Bank of America Has Lowered Expectations for Crocs (NASDAQ:CROX) Stock Price

Crocs (NASDAQ:CROX - Get Free Report) had its price target reduced by investment analysts at Bank of America from $140.00 to $135.00 in a report released on Monday,Benzinga reports. The firm currently has a "buy" rating on the textile maker's stock. Bank of America's price objective points to a potential upside of 25.58% from the company's previous close.

Other equities research analysts have also issued reports about the company. Barclays cut their target price on Crocs from $122.00 to $119.00 and set an "overweight" rating on the stock in a research report on Friday, May 9th. Loop Capital lifted their price target on Crocs from $110.00 to $125.00 and gave the stock a "buy" rating in a research note on Tuesday, April 1st. Piper Sandler cut their price objective on Crocs from $125.00 to $115.00 and set an "overweight" rating on the stock in a report on Friday, April 11th. Needham & Company LLC raised their target price on shares of Crocs from $118.00 to $129.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Finally, Stifel Nicolaus dropped their target price on shares of Crocs from $138.00 to $127.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $135.13.

Crocs Price Performance

NASDAQ:CROX traded up $0.76 during mid-day trading on Monday, reaching $107.50. 560,190 shares of the stock were exchanged, compared to its average volume of 1,522,814. The business has a fifty day moving average price of $104.26 and a 200 day moving average price of $103.39. The firm has a market capitalization of $6.03 billion, a PE ratio of 6.59, a PEG ratio of 2.21 and a beta of 1.38. The company has a current ratio of 1.52, a quick ratio of 0.97 and a debt-to-equity ratio of 0.75. Crocs has a 1-year low of $86.11 and a 1-year high of $151.13.

Crocs (NASDAQ:CROX - Get Free Report) last released its earnings results on Thursday, May 8th. The textile maker reported $3.00 EPS for the quarter, beating the consensus estimate of $2.51 by $0.49. The business had revenue of $937.33 million during the quarter, compared to analyst estimates of $907.07 million. Crocs had a net margin of 23.35% and a return on equity of 43.07%. The business's quarterly revenue was down .1% on a year-over-year basis. During the same period in the prior year, the business earned $3.02 earnings per share. Research analysts expect that Crocs will post 13.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Crocs news, Director Ian Bickley sold 3,044 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $115.89, for a total value of $352,769.16. Following the completion of the sale, the director owned 27,505 shares in the company, valued at $3,187,554.45. This represents a 9.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.00% of the company's stock.

Hedge Funds Weigh In On Crocs

A number of hedge funds have recently modified their holdings of the stock. Costello Asset Management INC purchased a new position in Crocs in the first quarter valued at about $32,000. Larson Financial Group LLC lifted its holdings in shares of Crocs by 541.8% during the 1st quarter. Larson Financial Group LLC now owns 353 shares of the textile maker's stock valued at $37,000 after buying an additional 298 shares during the last quarter. IMA Advisory Services Inc. bought a new stake in shares of Crocs in the 1st quarter valued at approximately $40,000. Brooklyn Investment Group bought a new stake in shares of Crocs in the 1st quarter valued at approximately $40,000. Finally, Allianz SE acquired a new position in Crocs in the fourth quarter worth approximately $53,000. 93.44% of the stock is owned by institutional investors and hedge funds.

Crocs Company Profile

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.