Crocs (NASDAQ:CROX) Shares Down 6.1% on Analyst Downgrade

Crocs, Inc. (NASDAQ:CROX) shares fell 6.1% during trading on Friday after Piper Sandler lowered their price target on the stock from $125.00 to $115.00. Piper Sandler currently has an overweight rating on the stock. Crocs traded as low as $89.34 and last traded at $89.64. 703,411 shares traded hands during mid-day trading, a decline of 51% from the average session volume of 1,440,449 shares. The stock had previously closed at $95.50.

Other equities analysts also recently issued research reports about the company. Barclays decreased their target price on Crocs from $125.00 to $122.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. Loop Capital increased their price objective on Crocs from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, April 1st. Guggenheim decreased their price target on shares of Crocs from $155.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. StockNews.com lowered shares of Crocs from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $129.00 target price on shares of Crocs in a report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Crocs currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.00.

Insider Activity

In related news, EVP Shannon Sisler sold 4,659 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $109.75, for a total transaction of $511,325.25. Following the sale, the executive vice president now owns 29,299 shares of the company’s stock, valued at $3,215,565.25. This trade represents a 13.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Adam Michaels sold 15,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $106.69, for a total value of $1,600,350.00. Following the completion of the transaction, the executive vice president now directly owns 89,323 shares of the company’s stock, valued at approximately $9,529,870.87. The trade was a 14.38 % decrease in their position. The disclosure for this sale can be found here. 2.72% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Crocs

Hedge funds have recently added to or reduced their stakes in the business. UMB Bank n.a. raised its stake in shares of Crocs by 46.6% during the fourth quarter. UMB Bank n.a. now owns 447 shares of the textile maker’s stock valued at $49,000 after acquiring an additional 142 shares during the last quarter. Allianz SE bought a new position in Crocs during the 4th quarter worth $53,000. Ameriflex Group Inc. bought a new position in Crocs during the 4th quarter worth $54,000. Parallel Advisors LLC lifted its holdings in Crocs by 26.5% during the 1st quarter. Parallel Advisors LLC now owns 630 shares of the textile maker’s stock worth $67,000 after buying an additional 132 shares during the period. Finally, NBC Securities Inc. bought a new stake in shares of Crocs in the 1st quarter valued at about $69,000. 93.44% of the stock is currently owned by institutional investors and hedge funds.

Crocs Trading Down 3.1 %

The company has a quick ratio of 0.70, a current ratio of 1.18 and a debt-to-equity ratio of 0.74. The company has a market cap of $5.19 billion, a price-to-earnings ratio of 5.79, a PEG ratio of 1.80 and a beta of 1.62. The firm has a 50 day moving average price of $101.91 and a two-hundred day moving average price of $109.90.

Crocs (NASDAQ:CROX) last released its quarterly earnings results on Thursday, February 13th. The textile maker reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.25. Crocs had a net margin of 23.16% and a return on equity of 46.27%. As a group, equities analysts forecast that Crocs, Inc. will post 13.2 earnings per share for the current 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.