Crocs (NASDAQ:CROX) Shares Gap Down After 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.

A number of other brokerages have also issued reports on CROX. Williams Trading upgraded Crocs from a “hold” rating to a “buy” rating and raised their target price for the stock from $135.00 to $163.00 in a research note on Thursday, August 22nd. Wedbush restated an “outperform” rating and issued a $170.00 price objective on shares of Crocs in a research note on Monday, July 29th. Monness Crespi & Hardt cut their price target on shares of Crocs from $170.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday. Barclays decreased their price objective on shares of Crocs from $164.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, KeyCorp cut their price objective on shares of Crocs from $155.00 to $150.00 and set an “overweight” rating on the stock in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $154.00.

Insider Activity at Crocs

In other Crocs news, Director John B. Replogle purchased 1,996 shares of the stock in a transaction on Friday, August 2nd. The shares were bought at an average price of $123.96 per share, for a total transaction of $247,424.16. Following the completion of the transaction, the director now owns 7,064 shares of the company’s stock, valued at $875,653.44. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, Director John B. Replogle purchased 2,240 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was bought at an average price of $112.60 per share, with a total value of $252,224.00. Following the acquisition, the director now owns 9,304 shares in the company, valued at $1,047,630.40. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John B. Replogle acquired 1,996 shares of Crocs stock in a transaction on Friday, August 2nd. The shares were bought at an average price of $123.96 per share, with a total value of $247,424.16. Following the completion of the transaction, the director now directly owns 7,064 shares of the company’s stock, valued at $875,653.44. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 2.72% of the stock is owned by company insiders.

Institutional Trading of Crocs

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

Crocs Stock Down 2.3 %

The company has a current ratio of 1.50, a quick ratio of 0.95 and a debt-to-equity ratio of 0.93. The business has a fifty day simple moving average of $137.05 and a two-hundred day simple moving average of $138.45. The company has a market cap of $6.47 billion, a PE ratio of 8.20, a price-to-earnings-growth ratio of 1.35 and a beta of 1.99.

Crocs (NASDAQ:CROX) last posted its quarterly earnings results on Tuesday, October 29th. The textile maker reported $3.60 earnings per share for the quarter, topping the consensus estimate of $3.13 by $0.47. Crocs had a net margin of 20.02% and a return on equity of 53.20%. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period last year, the firm posted $3.25 earnings per share. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, equities research analysts predict that Crocs, Inc. will post 12.88 earnings per share 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.