Crocs (NASDAQ:CROX) Sets New 52-Week Low - Here's Why

Key Points

• Crocs, Inc. shares hit a new 52-week low of $78.72, marking a significant drop of 25.5% from previous trading levels.
• Despite the decline, most Wall Street analysts maintain a "Moderate Buy" consensus rating on the stock, with a consensus price target of $128.46.
• In recent insider activity, Director Ian Bickley sold over 3,000 shares, reflecting a decrease in ownership of nearly 10%.

Crocs, Inc. (NASDAQ:CROX - Get Free Report) shares reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $84.51 and last traded at $78.72, with a volume of 560988 shares changing hands. The stock had previously closed at $105.13.

Wall Street Analyst Weigh In

CROX has been the topic of a number of recent research reports. Needham & Company LLC lifted their target price on Crocs from $118.00 to $129.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Piper Sandler lowered their price target on Crocs from $125.00 to $115.00 and set an "overweight" rating on the stock in a research report on Friday, April 11th. Barclays lowered their price target on Crocs from $122.00 to $119.00 and set an "overweight" rating on the stock in a research report on Friday, May 9th. Stifel Nicolaus lowered their price target 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, The Goldman Sachs Group lowered their price target on Crocs from $88.00 to $87.00 and set a "sell" rating on the stock in a research report on Tuesday, July 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $128.46.

Crocs Trading Down 25.5%

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 firm has a market capitalization of $4.39 billion, a P/E ratio of 4.80, a PEG ratio of 2.11 and a beta of 1.41. The firm has a 50 day moving average of $102.93 and a 200-day moving average of $102.59.

Crocs (NASDAQ:CROX - Get Free Report) last released its earnings results on Thursday, August 7th. The textile maker reported $4.23 earnings per share for the quarter, topping the consensus estimate of $4.03 by $0.20. Crocs had a return on equity of 43.07% and a net margin of 23.35%. During the same quarter in the previous year, the firm earned $4.01 earnings per share. The firm's quarterly revenue was up 3.4% compared to the same quarter last year. On average, equities research analysts predict that Crocs, Inc. will post 13.2 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Ian Bickley sold 3,044 shares of the company's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $115.89, for a total transaction of $352,769.16. Following the completion of the transaction, the director directly owned 27,505 shares in the company, valued at approximately $3,187,554.45. This represents a 9.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.00% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CROX. Costello Asset Management INC purchased a new stake in Crocs in the 1st quarter valued at about $32,000. Larson Financial Group LLC increased its stake in Crocs by 541.8% in the 1st quarter. Larson Financial Group LLC now owns 353 shares of the textile maker's stock valued at $37,000 after buying an additional 298 shares during the last quarter. IMA Advisory Services Inc. purchased a new stake in Crocs in the 1st quarter valued at about $40,000. Brooklyn Investment Group purchased a new stake in Crocs in the 1st quarter valued at about $40,000. Finally, Ameritas Advisory Services LLC purchased a new stake in Crocs in the 2nd quarter valued at about $48,000. 93.44% of the stock is currently 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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