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

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

Several other equities analysts have also recently issued reports on CROX. KeyCorp lowered their price objective on Crocs from $155.00 to $150.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. UBS Group reduced their price objective on Crocs from $146.00 to $122.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Raymond James cut shares of Crocs from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. Needham & Company LLC started coverage on shares of Crocs in a research note on Friday, November 22nd. They issued a “buy” rating and a $116.00 price target for the company. Finally, Loop Capital downgraded shares of Crocs from a “buy” rating to a “hold” rating and lowered their price objective for the company from $150.00 to $110.00 in a research report on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $148.80.

Crocs Stock Up 0.3 %

Shares of NASDAQ:CROX opened at $110.04 on Friday. The company has a current ratio of 1.43, a quick ratio of 0.90 and a debt-to-equity ratio of 0.82. The stock has a fifty day simple moving average of $107.34 and a two-hundred day simple moving average of $126.47. Crocs has a 12-month low of $94.50 and a 12-month high of $165.32. The stock 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 announced its quarterly earnings results on Tuesday, October 29th. The textile maker reported $3.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.10 by $0.50. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Crocs had a net margin of 20.50% and a return on equity of 49.70%. Crocs’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.25 EPS. On average, research analysts anticipate that Crocs will post 12.93 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CROX. Nordea Investment Management AB increased its holdings in shares of Crocs by 4.0% in the 4th quarter. Nordea Investment Management AB now owns 46,753 shares of the textile maker’s stock worth $5,156,000 after buying an additional 1,816 shares during the last quarter. Central Pacific Bank Trust Division lifted its stake in shares of Crocs by 32.6% in the 4th quarter. Central Pacific Bank Trust Division now owns 1,790 shares of the textile maker’s stock valued at $196,000 after purchasing an additional 440 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Crocs by 31.1% in the 3rd quarter. Franklin Resources Inc. now owns 46,600 shares of the textile maker’s stock worth $6,497,000 after purchasing an additional 11,056 shares during the period. Tidal Investments LLC increased its position in shares of Crocs by 64.5% during the 3rd quarter. Tidal Investments LLC now owns 21,674 shares of the textile maker’s stock valued at $3,139,000 after purchasing an additional 8,498 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Crocs during the 3rd quarter valued at $73,000. Hedge funds and other institutional investors own 93.44% of the company’s stock.

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.