Crocs (CROX) Shares Gap Down to $27.30

Crocs, Inc. (NASDAQ:CROX)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $28.14, but opened at $27.30. Crocs shares last traded at $26.31, with a volume of 4602802 shares trading hands.

A number of brokerages recently weighed in on CROX. Zacks Investment Research downgraded Crocs from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 10th. TheStreet raised Crocs from a “c+” rating to a “b” rating in a research report on Thursday, August 9th. BidaskClub raised Crocs from a “hold” rating to a “buy” rating in a research report on Saturday, September 15th. Piper Jaffray Companies set a $23.00 price objective on Crocs and gave the company a “buy” rating in a research report on Monday, October 22nd. Finally, Pivotal Research set a $25.00 price target on Crocs and gave the stock a “buy” rating in a report on Tuesday, November 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. Crocs has an average rating of “Buy” and an average price target of $19.43.

The company has a market cap of $1.82 billion, a P/E ratio of -1,298.00, a price-to-earnings-growth ratio of 5.25 and a beta of 0.64.

Crocs (NASDAQ:CROX) last issued its quarterly earnings results on Thursday, November 8th. The textile maker reported $0.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.09. Crocs had a return on equity of 17.27% and a net margin of 3.08%. The company had revenue of $261.10 million for the quarter, compared to the consensus estimate of $246.47 million. During the same quarter in the prior year, the business earned ($0.03) EPS. Crocs’s revenue was up 7.3% on a year-over-year basis. Sell-side analysts expect that Crocs, Inc. will post -0.02 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the business. NumerixS Investment Technologies Inc purchased a new stake in Crocs during the 2nd quarter worth about $137,000. Harvest Fund Management Co. Ltd purchased a new stake in Crocs during the 3rd quarter worth about $171,000. Pacer Advisors Inc. increased its holdings in Crocs by 133.5% during the 3rd quarter. Pacer Advisors Inc. now owns 9,556 shares of the textile maker’s stock worth $203,000 after purchasing an additional 5,463 shares during the period. Aperio Group LLC purchased a new position in shares of Crocs in the 2nd quarter valued at about $179,000. Finally, Verition Fund Management LLC purchased a new position in shares of Crocs in the 3rd quarter valued at about $229,000.

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Crocs Company Profile (NASDAQ:CROX)

Crocs, Inc, together with its subsidiaries, designs, develops, manufactures, markets, and distributes casual lifestyle footwear and accessories for men, women, and children worldwide. It offers various footwear products, including clogs, sandals, flips and slides, shoes, and boots under the Crocs brand name.

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