Guggenheim Issues Pessimistic Forecast for Crocs (NASDAQ:CROX) Stock Price

Crocs (NASDAQ:CROX) had its price target reduced by Guggenheim from $182.00 to $155.00 in a report issued on Wednesday, Benzinga reports. They currently have a buy rating on the textile maker’s stock.

A number of other research analysts have also weighed in on CROX. Piper Sandler reiterated an “overweight” rating and issued a $170.00 price objective on shares of Crocs in a research note on Friday, August 23rd. UBS Group reduced their price objective on shares of Crocs from $146.00 to $122.00 and set a “neutral” rating for the company in a research note on Wednesday. Williams Trading upgraded shares of Crocs from a “hold” rating to a “buy” rating and lifted their price objective for the company from $135.00 to $163.00 in a research note on Thursday, August 22nd. Wedbush reiterated an “outperform” rating and issued a $170.00 price objective on shares of Crocs in a research note on Monday, July 29th. Finally, StockNews.com upgraded shares of Crocs from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $154.00.

Crocs Trading Down 1.5 %

NASDAQ:CROX opened at $106.21 on Wednesday. The company has a current ratio of 1.43, a quick ratio of 0.95 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $6.19 billion, a PE ratio of 7.70, a price-to-earnings-growth ratio of 1.10 and a beta of 2.01. The firm’s 50 day moving average is $135.60 and its 200 day moving average is $138.11. Crocs has a 12 month low of $74.00 and a 12 month high of $165.32.

Crocs (NASDAQ:CROX) last posted its quarterly earnings results on Tuesday, October 29th. The textile maker reported $3.60 EPS for the quarter, topping analysts’ consensus estimates of $3.10 by $0.50. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Crocs had a net margin of 20.50% and a return on equity of 49.70%. Crocs’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.25 EPS. Sell-side analysts expect that Crocs will post 12.94 earnings per share for the current year.

Insider Buying and Selling

In related news, Director John B. Replogle bought 2,240 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was bought at an average cost of $112.60 per share, for a total transaction of $252,224.00. Following the completion of the transaction, the director now owns 9,304 shares of the company’s stock, valued at approximately $1,047,630.40. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director John B. Replogle bought 2,240 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was bought at an average cost of $112.60 per share, for a total transaction of $252,224.00. Following the completion of the transaction, the director now owns 9,304 shares of the company’s stock, valued at approximately $1,047,630.40. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Douglas J. Treff sold 10,594 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was 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 owns 81,254 shares of the company’s stock, valued at $10,756,404.52. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.72% of the stock is owned by company insiders.

Institutional Trading of Crocs

Hedge funds have recently added to or reduced their stakes in the business. GHP Investment Advisors Inc. lifted its stake in Crocs by 375.0% in the second quarter. GHP Investment Advisors Inc. now owns 228 shares of the textile maker’s stock worth $33,000 after purchasing an additional 180 shares during the last quarter. Financial Management Professionals Inc. lifted its stake in 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 purchasing an additional 224 shares during the last quarter. UMB Bank n.a. lifted its stake in Crocs by 64.9% in the third quarter. UMB Bank n.a. now owns 305 shares of the textile maker’s stock worth $44,000 after purchasing an additional 120 shares during the last quarter. V Square Quantitative Management LLC lifted its stake in Crocs by 83.0% in the third quarter. V Square Quantitative Management LLC now owns 313 shares of the textile maker’s stock worth $45,000 after purchasing an additional 142 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake 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 purchasing an additional 162 shares during the last quarter. 93.44% of the stock is owned by institutional investors.

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.