KeyCorp Lowers Crocs (NASDAQ:CROX) Price Target to $120.00

Crocs (NASDAQ:CROX) had its price target dropped by investment analysts at KeyCorp from $150.00 to $120.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the textile maker’s stock. KeyCorp’s price target points to a potential upside of 19.19% from the company’s previous close.

Several other brokerages have also weighed in on CROX. Guggenheim reaffirmed a “buy” rating and issued a $155.00 target price on shares of Crocs in a research report on Friday, December 6th. Barclays reduced their target price on Crocs from $164.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. Monness Crespi & Hardt reduced their target price on Crocs from $170.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Robert W. Baird reduced their price objective on Crocs from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Finally, Raymond James downgraded Crocs from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and twelve have given 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 $146.80.

Crocs Stock Down 1.9 %

Shares of NASDAQ:CROX opened at $100.68 on Thursday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.90 and a current ratio of 1.43. Crocs has a 1 year low of $94.50 and a 1 year high of $165.32. The stock has a market capitalization of $5.87 billion, a P/E ratio of 7.34, a PEG ratio of 1.80 and a beta of 1.95. The stock has a 50-day simple moving average of $107.46 and a 200-day simple moving average of $123.54.

Crocs (NASDAQ:CROX) last released its quarterly earnings results on Tuesday, October 29th. The textile maker reported $3.60 earnings per share for the quarter, topping analysts’ consensus estimates of $3.10 by $0.50. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Crocs had a return on equity of 49.70% and a net margin of 20.50%. Crocs’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.25 EPS. Equities analysts forecast that Crocs will post 12.93 earnings per share for the current year.

Insider Activity

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

Hedge Funds Weigh In On Crocs

A number of hedge funds and other institutional investors have recently modified their holdings of the business. AE Wealth Management LLC increased its holdings in shares of Crocs by 49.3% in the second quarter. AE Wealth Management LLC now owns 3,574 shares of the textile maker’s stock worth $522,000 after purchasing an additional 1,180 shares during the period. Sei Investments Co. increased its holdings in shares of Crocs by 21.0% in the second quarter. Sei Investments Co. now owns 22,034 shares of the textile maker’s stock worth $3,216,000 after purchasing an additional 3,819 shares during the period. Marshall Wace LLP bought a new position in shares of Crocs in the second quarter worth $19,598,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Crocs in the second quarter worth $230,000. Finally, Caxton Associates LP bought a new position in shares of Crocs in the second quarter worth $1,293,000. Hedge funds and other 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.