Crocs (NASDAQ:CROX) Downgraded by StockNews.com to Hold

StockNews.com downgraded shares of Crocs (NASDAQ:CROX) from a buy rating to a hold rating in a research report sent to investors on Thursday morning.

A number of other equities analysts have also recently weighed in on the stock. Monness Crespi & Hardt reduced their price objective on shares of Crocs from $170.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. KeyCorp reduced their price objective on shares of Crocs from $150.00 to $120.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. Raymond James cut shares of Crocs from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. Barclays reduced their price objective on shares of Crocs from $125.00 to $122.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. Finally, Guggenheim reduced their price objective on shares of Crocs from $155.00 to $150.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Five research 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, the company has an average rating of “Moderate Buy” and an average target price of $143.53.

Crocs Stock Performance

CROX opened at $108.88 on Thursday. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.18 and a quick ratio of 0.70. The firm has a fifty day moving average price of $105.47 and a 200 day moving average price of $118.85. Crocs has a 1 year low of $88.25 and a 1 year high of $165.32. The stock has a market cap of $6.10 billion, a P/E ratio of 6.81, a P/E/G ratio of 1.77 and a beta of 1.93.

Crocs (NASDAQ:CROX) last posted its earnings results on Thursday, February 13th. The textile maker reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.25. Crocs had a net margin of 23.16% and a return on equity of 46.27%. Equities research analysts anticipate that Crocs will post 13.2 earnings per share for the current year.

Insider Activity at Crocs

In related news, EVP Adam Michaels sold 15,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $106.69, for a total value of $1,600,350.00. Following the completion of the sale, the executive vice president now owns 89,323 shares of the company’s stock, valued at approximately $9,529,870.87. This represents a 14.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 2.72% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Crocs

A number of hedge funds have recently modified their holdings of CROX. Creative Planning grew its holdings in shares of Crocs by 7.6% in the third quarter. Creative Planning now owns 5,388 shares of the textile maker’s stock valued at $780,000 after purchasing an additional 382 shares during the period. Blue Trust Inc. boosted its stake in Crocs by 63.4% during the third quarter. Blue Trust Inc. now owns 1,636 shares of the textile maker’s stock worth $239,000 after buying an additional 635 shares during the period. Private Advisor Group LLC boosted its stake in Crocs by 23.2% during the third quarter. Private Advisor Group LLC now owns 19,044 shares of the textile maker’s stock worth $2,758,000 after buying an additional 3,584 shares during the period. International Assets Investment Management LLC purchased a new position in Crocs during the third quarter worth about $2,076,000. Finally, Riverwater Partners LLC boosted its stake in Crocs by 86.3% during the third quarter. Riverwater Partners LLC now owns 19,797 shares of the textile maker’s stock worth $2,787,000 after buying an additional 9,168 shares during the period. Hedge funds and other institutional investors own 93.44% of the company’s stock.

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.