Crocs (NASDAQ:CROX) Downgraded to Hold Rating by Loop Capital

Loop Capital cut shares of Crocs (NASDAQ:CROX) from a buy rating to a hold rating in a research report report published on Thursday, MarketBeat Ratings reports. The brokerage currently has $110.00 price objective on the textile maker’s stock, down from their prior price objective of $150.00.

CROX has been the subject of several other research reports. UBS Group reduced their price target on shares of Crocs from $146.00 to $122.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. Barclays reduced their target price on shares of Crocs from $164.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Raymond James downgraded shares of Crocs from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. Williams Trading upgraded shares of Crocs from a “hold” rating to a “buy” rating and lifted their price objective for the company from $135.00 to $163.00 in a research note on Thursday, August 22nd. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $170.00 price target on shares of Crocs in a report on Friday, August 23rd. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Crocs currently has an average rating of “Moderate Buy” and an average target price of $151.14.

Crocs Stock Down 0.8 %

CROX stock traded down $0.82 during mid-day trading on Thursday, hitting $101.04. 1,356,349 shares of the company were exchanged, compared to its average volume of 1,341,750. The firm’s 50 day simple moving average is $132.49 and its 200 day simple moving average is $137.66. 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 $77.16 and a 1-year high of $165.32. The firm has a market cap of $5.89 billion, a P/E ratio of 7.39, a P/E/G ratio of 1.07 and a beta of 2.01.

Crocs (NASDAQ:CROX) last released its quarterly earnings data on Tuesday, October 29th. The textile maker reported $3.60 EPS for the quarter, beating the consensus estimate of $3.10 by $0.50. Crocs had a net margin of 20.50% and a return on equity of 49.70%. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the previous year, the company earned $3.25 earnings per share. The company’s quarterly revenue was up 1.6% on a year-over-year basis. On average, sell-side analysts predict that Crocs will post 12.93 EPS for the current fiscal year.

Insider Activity at Crocs

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 shares were acquired at an average price of $112.60 per share, for a total transaction of $252,224.00. Following the purchase, the director now directly owns 9,304 shares of the company’s stock, valued at $1,047,630.40. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.72% of the stock is owned by insiders.

Institutional Investors Weigh In On Crocs

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Crocs by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 5,572,643 shares of the textile maker’s stock valued at $801,346,000 after purchasing an additional 76,460 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of Crocs by 15.1% during the second quarter. Pacer Advisors Inc. now owns 1,091,097 shares of the textile maker’s stock valued at $159,235,000 after acquiring an additional 142,944 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in Crocs by 1.3% in the 2nd quarter. Thrivent Financial for Lutherans now owns 901,973 shares of the textile maker’s stock worth $131,634,000 after purchasing an additional 11,986 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Crocs by 12.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 790,225 shares of the textile maker’s stock worth $115,322,000 after purchasing an additional 89,610 shares during the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. increased its stake in Crocs by 6.7% during the 2nd quarter. Van Lanschot Kempen Investment Management N.V. now owns 521,726 shares of the textile maker’s stock valued at $76,141,000 after purchasing an additional 32,984 shares in the last quarter. 93.44% of the stock is 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.