The Goldman Sachs Group Has Lowered Expectations for Crocs (NASDAQ:CROX) Stock Price

Crocs (NASDAQ:CROX - Get Free Report) had its price objective decreased by equities researchers at The Goldman Sachs Group from $88.00 to $87.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a "sell" rating on the textile maker's stock. The Goldman Sachs Group's price target suggests a potential downside of 18.50% from the company's current price.

Several other equities analysts have also issued reports on CROX. Piper Sandler reduced their target price on Crocs from $125.00 to $115.00 and set an "overweight" rating for the company in a report on Friday, April 11th. Needham & Company LLC upped their target price on Crocs from $118.00 to $129.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Stifel Nicolaus reduced their target price on Crocs from $138.00 to $127.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Bank of America reduced their price objective on Crocs from $140.00 to $135.00 and set a "buy" rating for the company in a report on Monday, June 30th. Finally, Loop Capital increased their price objective on Crocs from $110.00 to $125.00 and gave the company a "buy" rating in a report on Tuesday, April 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $135.07.

Crocs Trading Down 1.0%

Shares of NASDAQ:CROX traded down $1.03 during midday trading on Tuesday, reaching $106.75. The company's stock had a trading volume of 1,170,365 shares, compared to its average volume of 1,630,212. The firm has a market capitalization of $5.98 billion, a price-to-earnings ratio of 6.54, a PEG ratio of 2.25 and a beta of 1.38. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.97 and a current ratio of 1.52. The firm has a 50 day moving average price of $104.52 and a two-hundred day moving average price of $102.83. Crocs has a fifty-two week low of $86.11 and a fifty-two week high of $151.13.

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

Insider Activity

In related news, Director Ian Bickley sold 3,044 shares of the stock in a transaction 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 owned 27,505 shares in the company, valued at approximately $3,187,554.45. This trade represents a 9.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Crocs

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Crocs by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 5,477,574 shares of the textile maker's stock valued at $599,959,000 after purchasing an additional 47,576 shares in the last quarter. Walter Public Investments Inc. raised its position in Crocs by 5.6% during the first quarter. Walter Public Investments Inc. now owns 70,475 shares of the textile maker's stock valued at $7,484,000 after purchasing an additional 3,736 shares in the last quarter. Amica Mutual Insurance Co. purchased a new stake in Crocs during the fourth quarter valued at about $333,000. D.A. Davidson & CO. grew its stake in shares of Crocs by 184.3% during the first quarter. D.A. Davidson & CO. now owns 7,083 shares of the textile maker's stock valued at $752,000 after buying an additional 4,592 shares during the last quarter. Finally, Jefferies Financial Group Inc. bought a new position in shares of Crocs during the fourth quarter valued at about $419,000. Hedge funds and other institutional investors 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.