Crocs (NASDAQ:CROX) Hits New 12-Month Low – Here’s What Happened

Shares of Crocs, Inc. (NASDAQ:CROX) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $88.25 and last traded at $88.83, with a volume of 3019083 shares traded. The stock had previously closed at $88.95.

Analysts Set New Price Targets

Several equities research analysts recently commented on CROX shares. KeyCorp cut their price objective on shares of Crocs from $150.00 to $120.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. Monness Crespi & Hardt cut their price target on Crocs from $170.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. 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, October 30th. Barclays cut their target price on Crocs from $164.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. Finally, Loop Capital cut shares of Crocs from a “buy” rating to a “hold” rating and decreased their price target for the stock from $150.00 to $110.00 in a research note on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $144.47.

Crocs Price Performance

The company’s 50-day simple moving average is $105.75 and its 200-day simple moving average is $119.68. The stock has a market capitalization of $5.18 billion, a P/E ratio of 6.44, a price-to-earnings-growth ratio of 1.67 and a beta of 1.93. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.90.

Institutional Investors Weigh In On Crocs

Several hedge funds have recently bought and sold shares of the company. Financial Management Professionals Inc. increased its position in Crocs by 11,200.0% during the third quarter. Financial Management Professionals Inc. now owns 226 shares of the textile maker’s stock worth $33,000 after buying an additional 224 shares during the last quarter. V Square Quantitative Management LLC boosted its stake in shares of Crocs by 83.0% during the 3rd quarter. V Square Quantitative Management LLC now owns 313 shares of the textile maker’s stock worth $45,000 after acquiring an additional 142 shares during the period. Avior Wealth Management LLC increased its holdings in shares of Crocs by 109.5% during the 3rd quarter. Avior Wealth Management LLC now owns 398 shares of the textile maker’s stock worth $58,000 after acquiring an additional 208 shares during the last quarter. UMB Bank n.a. raised its stake in Crocs by 46.6% in the 4th quarter. UMB Bank n.a. now owns 447 shares of the textile maker’s stock valued at $49,000 after acquiring an additional 142 shares during the period. Finally, Allianz SE acquired a new stake in Crocs during the 4th quarter valued at $53,000. 93.44% of the stock is currently owned by institutional investors and hedge funds.

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.