Crocs (NASDAQ:CROX) Price Target Cut to $120.00 by Analysts at KeyCorp

Crocs (NASDAQ:CROX) had its price target reduced by KeyCorp from $150.00 to $120.00 in a research note published on Thursday,Benzinga reports. KeyCorp currently has an overweight rating on the textile maker’s stock.

Several other equities research analysts also recently weighed in on the stock. Robert W. Baird lowered their target price on shares of Crocs from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Guggenheim reissued a “buy” rating and issued a $155.00 price objective on shares of Crocs in a research report on Friday, December 6th. Raymond James lowered Crocs from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. Loop Capital downgraded Crocs from a “buy” rating to a “hold” rating and lowered their price target for the stock from $150.00 to $110.00 in a report on Thursday, November 7th. Finally, StockNews.com downgraded shares of Crocs from a “buy” rating to a “hold” rating in a report on Saturday, January 11th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $146.80.

Crocs Stock Up 2.4 %

Shares of NASDAQ CROX opened at $105.06 on Thursday. The stock has a market capitalization of $6.12 billion, a PE ratio of 7.62, a price-to-earnings-growth ratio of 1.80 and a beta of 1.95. The company has a current ratio of 1.43, a quick ratio of 0.90 and a debt-to-equity ratio of 0.82. Crocs has a 12-month low of $94.50 and a 12-month high of $165.32. The stock’s fifty day simple moving average is $107.56 and its two-hundred day simple moving average is $123.41.

Crocs (NASDAQ:CROX) last posted its earnings results on Tuesday, October 29th. The textile maker reported $3.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.10 by $0.50. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. Crocs had a return on equity of 49.70% and a net margin of 20.50%. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.25 earnings per share. As a group, analysts expect that Crocs will post 12.93 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Susan L. Healy acquired 1,000 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were acquired at an average price of $99.70 per share, with a total value of $99,700.00. Following the purchase, the chief financial officer now directly owns 22,652 shares of the company’s stock, valued at $2,258,404.40. This trade represents a 4.62 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John B. Replogle bought 2,240 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was purchased at an average price of $112.60 per share, with a total value of $252,224.00. Following the completion of the purchase, the director now owns 9,304 shares in the company, valued at approximately $1,047,630.40. This trade represents a 31.71 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.72% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Crocs

Several institutional investors and hedge funds have recently modified their holdings of the business. Financial Management Professionals Inc. increased its position in shares of Crocs by 11,200.0% in the third quarter. Financial Management Professionals Inc. now owns 226 shares of the textile maker’s stock valued at $33,000 after buying an additional 224 shares in the last quarter. UMB Bank n.a. grew its stake in Crocs by 64.9% in the 3rd quarter. UMB Bank n.a. now owns 305 shares of the textile maker’s stock valued at $44,000 after acquiring an additional 120 shares during the period. V Square Quantitative Management LLC increased its holdings in Crocs by 83.0% in the 3rd quarter. V Square Quantitative Management LLC now owns 313 shares of the textile maker’s stock worth $45,000 after acquiring an additional 142 shares in the last quarter. Avior Wealth Management LLC raised its position in Crocs by 109.5% during the third quarter. Avior Wealth Management LLC now owns 398 shares of the textile maker’s stock worth $58,000 after acquiring an additional 208 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new position in Crocs during the third quarter valued at $73,000. 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.