BidaskClub Lowers Crocs (NASDAQ:CROX) to Hold

BidaskClub downgraded shares of Crocs (NASDAQ:CROX) from a buy rating to a hold rating in a research note released on Thursday morning, BidAskClub reports.

CROX has been the subject of several other research reports. Pivotal Research reaffirmed a buy rating on shares of Crocs in a research note on Friday, August 2nd. Zacks Investment Research raised Crocs from a hold rating to a strong-buy rating and set a $28.00 price target for the company in a research note on Friday, August 2nd. Stifel Nicolaus lifted their price target on Crocs from $21.00 to $23.00 and gave the stock a hold rating in a research note on Friday, August 2nd. CL King raised Crocs from a neutral rating to a buy rating in a research note on Thursday, June 27th. Finally, Susquehanna Bancshares lifted their price target on Crocs from $35.00 to $38.00 and gave the stock a positive rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $30.29.

Shares of CROX stock opened at $23.13 on Thursday. The company has a quick ratio of 1.22, a current ratio of 1.74 and a debt-to-equity ratio of 3.03. The business has a 50-day moving average price of $23.16 and a two-hundred day moving average price of $23.99. Crocs has a 12-month low of $17.52 and a 12-month high of $31.88. The firm has a market cap of $1.71 billion, a P/E ratio of 26.90, a price-to-earnings-growth ratio of 1.17 and a beta of 0.96.

Crocs (NASDAQ:CROX) last issued its quarterly earnings results on Thursday, August 1st. The textile maker reported $0.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.07. Crocs had a return on equity of 47.15% and a net margin of 5.61%. The firm had revenue of $358.90 million during the quarter, compared to analyst estimates of $360.46 million. During the same quarter in the previous year, the company posted $0.35 earnings per share. The company’s revenue was up 9.4% compared to the same quarter last year. As a group, research analysts expect that Crocs will post 1.4 EPS for the current fiscal year.

Crocs announced that its board has authorized a share repurchase plan on Tuesday, May 7th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the textile maker to buy up to 25.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

In other news, Director Doreen A. Wright sold 7,068 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $26.00, for a total value of $183,768.00. Following the completion of the sale, the director now owns 55,680 shares of the company’s stock, valued at approximately $1,447,680. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 2.42% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC lifted its stake in shares of Crocs by 15.4% in the 2nd quarter. Renaissance Technologies LLC now owns 3,855,300 shares of the textile maker’s stock valued at $76,142,000 after acquiring an additional 513,900 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its stake in shares of Crocs by 14.7% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 2,700,960 shares of the textile maker’s stock valued at $53,344,000 after acquiring an additional 345,547 shares during the last quarter. Marshall Wace LLP lifted its stake in shares of Crocs by 11.9% in the 2nd quarter. Marshall Wace LLP now owns 1,946,842 shares of the textile maker’s stock valued at $38,450,000 after acquiring an additional 207,378 shares during the last quarter. MERIAN GLOBAL INVESTORS UK Ltd lifted its stake in shares of Crocs by 7.0% in the 1st quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 1,590,019 shares of the textile maker’s stock valued at $40,942,000 after acquiring an additional 103,351 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Crocs by 1,273.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 856,427 shares of the textile maker’s stock valued at $22,053,000 after acquiring an additional 794,049 shares during the last quarter. 97.21% of the stock is owned by institutional investors.

Crocs Company Profile

Crocs, Inc, together with its subsidiaries, designs, develops, manufactures, markets, and distributes casual lifestyle footwear and accessories for men, women, and children worldwide. It offers various footwear products, including clogs, sandals, flips and slides, shoes, and boots under the Crocs brand name.

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Analyst Recommendations for Crocs (NASDAQ:CROX)

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