Crocs (NASDAQ:CROX) Shares Gap Down on Analyst Downgrade

Crocs, Inc. (NASDAQ:CROX)’s share price gapped down before the market opened on Tuesday after StockNews.com downgraded the stock from a buy rating to a hold rating. The stock had previously closed at $138.05, but opened at $113.75. Crocs shares last traded at $114.51, with a volume of 1,948,475 shares trading hands.

Other equities research analysts also recently issued reports about the company. Monness Crespi & Hardt decreased their price objective on Crocs from $170.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday. Robert W. Baird decreased their price target on Crocs from $190.00 to $180.00 and set an “outperform” rating on the stock in a report on Wednesday. Wedbush reaffirmed an “outperform” rating and set a $170.00 price objective on shares of Crocs in a research note on Monday, July 29th. Piper Sandler reissued an “overweight” rating and issued a $170.00 target price on shares of Crocs in a research note on Friday, August 23rd. Finally, UBS Group dropped their price target on shares of Crocs from $146.00 to $122.00 and set a “neutral” rating for the company in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $154.00.

Insiders Place Their Bets

In other 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 transaction of $1,402,433.72. Following the transaction, the director now owns 81,254 shares of the company’s stock, valued at approximately $10,756,404.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Crocs news, Director John B. Replogle acquired 2,240 shares of the business’s 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 completion of the acquisition, the director now directly owns 9,304 shares in the company, valued at $1,047,630.40. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Douglas J. Treff sold 10,594 shares of the company’s 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 sale, the director now owns 81,254 shares of the company’s stock, valued at approximately $10,756,404.52. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.72% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. State of Michigan Retirement System boosted its position in Crocs by 2.1% during the first quarter. State of Michigan Retirement System now owns 14,838 shares of the textile maker’s stock valued at $2,134,000 after purchasing an additional 300 shares in the last quarter. State of Alaska Department of Revenue lifted its position in shares of Crocs by 39.1% during the first quarter. State of Alaska Department of Revenue now owns 9,103 shares of the textile maker’s stock valued at $1,308,000 after buying an additional 2,558 shares during the last quarter. Private Advisor Group LLC lifted its position in shares of Crocs by 10.0% during the first quarter. Private Advisor Group LLC now owns 18,918 shares of the textile maker’s stock valued at $2,720,000 after buying an additional 1,717 shares during the last quarter. Flynn Zito Capital Management LLC bought a new stake in shares of Crocs in the 1st quarter valued at about $249,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Crocs in the 1st quarter worth approximately $3,859,000. 93.44% of the stock is currently owned by hedge funds and other institutional investors.

Crocs Stock Performance

The firm’s 50 day moving average is $137.05 and its 200 day moving average is $138.45. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.95 and a current ratio of 1.50. The stock has a market cap of $6.47 billion, a P/E ratio of 8.20, a price-to-earnings-growth ratio of 1.35 and a beta of 1.99.

Crocs (NASDAQ:CROX) last issued its quarterly earnings data on Tuesday, October 29th. The textile maker reported $3.60 EPS for the quarter, beating the consensus estimate of $3.13 by $0.47. 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 53.20% and a net margin of 20.02%. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.25 EPS. Analysts anticipate that Crocs, Inc. will post 12.88 EPS for the current year.

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.