Crocs (NASDAQ:CROX) Now Covered by Analysts at The Goldman Sachs Group

Equities research analysts at The Goldman Sachs Group assumed coverage on shares of Crocs (NASDAQ:CROX) in a research note issued on Wednesday, Marketbeat Ratings reports. The firm set a “sell” rating and a $88.00 price target on the textile maker’s stock. The Goldman Sachs Group’s price objective points to a potential downside of 18.14% from the stock’s current price.

A number of other brokerages have also commented on CROX. Barclays cut their price objective on shares of Crocs from $122.00 to $119.00 and set an “overweight” rating on the stock in a research report on Friday, May 9th. Piper Sandler lowered their price target on shares of Crocs from $125.00 to $115.00 and set an “overweight” rating on the stock in a research note on Friday, April 11th. Needham & Company LLC increased their price objective on shares of Crocs from $118.00 to $129.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. Loop Capital raised their price objective on Crocs from $110.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, April 1st. Finally, Stifel Nicolaus lowered their target price on Crocs from $138.00 to $127.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $135.13.

Crocs Stock Up 0.7%

CROX stock opened at $107.50 on Wednesday. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.52 and a quick ratio of 0.97. The stock has a market capitalization of $6.03 billion, a P/E ratio of 6.59, a P/E/G ratio of 2.21 and a beta of 1.38. Crocs has a fifty-two week low of $86.11 and a fifty-two week high of $151.13. The business has a 50-day moving average of $104.44 and a 200-day moving average of $103.38.

Crocs (NASDAQ:CROX) last released its earnings results on Thursday, May 8th. The textile maker reported $3.00 EPS for the quarter, beating the consensus estimate of $2.51 by $0.49. Crocs had a return on equity of 43.07% and a net margin of 23.35%. The firm had revenue of $937.33 million for the quarter, compared to analysts’ expectations of $907.07 million. During the same quarter in the previous year, the business posted $3.02 EPS. The business’s quarterly revenue was down .1% compared to the same quarter last year. On average, sell-side analysts anticipate that Crocs will post 13.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Crocs news, Director Ian Bickley sold 3,044 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $115.89, for a total transaction of $352,769.16. Following the transaction, the director owned 27,505 shares of the company’s stock, valued at $3,187,554.45. The trade was a 9.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.00% of the company’s stock.

Institutional Trading of Crocs

A number of hedge funds have recently made changes to their positions in CROX. Costello Asset Management INC acquired a new position in shares of Crocs during the 1st quarter worth approximately $32,000. Larson Financial Group LLC boosted its position in Crocs by 541.8% during the first quarter. Larson Financial Group LLC now owns 353 shares of the textile maker’s stock worth $37,000 after purchasing an additional 298 shares during the period. IMA Advisory Services Inc. bought a new position in Crocs during the first quarter worth $40,000. Brooklyn Investment Group acquired a new position in shares of Crocs in the first quarter valued at $40,000. Finally, Allianz SE bought a new position in shares of Crocs in the fourth quarter valued at about $53,000. 93.44% of the stock is owned by institutional investors and hedge funds.

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.