Crocs (NASDAQ:CROX) Shares Gap Down – Should You Sell?

Shares of Crocs, Inc. (NASDAQ:CROX) gapped down prior to trading on Thursday . The stock had previously closed at $111.54, but opened at $98.05. Crocs shares last traded at $92.55, with a volume of 811,158 shares traded.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CROX. Bank of America raised their price target on Crocs from $144.00 to $153.00 and gave the company a “buy” rating in a research note on Friday, February 14th. StockNews.com downgraded shares of Crocs from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Robert W. Baird lowered their price target on shares of Crocs from $180.00 to $150.00 and set an “outperform” rating for the company in a research report on Monday, February 10th. Barclays cut their price objective on shares of Crocs from $125.00 to $122.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $129.00 price objective on shares of Crocs in a research note on Thursday, February 13th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $144.53.

Crocs Stock Performance

The firm has a market cap of $5.64 billion, a price-to-earnings ratio of 6.29, a P/E/G ratio of 1.80 and a beta of 1.62. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.18 and a quick ratio of 0.70. The firm has a fifty day simple moving average of $102.96 and a two-hundred day simple moving average of $112.16.

Crocs (NASDAQ:CROX) last released its earnings results on Thursday, February 13th. The textile maker reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.25. Crocs had a net margin of 23.16% and a return on equity of 46.27%. On average, analysts expect that Crocs, Inc. will post 13.2 EPS for the current year.

Insider Activity

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

Institutional Trading of Crocs

Several large investors have recently made changes to their positions in the business. UMB Bank n.a. lifted its position in Crocs by 46.6% during the fourth quarter. UMB Bank n.a. now owns 447 shares of the textile maker’s stock valued at $49,000 after purchasing an additional 142 shares during the period. Allianz SE purchased a new position in shares of Crocs during the 4th quarter valued at about $53,000. Ameriflex Group Inc. acquired a new position in shares of Crocs in the 4th quarter valued at about $54,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Crocs in the third quarter worth about $73,000. Finally, TD Waterhouse Canada Inc. grew its holdings in Crocs by 425.6% during the fourth quarter. TD Waterhouse Canada Inc. now owns 678 shares of the textile maker’s stock worth $74,000 after acquiring an additional 549 shares during the period. 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.