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

Key Points

• Bank of America lowered its price target for Crocs (NASDAQ:CROX) from $99.00 to $98.00, while maintaining a "buy" rating, indicating a potential upside of 19.02% from the current stock price.
• Several analysts have recently adjusted their ratings, with Piper Sandler downgrading Crocs from "overweight" to "neutral," and Citigroup assigning a "negative" rating, contributing to a mixed consensus rating of "Hold" for the stock.
• Crocs reported a 3.4% year-over-year increase in revenue, with an EPS of $4.23 that exceeded analysts' estimates, yet the stock has declined 0.8% in response to the latest forecasts and ratings.

Crocs (NASDAQ:CROX - Get Free Report) had its price target lowered by Bank of America from $99.00 to $98.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the textile maker's stock. Bank of America's price target suggests a potential upside of 19.02% from the company's current price.

Other equities analysts have also recently issued reports about the company. Piper Sandler cut Crocs from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $95.00 to $75.00 in a report on Monday, September 22nd. Citigroup cut Crocs to a "negative" rating in a report on Tuesday, October 7th. Weiss Ratings restated a "hold (c-)" rating on shares of Crocs in a report on Wednesday, October 8th. KeyCorp decreased their price objective on Crocs from $120.00 to $95.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. Finally, Barclays reiterated an "equal weight" rating and issued a $81.00 price objective (down previously from $119.00) on shares of Crocs in a research note on Friday, August 8th. Seven investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $101.92.

Crocs Stock Down 0.8%

NASDAQ CROX opened at $82.34 on Tuesday. The business has a fifty day moving average price of $82.78 and a 200 day moving average price of $94.95. Crocs has a one year low of $73.76 and a one year high of $139.96. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.97 and a current ratio of 1.54. The company has a market cap of $4.50 billion, a P/E ratio of 22.08, a P/E/G ratio of 1.91 and a beta of 1.43.

Crocs (NASDAQ:CROX - Get Free Report) last issued its earnings results on Thursday, August 7th. The textile maker reported $4.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.01 by $0.22. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.15 billion. Crocs had a return on equity of 44.15% and a net margin of 5.72%.The company's revenue for the quarter was up 3.4% on a year-over-year basis. During the same period last year, the company earned $4.01 EPS. Crocs has set its Q3 2025 guidance at EPS. Research analysts anticipate that Crocs will post 13.2 EPS for the current fiscal year.

Insider Activity

In other Crocs news, Director John B. Replogle bought 3,261 shares of the business's stock in a transaction dated Friday, August 8th. The shares were acquired at an average price of $76.69 per share, with a total value of $250,086.09. Following the transaction, the director owned 15,417 shares of the company's stock, valued at approximately $1,182,329.73. The trade was a 26.83% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Susan L. Healy bought 2,000 shares of the business's stock in a transaction dated Tuesday, August 12th. The shares were acquired at an average cost of $76.56 per share, for a total transaction of $153,120.00. Following the transaction, the executive vice president directly owned 50,078 shares in the company, valued at approximately $3,833,971.68. This represents a 4.16% increase in their position. The disclosure for this purchase can be found here. 2.72% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CROX. Boston Partners increased its position in Crocs by 2,659.1% during the second quarter. Boston Partners now owns 1,688,383 shares of the textile maker's stock worth $171,003,000 after buying an additional 1,627,190 shares during the period. New Vernon Capital Holdings II LLC increased its position in Crocs by 10,520.0% during the first quarter. New Vernon Capital Holdings II LLC now owns 719,293 shares of the textile maker's stock worth $76,389,000 after buying an additional 712,520 shares during the period. LSV Asset Management increased its position in Crocs by 180.9% during the first quarter. LSV Asset Management now owns 880,260 shares of the textile maker's stock worth $93,484,000 after buying an additional 566,847 shares during the period. Norges Bank acquired a new position in Crocs during the second quarter worth approximately $56,710,000. Finally, Voss Capital LP acquired a new position in shares of Crocs in the second quarter valued at approximately $40,765,000. Institutional investors and hedge funds 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.

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