Crocs (NASDAQ:CROX) Earns Overweight Rating from KeyCorp

Key Points

• KeyCorp has lowered Crocs' price target from $120 to $95, suggesting a potential upside of 24.03% from the stock's previous close, while maintaining an "overweight" rating.
• Multiple analysts have reduced their price targets for Crocs recently, with Bank of America setting a target of $99 and Goldman Sachs advising a "sell" rating with a target of $87.
• The company reported a quarterly earnings per share of $4.23, surpassing analysts' expectations of $4.01, with revenue increasing 3.4% year-over-year to $1.15 billion.

Crocs (NASDAQ:CROX - Get Free Report)'s stock had its "overweight" rating reiterated by stock analysts at KeyCorp in a note issued to investors on Friday, Marketbeat.com reports. They currently have a $95.00 price target on the textile maker's stock, down from their previous price target of $120.00. KeyCorp's price objective indicates a potential upside of 26.26% from the company's previous close.

CROX has been the subject of several other research reports. UBS Group reaffirmed a "neutral" rating and issued a $110.00 price objective (up previously from $105.00) on shares of Crocs in a research note on Monday, July 28th. Stifel Nicolaus restated a "hold" rating and set a $85.00 price target (down from $127.00) on shares of Crocs in a report on Friday. Bank of America cut their price target on Crocs from $135.00 to $99.00 and set a "buy" rating on the stock in a report on Friday. Needham & Company LLC cut their target price on Crocs from $129.00 to $89.00 and set a "buy" rating on the stock in a report on Thursday. Finally, The Goldman Sachs Group dropped their price objective on Crocs from $88.00 to $87.00 and set a "sell" rating on the stock 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 given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $110.85.

Crocs Stock Up 1.1%

Shares of NASDAQ CROX opened at $75.24 on Friday. 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 company has a market cap of $4.22 billion, a price-to-earnings ratio of 20.17, a PEG ratio of 1.56 and a beta of 1.41. Crocs has a 12 month low of $73.76 and a 12 month high of $151.13. The stock has a 50-day moving average price of $101.82 and a two-hundred day moving average price of $102.22.

Crocs (NASDAQ:CROX - Get Free Report) last issued its earnings results on Thursday, August 7th. The textile maker reported $4.23 EPS for the quarter, topping the consensus estimate of $4.01 by $0.22. Crocs had a return on equity of 44.15% and a net margin of 5.72%. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the previous year, the firm earned $4.01 earnings per share. The business's quarterly revenue was up 3.4% on a year-over-year basis. As a group, analysts forecast 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 firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $115.89, for a total value of $352,769.16. Following the completion of the transaction, the director owned 27,505 shares in the company, valued at $3,187,554.45. This trade represents a 9.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.00% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CROX. Victory Capital Management Inc. boosted its position in shares of Crocs by 29.6% during the 1st quarter. Victory Capital Management Inc. now owns 36,563 shares of the textile maker's stock valued at $3,883,000 after acquiring an additional 8,353 shares during the last quarter. Walter Public Investments Inc. lifted its position in Crocs by 5.6% in the 1st quarter. Walter Public Investments Inc. now owns 70,475 shares of the textile maker's stock worth $7,484,000 after buying an additional 3,736 shares during the last quarter. D.A. Davidson & CO. increased its stake in Crocs by 184.3% in the 1st quarter. D.A. Davidson & CO. now owns 7,083 shares of the textile maker's stock worth $752,000 after purchasing an additional 4,592 shares during the period. Jefferies Financial Group Inc. purchased a new position in Crocs in the 4th quarter worth approximately $419,000. Finally, PFG Investments LLC purchased a new position in Crocs in the 1st quarter worth approximately $1,297,000. 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.