Crocs (NASDAQ:CROX) Price Target Lowered to $85.00 at UBS Group

Key Points

• UBS Group has lowered Crocs' price target from $110.00 to $85.00, maintaining a "neutral" rating on the stock.
• Other analysts have also decreased their price targets, with KeyCorp setting it at $95.00 and Barclays at $81.00.
• Crocs reported a $4.23 EPS for the last quarter, exceeding estimates and showing a 3.4% revenue increase compared to the same quarter last year.

Crocs (NASDAQ:CROX - Get Free Report) had its price target lowered by stock analysts at UBS Group from $110.00 to $85.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a "neutral" rating on the textile maker's stock. UBS Group's target price would indicate a potential upside of 11.02% from the stock's previous close.

Other research analysts also recently issued research reports about the stock. KeyCorp reissued an "overweight" rating and set a $95.00 target price (down previously from $120.00) on shares of Crocs in a research report on Friday. Barclays reiterated an "equal weight" rating and issued a $81.00 target price (down from $119.00) on shares of Crocs in a research note on Friday. Needham & Company LLC reiterated a "buy" rating and issued a $89.00 target price (down from $129.00) on shares of Crocs in a research note on Thursday. Stifel Nicolaus restated a "hold" rating and set a $85.00 price objective (down from $127.00) on shares of Crocs in a research note on Friday. Finally, The Goldman Sachs Group decreased their target price on shares of Crocs from $88.00 to $87.00 and set a "sell" rating for the company in a research note on Tuesday, July 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Crocs presently has an average rating of "Moderate Buy" and a consensus target price of $108.92.

Crocs Price Performance

Shares of NASDAQ:CROX traded up $1.32 during midday trading on Monday, reaching $76.56. 3,075,663 shares of the company were exchanged, compared to its average volume of 1,768,494. The company has a current ratio of 1.54, a quick ratio of 0.97 and a debt-to-equity ratio of 0.97. The business's fifty day moving average is $101.82 and its two-hundred day moving average is $102.20. Crocs has a one year low of $73.76 and a one year high of $151.13. The stock has a market cap of $4.18 billion, a PE ratio of 20.53, a price-to-earnings-growth ratio of 1.56 and a beta of 1.41.

Crocs (NASDAQ:CROX - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The textile maker reported $4.23 EPS for the quarter, beating the consensus estimate of $4.01 by $0.22. Crocs had a net margin of 5.72% and a return on equity of 44.15%. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the business earned $4.01 earnings per share. Crocs's quarterly revenue was up 3.4% compared to the same quarter last year. As a group, analysts predict that Crocs will post 13.2 earnings per share for the current year.

Hedge Funds Weigh In On Crocs

Institutional investors have recently bought and sold shares of the company. Costello Asset Management INC purchased a new stake in shares of Crocs during the 1st quarter worth $32,000. Larson Financial Group LLC boosted its position 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 worth $37,000 after purchasing an additional 298 shares in the last quarter. IMA Advisory Services Inc. purchased a new stake in shares of Crocs during the 1st quarter worth $40,000. Brooklyn Investment Group purchased a new stake in shares of Crocs during the 1st quarter worth $40,000. Finally, Allworth Financial LP boosted its position in shares of Crocs by 120.7% during the 2nd quarter. Allworth Financial LP now owns 448 shares of the textile maker's stock worth $45,000 after purchasing an additional 245 shares in the last quarter. 93.44% of the stock is owned by institutional investors and hedge funds.

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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