Crocs' (CROX) "Hold" Rating Reaffirmed at Stifel Nicolaus

Key Points

• Stifel Nicolaus has reiterated a "hold" rating for Crocs (NASDAQ:CROX) and lowered its price target from $127.00 to $85.00, indicating a potential upside of 14.26% from the last close.
• Crocs' stock has declined 29.2%, with analysts giving it a consensus rating of "Moderate Buy" and an average target price of $112.77.
• Insider transactions show Director Ian Bickley sold 3,044 shares at an average price of $115.89, marking a 9.96% decrease in his holdings.

Stifel Nicolaus restated their hold rating on shares of Crocs (NASDAQ:CROX - Free Report) in a report issued on Friday morning, Marketbeat Ratings reports. They currently have a $85.00 target price on the textile maker's stock, down from their previous target price of $127.00.

Other equities research analysts also recently issued research reports about the stock. Barclays reduced their target price on shares of Crocs from $122.00 to $119.00 and set an "overweight" rating on the stock in a research note on Friday, May 9th. UBS Group restated a "neutral" rating and issued a $110.00 target price (up previously from $105.00) on shares of Crocs in a research note on Monday, July 28th. The Goldman Sachs Group reduced their target price on shares of Crocs from $88.00 to $87.00 and set a "sell" rating on the stock in a research note on Tuesday, July 22nd. Needham & Company LLC reduced their target price on shares of Crocs from $129.00 to $89.00 and set a "buy" rating on the stock in a research note on Thursday. Finally, Monness Crespi & Hardt reduced their target price on shares of Crocs from $140.00 to $92.00 and set a "buy" rating on the stock in a research note on Friday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Crocs presently has an average rating of "Moderate Buy" and an average target price of $110.85.

Crocs Stock Performance

CROX traded up $0.85 during trading on Friday, reaching $75.24. 6,461,768 shares of the company's stock were exchanged, compared to its average volume of 2,024,057. Crocs has a fifty-two week low of $73.76 and a fifty-two week high of $151.13. The company has a quick ratio of 0.97, a current ratio of 1.54 and a debt-to-equity ratio of 0.97. The business has a 50 day moving average price of $101.82 and a 200 day moving average price of $102.22. The company has a market capitalization of $4.22 billion, a P/E ratio of 20.17, a PEG ratio of 1.56 and a beta of 1.41.

Crocs (NASDAQ:CROX - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The textile maker reported $4.23 earnings per share for the quarter, topping analysts' consensus estimates of $4.01 by $0.22. Crocs had a net margin of 5.72% and a return on equity of 44.15%. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the previous year, the company earned $4.01 earnings per share. The business's 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 fiscal year.

Insider Activity

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

Institutional Trading of Crocs

Several institutional investors and hedge funds have recently added to or reduced their stakes in CROX. Wells Fargo & Company MN raised its holdings in Crocs by 35.6% during the 4th quarter. Wells Fargo & Company MN now owns 20,744 shares of the textile maker's stock worth $2,272,000 after purchasing an additional 5,448 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in Crocs by 5.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 198,533 shares of the textile maker's stock worth $21,745,000 after purchasing an additional 10,792 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in Crocs by 57.7% during the 4th quarter. Russell Investments Group Ltd. now owns 27,172 shares of the textile maker's stock worth $2,976,000 after purchasing an additional 9,942 shares during the last quarter. Federated Hermes Inc. raised its holdings in Crocs by 4.7% during the 4th quarter. Federated Hermes Inc. now owns 7,484 shares of the textile maker's stock worth $820,000 after purchasing an additional 336 shares during the last quarter. Finally, Bank of Montreal Can raised its holdings in Crocs by 12.0% during the 4th quarter. Bank of Montreal Can now owns 13,393 shares of the textile maker's stock worth $1,467,000 after purchasing an additional 1,439 shares during the last quarter. 93.44% of the stock is 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.