Crocs (NASDAQ:CROX) Shares Down 2.6% – Here’s What Happened

Crocs, Inc. (NASDAQ:CROX)’s stock price was down 2.6% during trading on Wednesday . The company traded as low as $136.65 and last traded at $136.76. Approximately 372,044 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 1,278,432 shares. The stock had previously closed at $140.45.

Analysts Set New Price Targets

CROX has been the subject of a number of research analyst reports. Wedbush reaffirmed an “outperform” rating and set a $170.00 price objective on shares of Crocs in a report on Monday, July 29th. Barclays cut their price objective on Crocs from $169.00 to $164.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Piper Sandler reissued an “overweight” rating and set a $170.00 price objective on shares of Crocs in a report on Friday, August 23rd. KeyCorp upped their target price on Crocs from $149.00 to $155.00 and gave the stock an “overweight” rating in a research note on Thursday, September 26th. Finally, Williams Trading raised shares of Crocs from a “hold” rating to a “buy” rating and lifted their price target for the stock from $135.00 to $163.00 in a research note on Thursday, August 22nd. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $162.58.

Crocs Trading Up 2.4 %

The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.95 and a current ratio of 1.50. The stock has a market capitalization of $8.46 billion, a P/E ratio of 10.79, a price-to-earnings-growth ratio of 1.35 and a beta of 1.99. The stock has a 50-day moving average price of $138.11 and a two-hundred day moving average price of $138.70.

Crocs (NASDAQ:CROX) last issued its quarterly earnings data on Thursday, August 1st. The textile maker reported $4.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.59 by $0.42. Crocs had a net margin of 20.02% and a return on equity of 53.20%. The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the previous year, the firm earned $3.59 EPS. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. On average, research analysts forecast that Crocs, Inc. will post 12.88 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director John B. Replogle bought 1,996 shares of Crocs stock in a transaction on 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 of the company’s stock, valued at approximately $875,653.44. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Douglas J. Treff sold 10,594 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $10,756,404.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John B. Replogle acquired 1,996 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was acquired 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 of the company’s stock, valued at approximately $875,653.44. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 2.72% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its holdings in shares of Crocs by 63.4% during the third quarter. Blue Trust Inc. now owns 1,636 shares of the textile maker’s stock valued at $239,000 after acquiring an additional 635 shares in the last quarter. Kirr Marbach & Co. LLC IN increased its stake in Crocs by 1.9% during the 3rd quarter. Kirr Marbach & Co. LLC IN now owns 27,465 shares of the textile maker’s stock valued at $3,977,000 after purchasing an additional 525 shares in the last quarter. Stratos Wealth Advisors LLC purchased a new position in Crocs in the third quarter worth about $1,731,000. V Square Quantitative Management LLC lifted its stake in shares of Crocs by 83.0% in the third quarter. V Square Quantitative Management LLC now owns 313 shares of the textile maker’s stock worth $45,000 after buying an additional 142 shares in the last quarter. Finally, Walter Public Investments Inc. grew its holdings in shares of Crocs by 3.1% during the third quarter. Walter Public Investments Inc. now owns 56,404 shares of the textile maker’s stock valued at $8,168,000 after buying an additional 1,694 shares during the last quarter. 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.