Crocs (NASDAQ:CROX) Rating Lowered to “Market Perform” at Raymond James

Raymond James downgraded shares of Crocs (NASDAQ:CROX) from an outperform rating to a market perform rating in a report published on Wednesday morning, Marketbeat reports.

A number of other equities research analysts have also weighed in on the stock. Williams Trading upgraded shares of Crocs from a “hold” rating to a “buy” rating and boosted their target price for the company from $135.00 to $163.00 in a research note on Thursday, August 22nd. Wedbush reissued an “outperform” rating and issued a $170.00 target price on shares of Crocs in a report on Monday, July 29th. Guggenheim started coverage on Crocs in a research report on Wednesday, October 9th. They issued a “buy” rating and a $182.00 target price on the stock. Barclays reduced their price target on shares of Crocs from $164.00 to $125.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, Piper Sandler reiterated an “overweight” rating and issued a $170.00 price objective on shares of Crocs in a research note on Friday, August 23rd. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Crocs currently has a consensus rating of “Moderate Buy” and an average target price of $154.00.

Crocs Trading Down 2.3 %

Crocs stock opened at $109.00 on Wednesday. Crocs has a one year low of $74.00 and a one year high of $165.32. The business’s fifty day moving average is $137.05 and its 200 day moving average is $138.45. The stock has a market capitalization of $6.47 billion, a PE ratio of 8.20, a price-to-earnings-growth ratio of 1.35 and a beta of 1.99. 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 (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, 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 firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter last year, the firm posted $3.25 EPS. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. On average, sell-side analysts predict that Crocs will post 12.88 EPS for the current year.

Insider Activity at Crocs

In other Crocs news, Director Douglas J. Treff sold 10,594 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $132.38, for a total value of $1,402,433.72. Following the completion of the sale, the director now owns 81,254 shares in the company, valued at approximately $10,756,404.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Crocs news, Director John B. Replogle purchased 2,240 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were bought at an average cost of $112.60 per share, with a total value of $252,224.00. Following the acquisition, the director now owns 9,304 shares in the company, valued at approximately $1,047,630.40. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Douglas J. Treff sold 10,594 shares of the stock in a transaction that occurred on 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 directly owns 81,254 shares of the company’s stock, valued at approximately $10,756,404.52. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.72% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Crocs

A number of hedge funds and other institutional investors have recently modified their holdings of CROX. GHP Investment Advisors Inc. lifted its stake in Crocs by 375.0% in the 2nd quarter. GHP Investment Advisors Inc. now owns 228 shares of the textile maker’s stock worth $33,000 after purchasing an additional 180 shares in the last quarter. Financial Management Professionals Inc. increased its holdings 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 worth $33,000 after purchasing an additional 224 shares during the last quarter. UMB Bank n.a. lifted its position in shares of Crocs by 64.9% in the third quarter. UMB Bank n.a. now owns 305 shares of the textile maker’s stock worth $44,000 after buying an additional 120 shares in the last quarter. V Square Quantitative Management LLC boosted its stake in Crocs by 83.0% during the third quarter. V Square Quantitative Management LLC now owns 313 shares of the textile maker’s stock valued at $45,000 after buying an additional 142 shares during the last quarter. Finally, Blue Trust Inc. grew its holdings in Crocs by 19.3% during the 2nd quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker’s stock valued at $144,000 after buying an additional 162 shares in the last quarter. Institutional investors own 93.44% of the company’s stock.

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.