Crocs (NASDAQ:CROX) Downgraded by ValuEngine to “Sell”

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Crocs (NASDAQ:CROX) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Tuesday, ValuEngine reports.

Several other equities research analysts have also commented on the stock. Monness Crespi & Hardt lifted their price target on shares of Crocs from $32.00 to $44.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. BidaskClub upgraded shares of Crocs from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Zacks Investment Research lifted their price target on shares of Crocs to $32.00 in a research note on Wednesday, September 18th. Piper Jaffray Companies reiterated a “buy” rating and set a $44.00 price target on shares of Crocs in a research note on Monday, November 25th. Finally, Pivotal Research reiterated a “buy” rating and set a $39.00 price target on shares of Crocs in a research note on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. Crocs presently has a consensus rating of “Buy” and an average target price of $35.57.

Shares of NASDAQ:CROX opened at $33.43 on Tuesday. The company’s fifty day moving average price is $34.57 and its 200 day moving average price is $26.08. Crocs has a 12 month low of $17.52 and a 12 month high of $39.13. The company has a debt-to-equity ratio of 2.80, a current ratio of 1.68 and a quick ratio of 1.08. The firm has a market capitalization of $2.39 billion, a P/E ratio of 38.87 and a beta of 0.98.

Crocs (NASDAQ:CROX) last announced its quarterly earnings results on Wednesday, October 30th. The textile maker reported $0.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.16. Crocs had a net margin of 7.49% and a return on equity of 78.24%. The firm had revenue of $312.80 million for the quarter, compared to analyst estimates of $302.06 million. During the same period last year, the business earned $0.07 EPS. Crocs’s revenue for the quarter was up 19.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Crocs will post 1.62 EPS for the current year.

In other Crocs news, major shareholder Holdings L.P. Blackstone III sold 6,864,545 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $35.42, for a total transaction of $243,142,183.90. Company insiders own 2.42% of the company’s stock.

A number of institutional investors have recently modified their holdings of CROX. FMR LLC grew its position in Crocs by 54.2% during the 1st quarter. FMR LLC now owns 2,846 shares of the textile maker’s stock worth $73,000 after purchasing an additional 1,000 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in Crocs by 1.9% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 26,371 shares of the textile maker’s stock worth $521,000 after purchasing an additional 500 shares during the last quarter. Quantitative Systematic Strategies LLC grew its position in Crocs by 88.9% during the 2nd quarter. Quantitative Systematic Strategies LLC now owns 33,247 shares of the textile maker’s stock worth $657,000 after purchasing an additional 15,644 shares during the last quarter. TLW Wealth Management LLC grew its position in Crocs by 10.8% during the 2nd quarter. TLW Wealth Management LLC now owns 228,560 shares of the textile maker’s stock worth $4,514,000 after purchasing an additional 22,327 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. grew its position in Crocs by 127.9% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 57,345 shares of the textile maker’s stock worth $1,133,000 after purchasing an additional 32,185 shares during the last quarter.

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.

Read More: Debt-To-Equity Ratio

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Crocs (NASDAQ:CROX)

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