KeyCorp Has Lowered Expectations for Crocs (NASDAQ:CROX) Stock Price

Crocs (NASDAQ:CROX) had its target price reduced by KeyCorp from $155.00 to $150.00 in a research report report published on Wednesday morning, Benzinga reports. KeyCorp currently has an overweight rating on the textile maker’s stock.

A number of other research firms also recently weighed in on CROX. Williams Trading raised shares of Crocs from a “hold” rating to a “buy” rating and increased their target price for the company from $135.00 to $163.00 in a research report on Thursday, August 22nd. StockNews.com raised Crocs from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Piper Sandler reaffirmed an “overweight” rating and set a $170.00 price target on shares of Crocs in a research report on Friday, August 23rd. UBS Group decreased their price objective on Crocs from $146.00 to $122.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, Robert W. Baird dropped their price objective on shares of Crocs from $190.00 to $180.00 and set an “outperform” rating on the stock in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Crocs presently has an average rating of “Moderate Buy” and an average target price of $154.00.

Crocs Stock Performance

Shares of CROX opened at $106.21 on Wednesday. The stock has a 50 day moving average of $135.60 and a 200 day moving average of $138.11. The company has a market capitalization of $6.19 billion, a price-to-earnings ratio of 7.70, a PEG ratio of 1.10 and a beta of 2.01. Crocs has a 12 month low of $74.00 and a 12 month high of $165.32. The company has a current ratio of 1.43, a quick ratio of 0.95 and a debt-to-equity ratio of 0.82.

Crocs (NASDAQ:CROX) last announced its earnings results on Tuesday, October 29th. The textile maker reported $3.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.10 by $0.50. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. Crocs had a return on equity of 49.70% and a net margin of 20.50%. The business’s revenue was up 1.6% compared to the same quarter last year. During the same period last year, the firm posted $3.25 EPS. As a group, sell-side analysts forecast that Crocs will post 12.94 earnings per share for the current year.

Insider Buying and Selling

In other Crocs news, Director John B. Replogle purchased 2,240 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was purchased at an average price of $112.60 per share, for a total transaction of $252,224.00. Following the transaction, the director now owns 9,304 shares in the company, valued at $1,047,630.40. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Crocs news, Director Douglas J. Treff sold 10,594 shares of Crocs 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 completion of 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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. The trade was 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 Investors Weigh In On Crocs

A number of hedge funds have recently made changes to their positions in CROX. GHP Investment Advisors Inc. increased its stake in shares of Crocs by 375.0% in the second quarter. GHP Investment Advisors Inc. now owns 228 shares of the textile maker’s stock worth $33,000 after buying an additional 180 shares during the period. Financial Management Professionals Inc. increased its position in shares of Crocs by 11,200.0% in the third quarter. Financial Management Professionals Inc. now owns 226 shares of the textile maker’s stock valued at $33,000 after acquiring an additional 224 shares during the period. UMB Bank n.a. raised its stake in shares of Crocs by 64.9% during the third quarter. UMB Bank n.a. now owns 305 shares of the textile maker’s stock valued at $44,000 after acquiring an additional 120 shares during the last quarter. V Square Quantitative Management LLC boosted its holdings in shares of Crocs by 83.0% during the third quarter. V Square Quantitative Management LLC now owns 313 shares of the textile maker’s stock worth $45,000 after purchasing an additional 142 shares during the period. Finally, Blue Trust Inc. grew its stake in shares of Crocs by 19.3% in the second quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker’s stock worth $144,000 after purchasing an additional 162 shares during the last quarter. 93.44% of the stock is currently owned by 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.