Crocs (NASDAQ:CROX) Price Target Cut to $150.00 by Analysts at KeyCorp

Crocs (NASDAQ:CROX) had its price target lowered by analysts at KeyCorp from $155.00 to $150.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the textile maker’s stock. KeyCorp’s target price would suggest a potential upside of 35.37% from the company’s current price.

Several other brokerages have also issued reports on CROX. UBS Group lowered their target price on Crocs from $146.00 to $122.00 and set a “neutral” rating for the company in a research report on Wednesday. Raymond James lowered Crocs from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Piper Sandler reaffirmed an “overweight” rating and issued a $170.00 price target on shares of Crocs in a research note on Friday, August 23rd. Wedbush reissued an “outperform” rating and issued a $170.00 price target on shares of Crocs in a research report on Monday, July 29th. Finally, Monness Crespi & Hardt lowered their price objective on shares of Crocs from $170.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $156.38.

Crocs Price Performance

Shares of CROX traded down $0.77 during trading hours on Wednesday, reaching $110.81. The stock had a trading volume of 1,745,719 shares, compared to its average volume of 1,317,709. The stock has a market capitalization of $6.58 billion, a PE ratio of 8.39, a PEG ratio of 1.35 and a beta of 1.99. Crocs has a 12 month low of $74.00 and a 12 month high of $165.32. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.95 and a current ratio of 1.50. The company’s 50-day moving average is $137.69 and its two-hundred day moving average is $138.65.

Crocs (NASDAQ:CROX) last announced its quarterly earnings results on Tuesday, October 29th. The textile maker reported $3.60 EPS for the quarter, beating analysts’ consensus estimates of $3.13 by $0.47. Crocs had a return on equity of 53.20% and a net margin of 20.02%. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period last year, the firm posted $3.25 earnings per share. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. Research analysts expect that Crocs will post 12.88 EPS for the current year.

Insider Transactions at Crocs

In other news, Director Douglas J. Treff sold 10,594 shares of the 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 in the company, valued at approximately $10,756,404.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Crocs news, Director Douglas J. Treff sold 10,594 shares of the 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 sale, the director now owns 81,254 shares in the company, valued at $10,756,404.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John B. Replogle purchased 1,996 shares of Crocs stock in a transaction dated Friday, August 2nd. The stock was bought at an average price of $123.96 per share, with a total value of $247,424.16. Following the completion of the transaction, the director now owns 7,064 shares of the company’s stock, valued at $875,653.44. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 2.72% of the stock is currently owned by company insiders.

Institutional Trading of Crocs

Institutional investors and hedge funds have recently modified their holdings of the business. Financial Management Professionals Inc. lifted its holdings in shares of Crocs by 11,200.0% during the 3rd quarter. Financial Management Professionals Inc. now owns 226 shares of the textile maker’s stock worth $33,000 after acquiring an additional 224 shares during the last quarter. GHP Investment Advisors Inc. boosted its holdings in shares of Crocs by 375.0% in the 2nd quarter. GHP Investment Advisors Inc. now owns 228 shares of the textile maker’s stock worth $33,000 after purchasing an additional 180 shares in the last quarter. UMB Bank n.a. increased its position in shares of Crocs by 64.9% during the 3rd quarter. UMB Bank n.a. now owns 305 shares of the textile maker’s stock valued at $44,000 after purchasing an additional 120 shares during the last quarter. V Square Quantitative Management LLC raised its holdings in shares of Crocs by 83.0% during the 3rd quarter. V Square Quantitative Management LLC now owns 313 shares of the textile maker’s stock valued at $45,000 after buying an additional 142 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in Crocs by 19.3% in the 2nd quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker’s stock worth $144,000 after buying an additional 162 shares during the last quarter. Hedge funds and other institutional investors own 93.44% of the company’s stock.

Crocs Company Profile

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.