014 shares of the textile maker’s stock valued at $436,000 after purchasing an additional 115 shares during the last quarter. 93.44% of the stock is owned by 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.