Needham & Company LLC Issues Pessimistic Forecast for Crocs (NASDAQ:CROX) Stock Price

Crocs (NASDAQ:CROX - Get Free Report) had its price objective cut by equities researchers at Needham & Company LLC from $129.00 to $118.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the textile maker's stock. Needham & Company LLC's target price would suggest a potential upside of 19.85% from the stock's current price.

A number of other research firms have also recently commented on CROX. Stifel Nicolaus decreased their target price on shares of Crocs from $138.00 to $127.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Barclays decreased their price objective on shares of Crocs from $125.00 to $122.00 and set an "overweight" rating on the stock in a research report on Friday, February 14th. Guggenheim cut their price target on Crocs from $155.00 to $150.00 and set a "buy" rating for the company in a research note on Monday, February 3rd. KeyCorp decreased their price target on Crocs from $150.00 to $120.00 and set an "overweight" rating on the stock in a report on Thursday, January 23rd. Finally, Piper Sandler dropped their price objective on Crocs from $125.00 to $115.00 and set an "overweight" rating for the company in a research note on Friday, April 11th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $139.21.

Crocs Stock Performance

NASDAQ:CROX traded down $2.34 during mid-day trading on Thursday, reaching $98.46. The company's stock had a trading volume of 723,698 shares, compared to its average volume of 1,478,350. The stock has a market cap of $5.52 billion, a P/E ratio of 6.16, a PEG ratio of 1.80 and a beta of 1.46. The firm's fifty day moving average price is $99.47 and its two-hundred day moving average price is $104.60. Crocs has a 12-month low of $86.11 and a 12-month high of $165.32. The company has a current ratio of 1.18, a quick ratio of 0.70 and a debt-to-equity ratio of 0.74.

Crocs (NASDAQ:CROX - Get Free Report) last announced its earnings results on Thursday, February 13th. The textile maker reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.25. Crocs had a net margin of 23.16% and a return on equity of 46.27%. On average, equities analysts forecast that Crocs will post 13.2 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Adam Michaels sold 15,000 shares of the business's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $106.69, for a total value of $1,600,350.00. Following the sale, the executive vice president now directly owns 89,323 shares in the company, valued at $9,529,870.87. The trade was a 14.38 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Shannon Sisler sold 4,659 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $109.75, for a total transaction of $511,325.25. Following the completion of the transaction, the executive vice president now directly owns 29,299 shares of the company's stock, valued at approximately $3,215,565.25. The trade was a 13.72 % decrease in their position. The disclosure for this sale can be found here. 2.72% of the stock is currently owned by company insiders.

Institutional Trading of Crocs

A number of institutional investors have recently bought and sold shares of the stock. Universal Beteiligungs und Servicegesellschaft mbH raised its stake in shares of Crocs by 60.7% in the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 49,662 shares of the textile maker's stock valued at $5,274,000 after acquiring an additional 18,759 shares during the period. Gallacher Capital Management LLC raised its holdings in shares of Crocs by 24.9% in the first quarter. Gallacher Capital Management LLC now owns 5,203 shares of the textile maker's stock worth $553,000 after buying an additional 1,037 shares during the period. Jackson Creek Investment Advisors LLC bought a new position in Crocs in the 1st quarter valued at $426,000. Victory Capital Management Inc. increased its stake in Crocs by 29.6% in the 1st quarter. Victory Capital Management Inc. now owns 36,563 shares of the textile maker's stock worth $3,883,000 after buying an additional 8,353 shares during the period. Finally, Larson Financial Group LLC grew its stake in Crocs by 541.8% in the first 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. 93.44% of the stock is currently owned by institutional investors.

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.