BidaskClub cut shares of Crocs, Inc. (NASDAQ:CROX) from a buy rating to a hold rating in a report published on Wednesday.
Other analysts have also recently issued reports about the company. TheStreet raised Crocs from a d rating to a c- rating in a research report on Wednesday, June 21st. B. Riley reissued a neutral rating and issued a $8.00 price target on shares of Crocs in a report on Monday, May 8th. Susquehanna Bancshares Inc reissued a neutral rating and issued a $7.00 price target (up from $6.00) on shares of Crocs in a report on Friday, May 12th. Finally, Zacks Investment Research cut Crocs from a hold rating to a strong sell rating in a report on Tuesday, May 9th. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $8.25.
Shares of Crocs (CROX) traded up 0.40% on Wednesday, reaching $7.54. The company had a trading volume of 991,371 shares. The company’s 50-day moving average price is $6.99 and its 200 day moving average price is $6.84. Crocs has a 52 week low of $5.93 and a 52 week high of $12.31. The firm’s market capitalization is $558.59 million.
Crocs (NASDAQ:CROX) last posted its quarterly earnings data on Wednesday, May 10th. The textile maker reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.08. Crocs had a negative return on equity of 4.89% and a negative net margin of 1.52%. The company had revenue of $267.90 million during the quarter, compared to analysts’ expectations of $258.10 million. During the same period last year, the firm earned $0.07 EPS. The firm’s revenue for the quarter was down 4.0% on a year-over-year basis. On average, analysts expect that Crocs will post ($0.04) EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC increased its position in Crocs by 141.5% in the fourth quarter. Renaissance Technologies LLC now owns 1,390,000 shares of the textile maker’s stock valued at $9,535,000 after buying an additional 814,400 shares during the last quarter. Morgan Stanley increased its position in Crocs by 37.6% in the first quarter. Morgan Stanley now owns 1,327,853 shares of the textile maker’s stock valued at $9,388,000 after buying an additional 362,712 shares during the last quarter. Norges Bank bought a new position in Crocs during the fourth quarter valued at $2,463,000. Vanguard Group Inc. increased its position in Crocs by 4.1% in the first quarter. Vanguard Group Inc. now owns 6,437,469 shares of the textile maker’s stock valued at $45,513,000 after buying an additional 253,305 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Crocs by 9.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,594,913 shares of the textile maker’s stock valued at $18,346,000 after buying an additional 220,190 shares during the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.
Crocs Company Profile
Crocs, Inc is engaged in the design, development, manufacturing, marketing, distribution and sale of casual lifestyle footwear and accessories for men, women, and children. The Company’s segments include Americas, Asia Pacific and Europe. Its products include footwear and accessories that utilize its closed-cell resin, called Croslite, as well as casual lifestyle footwear that use a range of materials.
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