ValuEngine cut shares of Crocs (NASDAQ:CROX) from a hold rating to a sell rating in a research note issued to investors on Friday morning, ValuEngine reports.

Other equities analysts have also issued reports about the stock. Zacks Investment Research raised shares of Crocs from a hold rating to a strong-buy rating and set a $28.00 target price on the stock in a report on Friday, August 2nd. Stifel Nicolaus lifted their price target on shares of Crocs from $21.00 to $23.00 and gave the company a hold rating in a report on Friday, August 2nd. BidaskClub raised shares of Crocs from a hold rating to a buy rating in a report on Thursday, August 8th. Susquehanna Bancshares lifted their price target on shares of Crocs from $35.00 to $38.00 and gave the company a positive rating in a report on Friday, August 2nd. Finally, Robert W. Baird raised shares of Crocs from a neutral rating to an outperform rating and set a $29.00 price target on the stock in a report on Friday, June 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Crocs currently has an average rating of Buy and an average price target of $30.29.

CROX stock opened at $24.27 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.74 and a debt-to-equity ratio of 3.03. Crocs has a 12 month low of $17.52 and a 12 month high of $31.88. The firm has a market cap of $1.64 billion, a P/E ratio of 26.78, a P/E/G ratio of 1.12 and a beta of 0.96. The company’s 50-day moving average price is $22.57 and its two-hundred day moving average price is $24.05.

Crocs (NASDAQ:CROX) last released its earnings results on Thursday, August 1st. The textile maker reported $0.55 EPS for the quarter, beating the consensus estimate of $0.48 by $0.07. Crocs had a net margin of 5.61% and a return on equity of 47.15%. The firm had revenue of $358.90 million for the quarter, compared to analyst estimates of $360.46 million. During the same period last year, the firm earned $0.35 EPS. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. Equities analysts predict that Crocs will post 1.4 EPS for the current year.

Crocs announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, May 7th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the textile maker to repurchase up to 25.8% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.

In related news, Director Doreen A. Wright sold 7,068 shares of Crocs stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $26.00, for a total transaction of $183,768.00. Following the sale, the director now directly owns 55,680 shares of the company’s stock, valued at approximately $1,447,680. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.42% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Signaturefd LLC bought a new stake in Crocs during the 1st quarter worth approximately $29,000. FMR LLC grew its holdings in Crocs by 54.2% during the 1st quarter. FMR LLC now owns 2,846 shares of the textile maker’s stock worth $73,000 after acquiring an additional 1,000 shares during the last quarter. Meeder Asset Management Inc. grew its holdings in Crocs by 24.9% during the 1st quarter. Meeder Asset Management Inc. now owns 5,113 shares of the textile maker’s stock worth $130,000 after acquiring an additional 1,019 shares during the last quarter. NumerixS Investment Technologies Inc grew its holdings in Crocs by 277.3% during the 1st quarter. NumerixS Investment Technologies Inc now owns 6,414 shares of the textile maker’s stock worth $168,000 after acquiring an additional 4,714 shares during the last quarter. Finally, Quantamental Technologies LLC grew its holdings in Crocs by 105.5% during the 1st quarter. Quantamental Technologies LLC now owns 7,709 shares of the textile maker’s stock worth $199,000 after acquiring an additional 3,957 shares during the last quarter. 97.21% of the stock is currently owned by institutional investors.

About Crocs

Crocs, Inc, together with its subsidiaries, designs, develops, manufactures, markets, and distributes casual lifestyle footwear and accessories for men, women, and children worldwide. It offers various footwear products, including clogs, sandals, flips and slides, shoes, and boots under the Crocs brand name.

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Analyst Recommendations for Crocs (NASDAQ:CROX)

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