Crocs Inc. (CROX) Rating Lowered to Sell at TheStreet
Crocs Inc. (NASDAQ:CROX) was downgraded by TheStreet to a “sell” rating in a research report issued to clients and investors on Wednesday.
CROX has been the subject of several other research reports. Zacks Investment Research raised shares of Crocs from a “sell” rating to a “hold” rating in a report on Tuesday, October 11th. Piper Jaffray Cos. reaffirmed a “neutral” rating and set a $8.00 target price (down previously from $10.00) on shares of Crocs in a research note on Thursday, August 4th. B. Riley reaffirmed a “neutral” rating and set a $10.00 target price on shares of Crocs in a research note on Tuesday, August 2nd. Monness Crespi & Hardt lowered their target price on shares of Crocs from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, August 4th. Finally, Susquehanna assumed coverage on shares of Crocs in a research note on Friday, August 12th. They set a “neutral” rating and a $9.50 target price on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $11.00.
Shares of Crocs (NASDAQ:CROX) traded up 1.300% during midday trading on Wednesday, hitting $8.185. 83,129 shares of the stock traded hands. The stock’s market cap is $601.47 million. The company’s 50 day moving average price is $8.43 and its 200-day moving average price is $9.53. Crocs has a 12-month low of $7.63 and a 12-month high of $12.54.
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Crocs (NASDAQ:CROX) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.19 by $0.06. The company earned $323.80 million during the quarter, compared to analysts’ expectations of $348.46 million. Crocs had a negative return on equity of 16.50% and a negative net margin of 6.31%. Crocs’s revenue was down 6.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.11 EPS. On average, equities research analysts expect that Crocs will post ($0.03) EPS for the current year.
In related news, CFO Carrie W. Teffner bought 7,500 shares of the firm’s stock in a transaction on Wednesday, August 24th. The shares were bought at an average price of $8.85 per share, with a total value of $66,375.00. Following the completion of the transaction, the chief financial officer now directly owns 349,188 shares of the company’s stock, valued at approximately $3,090,313.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of CROX. Louisiana State Employees Retirement System raised its stake in shares of Crocs by 0.6% in the second quarter. Louisiana State Employees Retirement System now owns 32,500 shares of the company’s stock worth $367,000 after buying an additional 200 shares during the period. Capstone Asset Management Co. raised its stake in shares of Crocs by 2.5% in the second quarter. Capstone Asset Management Co. now owns 21,869 shares of the company’s stock worth $247,000 after buying an additional 530 shares during the period. PineBridge Investments L.P. raised its stake in shares of Crocs by 7.5% in the second quarter. PineBridge Investments L.P. now owns 9,303 shares of the company’s stock worth $105,000 after buying an additional 647 shares during the period. Arizona State Retirement System raised its stake in shares of Crocs by 1.9% in the second quarter. Arizona State Retirement System now owns 38,088 shares of the company’s stock worth $430,000 after buying an additional 700 shares during the period. Finally, Hsbc Holdings PLC raised its stake in shares of Crocs by 6.8% in the second quarter. Hsbc Holdings PLC now owns 11,350 shares of the company’s stock worth $128,000 after buying an additional 722 shares during the period. Institutional investors own 99.86% of the company’s stock.
Crocs Company Profile
Crocs, Inc is engaged in the design, development, manufacturing, across the world marketing and distribution of casual lifestyle footwear and accessories for men, women and children. The Company’s segments include Americas, Asia Pacific and Europe. The Americas segment consists of the product sales in the North and South America geographic regions.
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