Bank of America Issues Pessimistic Forecast for Crocs (NASDAQ:CROX) Stock Price

Crocs (NASDAQ:CROX - Get Free Report) had its price objective lowered by Bank of America from $140.00 to $135.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the textile maker's stock. Bank of America's price objective would suggest a potential upside of 31.62% from the company's current price.

A number of other research firms have also weighed in on CROX. Needham & Company LLC increased their target price on shares of Crocs from $118.00 to $129.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Piper Sandler dropped their target price on shares of Crocs from $125.00 to $115.00 and set an "overweight" rating on the stock in a research report on Friday, April 11th. Barclays reduced their target price on Crocs from $122.00 to $119.00 and set an "overweight" rating for the company in a report on Friday, May 9th. Stifel Nicolaus cut their price objective on Crocs from $138.00 to $127.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Finally, Loop Capital increased their price objective on Crocs from $110.00 to $125.00 and gave the stock a "buy" rating in a report on Tuesday, April 1st. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $138.50.

Crocs Stock Down 0.4%

Crocs stock opened at $102.57 on Monday. The company has a quick ratio of 0.97, a current ratio of 1.52 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $5.75 billion, a PE ratio of 6.26, a PEG ratio of 2.58 and a beta of 1.41. The firm's fifty day moving average is $103.54 and its 200 day moving average is $103.42. Crocs has a 12-month low of $86.11 and a 12-month high of $151.13.

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

Insider Activity

In other news, Director Ian Bickley sold 3,044 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $115.89, for a total value of $352,769.16. Following the sale, the director now directly owns 27,505 shares of the company's stock, valued at $3,187,554.45. The trade was a 9.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.72% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Crocs

A number of institutional investors have recently modified their holdings of CROX. Voya Investment Management LLC grew its position in Crocs by 45.9% during the 1st quarter. Voya Investment Management LLC now owns 53,240 shares of the textile maker's stock valued at $5,654,000 after purchasing an additional 16,753 shares during the last quarter. Belpointe Asset Management LLC lifted its position in Crocs by 90.9% during the first quarter. Belpointe Asset Management LLC now owns 5,873 shares of the textile maker's stock valued at $624,000 after purchasing an additional 2,797 shares during the period. Jupiter Wealth Management LLC boosted its holdings in Crocs by 13.9% in the first quarter. Jupiter Wealth Management LLC now owns 9,225 shares of the textile maker's stock worth $1,058,000 after purchasing an additional 1,125 shares during the last quarter. Intech Investment Management LLC grew its position in Crocs by 60.4% in the 1st quarter. Intech Investment Management LLC now owns 49,641 shares of the textile maker's stock worth $5,272,000 after purchasing an additional 18,697 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Crocs by 4.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 211,305 shares of the textile maker's stock valued at $22,441,000 after buying an additional 8,331 shares during the last quarter. 93.44% of the stock is owned by hedge funds and other institutional investors.

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.

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