Crocs (NASDAQ:CROX) Downgraded by Raymond James to “Market Perform”

Raymond James lowered shares of Crocs (NASDAQ:CROX) from an outperform rating to a market perform rating in a report released on Wednesday, Marketbeat reports.

Several other brokerages have also issued reports on CROX. UBS Group cut their target price on Crocs from $148.00 to $146.00 and set a “neutral” rating for the company in a research note on Tuesday, July 16th. KeyCorp boosted their target price on Crocs from $149.00 to $155.00 and gave the company an “overweight” rating in a research note on Thursday, September 26th. Guggenheim assumed coverage on shares of Crocs in a report on Wednesday, October 9th. They issued a “buy” rating and a $182.00 target price on the stock. Wedbush reissued an “outperform” rating and set a $170.00 price target on shares of Crocs in a research report on Monday, July 29th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $170.00 price objective on shares of Crocs in a research note on Friday, August 23rd. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $154.00.

Crocs Price Performance

CROX stock opened at $109.00 on Wednesday. The firm has a 50 day simple moving average of $137.05 and a two-hundred day simple moving average of $138.45. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.50 and a quick ratio of 0.95. The stock has a market cap of $6.47 billion, a PE ratio of 8.20, a P/E/G ratio of 1.35 and a beta of 1.99. Crocs has a one year low of $74.00 and a one year high of $165.32.

Crocs (NASDAQ:CROX) last released its earnings results on Tuesday, October 29th. The textile maker reported $3.60 EPS for the quarter, beating analysts’ consensus estimates of $3.13 by $0.47. Crocs had a return on equity of 53.20% and a net margin of 20.02%. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the prior year, the firm earned $3.25 earnings per share. The firm’s revenue was up 1.6% on a year-over-year basis. On average, analysts predict that Crocs will post 12.88 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Douglas J. Treff sold 10,594 shares of the business’s stock in a transaction on 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 sale, the director now owns 81,254 shares in the company, valued at approximately $10,756,404.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Douglas J. Treff sold 10,594 shares of Crocs 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 directly owns 81,254 shares of the company’s stock, valued at $10,756,404.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John B. Replogle acquired 2,240 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was acquired at an average price of $112.60 per share, for a total transaction of $252,224.00. Following the acquisition, the director now owns 9,304 shares of the company’s stock, valued at approximately $1,047,630.40. 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 corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Financial Management Professionals Inc. grew its stake in shares of Crocs by 11,200.0% in the third 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 last quarter. GHP Investment Advisors Inc. boosted its stake in Crocs by 375.0% in the 2nd quarter. GHP Investment Advisors Inc. now owns 228 shares of the textile maker’s stock worth $33,000 after purchasing an additional 180 shares in the last quarter. UMB Bank n.a. grew its position in Crocs by 64.9% during the 3rd quarter. UMB Bank n.a. now owns 305 shares of the textile maker’s stock valued at $44,000 after purchasing an additional 120 shares during the last quarter. V Square Quantitative Management LLC increased its stake in Crocs by 83.0% during the 3rd quarter. V Square Quantitative Management LLC now owns 313 shares of the textile maker’s stock valued at $45,000 after purchasing an additional 142 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in Crocs by 19.3% in the second quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker’s stock worth $144,000 after buying an additional 162 shares during the last quarter. Hedge funds and other institutional investors own 93.44% of the company’s stock.

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.