Crocs, Inc. (NASDAQ:CROX) Receives Consensus Rating of “Hold” from Analysts

Crocs, Inc. (NASDAQ:CROX) has been given a consensus rating of “Hold” by the nine brokerages that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $8.25.

CROX has been the subject of several research reports. Zacks Investment Research cut shares of Crocs from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 9th. Susquehanna Bancshares Inc reiterated a “neutral” rating and issued a $7.00 target price (up from $6.00) on shares of Crocs in a research note on Friday, May 12th. TheStreet upgraded shares of Crocs from a “d” rating to a “c-” rating in a research note on Wednesday, June 21st. Stifel Nicolaus reiterated a “hold” rating and issued a $8.00 target price (up from $7.00) on shares of Crocs in a research note on Saturday, July 22nd. Finally, Piper Jaffray Companies reiterated a “hold” rating and issued a $7.00 target price on shares of Crocs in a research note on Friday, July 14th.

Crocs (CROX) opened at 8.90 on Friday. The company has a 50-day moving average of $7.77 and a 200-day moving average of $7.00. Crocs has a 52 week low of $5.93 and a 52 week high of $9.16. The stock’s market capitalization is $659.35 million.

Crocs (NASDAQ:CROX) last posted its quarterly earnings results on Wednesday, August 9th. The textile maker reported $0.27 EPS for the quarter, topping the consensus estimate of $0.15 by $0.12. The business had revenue of $313.20 million during the quarter, compared to analysts’ expectations of $311.33 million. Crocs had a negative net margin of 0.91% and a negative return on equity of 3.36%. The firm’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same period last year, the company posted $0.16 earnings per share. Analysts anticipate that Crocs will post ($0.03) earnings per share for the current year.

Institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. bought a new position in shares of Crocs during the fourth quarter worth about $786,000. Comerica Bank raised its position in shares of Crocs by 5.7% in the fourth quarter. Comerica Bank now owns 78,298 shares of the textile maker’s stock worth $554,000 after buying an additional 4,255 shares during the period. State Street Corp raised its position in shares of Crocs by 7.3% in the fourth quarter. State Street Corp now owns 1,622,735 shares of the textile maker’s stock worth $11,131,000 after buying an additional 109,721 shares during the period. Renaissance Technologies LLC raised its position in shares of Crocs by 141.5% in the fourth quarter. Renaissance Technologies LLC now owns 1,390,000 shares of the textile maker’s stock worth $9,535,000 after buying an additional 814,400 shares during the period. Finally, Guggenheim Capital LLC bought a new position in shares of Crocs during the fourth quarter worth about $914,000. 90.18% of the stock is currently owned by institutional investors and hedge funds.

About Crocs

Crocs, Inc is engaged in the design, development, manufacturing, marketing, distribution and sale of casual lifestyle footwear and accessories for men, women, and children. The Company’s segments include Americas, Asia Pacific and Europe. Its products include footwear and accessories that utilize its closed-cell resin, called Croslite, as well as casual lifestyle footwear that use a range of materials.