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

Crocs, Inc. (NASDAQ:CROX)’s stock price gapped down prior to trading 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 changing hands.

Other equities research analysts have also recently issued research reports about the company. Williams Trading upgraded Crocs from a “hold” rating to a “buy” rating and upped their price objective for the stock from $135.00 to $163.00 in a research note on Thursday, August 22nd. Robert W. Baird dropped their price target on shares of Crocs from $190.00 to $180.00 and set an “outperform” rating on the stock in a research report on Wednesday. Loop Capital decreased 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 Wednesday. Guggenheim dropped their target price on shares of Crocs from $182.00 to $155.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, KeyCorp reduced their price target on Crocs from $155.00 to $150.00 and set an “overweight” rating for the company in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Crocs currently has a consensus rating of “Moderate Buy” and a consensus target price of $154.00.

Insider Transactions at Crocs

In other news, Director John B. Replogle purchased 2,240 shares of Crocs stock in a transaction that occurred on Wednesday, October 30th. The stock was acquired at an average cost of $112.60 per share, for a total transaction of $252,224.00. Following the purchase, the director now directly owns 9,304 shares of the company’s stock, valued at $1,047,630.40. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director John B. Replogle bought 2,240 shares of the company’s stock in a transaction dated 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 completion of the acquisition, the director now owns 9,304 shares of the company’s stock, valued at $1,047,630.40. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Douglas J. Treff sold 10,594 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $132.38, for a total transaction of $1,402,433.72. Following the completion of the transaction, the director now owns 81,254 shares in the company, valued at $10,756,404.52. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.72% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Crocs

Institutional investors have recently made changes to their positions in the stock. Financial Management Professionals Inc. increased its stake in Crocs by 11,200.0% during the 3rd quarter. Financial Management Professionals Inc. now owns 226 shares of the textile maker’s stock worth $33,000 after acquiring an additional 224 shares during the period. GHP Investment Advisors Inc. raised its stake in Crocs by 375.0% in the second quarter. GHP Investment Advisors Inc. now owns 228 shares of the textile maker’s stock valued at $33,000 after purchasing an additional 180 shares in the last quarter. UMB Bank n.a. lifted its position in Crocs by 64.9% during the third quarter. UMB Bank n.a. now owns 305 shares of the textile maker’s stock worth $44,000 after purchasing an additional 120 shares during the period. V Square Quantitative Management LLC grew its stake in Crocs by 83.0% during the third quarter. V Square Quantitative Management LLC now owns 313 shares of the textile maker’s stock worth $45,000 after buying an additional 142 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in Crocs by 19.3% in the 2nd quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker’s stock valued at $144,000 after buying an additional 162 shares during the period. 93.44% of the stock is currently owned by institutional investors.

Crocs Stock Down 2.3 %

The firm’s 50-day moving average price is $137.05 and its 200 day moving average price is $138.45. 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 company has a market capitalization of $6.47 billion, a price-to-earnings ratio of 8.20, a PEG ratio of 1.35 and a beta of 1.99.

Crocs (NASDAQ:CROX) last announced 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. Crocs had a net margin of 20.02% and a return on equity of 53.20%. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the previous year, the business earned $3.25 earnings per share. The company’s revenue was up 1.6% on a year-over-year basis. On average, sell-side analysts forecast that Crocs, Inc. will post 12.88 EPS for the current fiscal year.

About Crocs

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.