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

Crocs (NASDAQ:CROX) had its price target cut by equities researchers at Guggenheim from $182.00 to $155.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the textile maker’s stock. Guggenheim’s target price points to a potential upside of 43.76% from the stock’s previous close.

Other research analysts have also recently issued reports about the stock. UBS Group decreased their target price on shares of Crocs from $146.00 to $122.00 and set a “neutral” rating for the company in a report on Wednesday. Monness Crespi & Hardt decreased their target price on shares of Crocs from $170.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday. Williams Trading upgraded shares of Crocs from a “hold” rating to a “buy” rating and raised their target price for the stock from $135.00 to $163.00 in a report on Thursday, August 22nd. StockNews.com upgraded shares of Crocs from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Finally, Piper Sandler restated an “overweight” rating and set a $170.00 price target on shares of Crocs in a report on Friday, August 23rd. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $154.00.

Crocs Stock Performance

Shares of CROX opened at $107.82 on Wednesday. The firm’s 50 day moving average is $137.05 and its 200-day moving average is $138.45. The stock has a market capitalization of $6.40 billion, a P/E ratio of 8.11, a P/E/G ratio of 1.35 and a beta of 1.99. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.50 and a quick ratio of 0.95. Crocs has a 12-month low of $74.00 and a 12-month high of $165.32.

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

Insider Activity

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

Hedge Funds Weigh In On Crocs

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Catalyst Capital Advisors LLC increased its position in Crocs by 2,775.6% during the third quarter. Catalyst Capital Advisors LLC now owns 7,908 shares of the textile maker’s stock worth $1,145,000 after acquiring an additional 7,633 shares during the period. QRG Capital Management Inc. increased its position in Crocs by 15.9% during the third quarter. QRG Capital Management Inc. now owns 2,213 shares of the textile maker’s stock worth $320,000 after acquiring an additional 303 shares during the period. IAG Wealth Partners LLC bought a new position in Crocs during the third quarter worth $796,000. Van ECK Associates Corp increased its position in Crocs by 40.0% during the third quarter. Van ECK Associates Corp now owns 36,618 shares of the textile maker’s stock worth $5,303,000 after acquiring an additional 10,463 shares during the period. Finally, Janney Montgomery Scott LLC increased its position in Crocs by 23.6% during the third quarter. Janney Montgomery Scott LLC now owns 21,189 shares of the textile maker’s stock worth $3,068,000 after acquiring an additional 4,051 shares during the period. Institutional investors own 93.44% of the company’s stock.

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.