Crocs (NASDAQ:CROX) Hits New 12-Month Low at $65.56

Crocs, Inc. (NASDAQ:CROXGet Rating) shares hit a new 52-week low on Tuesday . The company traded as low as $65.56 and last traded at $66.00, with a volume of 12337 shares trading hands. The stock had previously closed at $69.40.

CROX has been the topic of a number of research analyst reports. Piper Sandler lifted their price target on shares of Crocs from $215.00 to $246.00 and gave the company an “overweight” rating in a report on Wednesday, January 12th. Seaport Res Ptn reaffirmed a “neutral” rating on shares of Crocs in a report on Tuesday, January 18th. StockNews.com lowered shares of Crocs from a “buy” rating to a “hold” rating in a research note on Saturday, April 2nd. B. Riley reduced their target price on shares of Crocs from $174.00 to $153.00 and set a “buy” rating for the company in a research note on Wednesday, January 26th. Finally, Robert W. Baird reduced their target price on shares of Crocs from $250.00 to $200.00 in a research note on Thursday, March 3rd. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $148.67.

The stock has a market cap of $3.80 billion, a P/E ratio of 5.86, a price-to-earnings-growth ratio of 0.49 and a beta of 1.85. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 54.78. The business’s fifty day simple moving average is $76.74 and its 200 day simple moving average is $117.77.

Crocs (NASDAQ:CROXGet Rating) last released its quarterly earnings data on Wednesday, February 16th. The textile maker reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.14. The business had revenue of $586.63 million for the quarter, compared to analyst estimates of $580.71 million. Crocs had a net margin of 31.37% and a return on equity of 201.51%. Crocs’s quarterly revenue was up 42.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.06 EPS. On average, analysts predict that Crocs, Inc. will post 10.16 earnings per share for the current fiscal year.

In related news, Director Ronald Frasch purchased 3,250 shares of the company’s stock in a transaction that occurred on Wednesday, March 16th. The stock was acquired at an average price of $77.02 per share, with a total value of $250,315.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Douglas J. Treff purchased 8,100 shares of Crocs stock in a transaction dated Thursday, February 17th. The stock was bought at an average price of $91.44 per share, for a total transaction of $740,664.00. Following the completion of the purchase, the director now owns 87,005 shares in the company, valued at approximately $7,955,737.20. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 37,698 shares of company stock valued at $3,105,842. 2.42% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Lord Abbett & CO. LLC raised its holdings in Crocs by 66.2% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,738,706 shares of the textile maker’s stock valued at $249,469,000 after buying an additional 692,633 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Crocs by 34.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,141,267 shares of the textile maker’s stock valued at $163,749,000 after buying an additional 292,559 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Crocs by 12.7% in the 3rd quarter. Goldman Sachs Group Inc. now owns 1,086,927 shares of the textile maker’s stock valued at $155,952,000 after buying an additional 122,731 shares during the last quarter. Two Sigma Advisers LP raised its holdings in Crocs by 8.2% in the 3rd quarter. Two Sigma Advisers LP now owns 1,059,600 shares of the textile maker’s stock valued at $152,031,000 after buying an additional 80,500 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in Crocs by 96.2% in the 3rd quarter. Wellington Management Group LLP now owns 891,814 shares of the textile maker’s stock valued at $127,958,000 after buying an additional 437,259 shares during the last quarter. Institutional investors and hedge funds own 94.00% of the company’s stock.

About Crocs (NASDAQ:CROX)

Crocs, Inc, together with its subsidiaries, designs, develops, manufactures, markets, and distributes casual lifestyle footwear and accessories for men, women, and children. It offers various footwear products, including clogs, sandals, slides, flip-flops, boots, flats, wedges, platforms, socks, shoe charms, loafers, sneakers, and slippers under the Crocs brand name.

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