TheStreet Lowers Crocs Inc. (CROX) to Sell
Crocs Inc. (NASDAQ:CROX) was downgraded by stock analysts at TheStreet to a “sell” rating in a report issued on Wednesday.
Several other equities analysts have also commented on the stock. Zacks Investment Research lowered shares of Crocs from a “hold” rating to a “sell” rating in a report on Tuesday, July 12th. B. Riley reiterated a “neutral” rating and set a $10.00 target price on shares of Crocs in a research report on Tuesday, August 2nd. Monness Crespi & Hardt cut their target price on shares of Crocs from $13.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, August 4th. Piper Jaffray Cos. reiterated a “neutral” rating and set a $8.00 target price (down from $10.00) on shares of Crocs in a research report on Thursday, August 4th. Finally, Susquehanna initiated coverage on shares of Crocs in a research report on Friday, August 12th. They set a “neutral” rating and a $9.50 target price on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. Crocs has a consensus rating of “Hold” and a consensus target price of $11.00.
Crocs (NASDAQ:CROX) traded up 0.99% on Wednesday, hitting $8.16. 41,281 shares of the stock traded hands. Crocs has a 52 week low of $7.63 and a 52 week high of $12.54. The firm’s 50 day moving average is $8.43 and its 200 day moving average is $9.53. The stock’s market cap is $599.64 million.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/19/thestreet-lowers-crocs-inc-crox-to-sell.html
Crocs (NASDAQ:CROX) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by $0.06. Crocs had a negative return on equity of 16.50% and a negative net margin of 6.31%. The business had revenue of $323.80 million for the quarter, compared to the consensus estimate of $348.46 million. During the same period in the prior year, the business posted $0.11 earnings per share. Crocs’s revenue was down 6.3% compared to the same quarter last year. Equities analysts anticipate that Crocs will post ($0.03) earnings per share for the current year.
In related news, CFO Carrie W. Teffner purchased 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 24th. The shares were bought at an average cost of $8.85 per share, with a total value of $66,375.00. Following the acquisition, the chief financial officer now owns 349,188 shares of the company’s stock, valued at $3,090,313.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.00% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Waddell & Reed Financial Inc. bought a new position in shares of Crocs during the second quarter worth $8,764,000. JPMorgan Chase & Co. increased its position in shares of Crocs by 11.1% in the second quarter. JPMorgan Chase & Co. now owns 5,442,948 shares of the company’s stock worth $61,397,000 after buying an additional 545,852 shares during the period. Chartwell Investment Partners LLC bought a new position in shares of Crocs during the second quarter worth $2,969,000. Victory Capital Management Inc. increased its position in shares of Crocs by 12.4% in the second quarter. Victory Capital Management Inc. now owns 2,243,386 shares of the company’s stock worth $25,305,000 after buying an additional 247,921 shares during the period. Finally, BlackRock Fund Advisors increased its position in shares of Crocs by 3.9% in the second quarter. BlackRock Fund Advisors now owns 4,777,869 shares of the company’s stock worth $53,894,000 after buying an additional 180,107 shares during the period. 99.86% of the stock is currently owned by institutional investors.
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.
Receive News & Ratings for Crocs Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crocs Inc. and related companies with MarketBeat.com's FREE daily email newsletter.