Crocs (NASDAQ:CROX) Cut to “Hold” at Loop Capital

Crocs (NASDAQ:CROX) was downgraded by Loop Capital from a “buy” rating to a “hold” rating in a research report issued on Thursday, Marketbeat Ratings reports. They presently have a $110.00 price objective on the textile maker’s stock, down from their previous price objective of $150.00. Loop Capital’s price objective would indicate a potential upside of 8.59% from the stock’s current price.

Other analysts have also recently issued reports about the company. Guggenheim dropped their price target on Crocs from $182.00 to $155.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Barclays reduced their target price on shares of Crocs from $164.00 to $125.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th. Raymond James lowered shares of Crocs from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. UBS Group cut their price objective on shares of Crocs from $146.00 to $122.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Finally, Robert W. Baird lowered their target price on Crocs from $190.00 to $180.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Crocs currently has a consensus rating of “Moderate Buy” and a consensus price target of $151.14.

Crocs Trading Down 0.5 %

Crocs stock opened at $101.30 on Thursday. The stock’s 50 day simple moving average is $131.59 and its two-hundred day simple moving average is $137.49. Crocs has a 12 month low of $77.16 and a 12 month high of $165.32. The firm has a market cap of $5.90 billion, a PE ratio of 7.35, a P/E/G ratio of 1.07 and a beta of 2.01. The company has a current ratio of 1.43, a quick ratio of 0.90 and a debt-to-equity ratio of 0.82.

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 $3.10 by $0.50. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. Crocs had a return on equity of 49.70% and a net margin of 20.50%. Crocs’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period last year, the company earned $3.25 earnings per share. Analysts anticipate that Crocs will post 12.93 earnings per share for the current year.

Insider Buying and Selling at Crocs

In related news, Director John B. Replogle acquired 2,240 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were purchased at an average cost of $112.60 per share, for a total transaction 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 position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.72% of the company’s stock.

Hedge Funds Weigh In On Crocs

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. National Bank of Canada FI raised its stake in shares of Crocs by 8,437.1% in the second quarter. National Bank of Canada FI now owns 182,695 shares of the textile maker’s stock valued at $26,993,000 after acquiring an additional 180,555 shares in the last quarter. Pacer Advisors Inc. boosted its stake in Crocs by 15.1% in the second quarter. Pacer Advisors Inc. now owns 1,091,097 shares of the textile maker’s stock valued at $159,235,000 after acquiring an additional 142,944 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Crocs in the 2nd quarter valued at about $19,598,000. LSV Asset Management boosted its holdings in shares of Crocs by 73.3% in the first quarter. LSV Asset Management now owns 300,413 shares of the textile maker’s stock valued at $43,199,000 after acquiring an additional 127,100 shares during the period. Finally, Distillate Capital Partners LLC acquired a new stake in Crocs during the 2nd quarter worth $13,483,000. 93.44% of the stock is currently owned by hedge funds and other institutional investors.

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.