Crocs, Inc. (CROX) Rating Lowered to Hold at BidaskClub

Crocs, Inc. (NASDAQ:CROX) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Thursday.

CROX has been the topic of a number of other research reports. Susquehanna Bancshares Inc reaffirmed a “neutral” rating and issued a $7.00 price target (up previously from $6.00) on shares of Crocs in a research report on Friday, May 12th. Zacks Investment Research raised Crocs from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research report on Monday, August 14th. B. Riley reaffirmed a “neutral” rating and issued a $8.00 price target on shares of Crocs in a research report on Saturday, May 13th. TheStreet raised Crocs from a “d” rating to a “c-” rating in a research report on Wednesday, June 21st. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $7.00 price target on shares of Crocs in a research report on Friday, July 14th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $8.60.

Shares of Crocs (NASDAQ CROX) opened at 8.68 on Thursday. Crocs has a 52-week low of $5.93 and a 52-week high of $9.70. The stock’s market capitalization is $622.89 million. The stock has a 50 day moving average of $8.13 and a 200-day moving average of $7.12.

Crocs (NASDAQ:CROX) last posted its earnings results on Wednesday, August 9th. The textile maker reported $0.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.12. The firm had revenue of $313.20 million for the quarter, compared to analyst estimates of $311.33 million. Crocs had a negative return on equity of 3.36% and a negative net margin of 0.91%. Crocs’s revenue was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.16 EPS. Analysts predict that Crocs will post ($0.03) EPS for the current fiscal year.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tudor Investment Corp ET AL acquired a new position in Crocs during the second quarter worth approximately $100,000. BlueCrest Capital Management Ltd acquired a new position in Crocs during the second quarter worth approximately $110,000. State of Alaska Department of Revenue increased its position in Crocs by 79.0% in the second quarter. State of Alaska Department of Revenue now owns 14,623 shares of the textile maker’s stock worth $112,000 after buying an additional 6,453 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in Crocs by 12.0% in the second quarter. Public Employees Retirement System of Ohio now owns 14,814 shares of the textile maker’s stock worth $114,000 after buying an additional 1,586 shares during the last quarter. Finally, Capital Fund Management S.A. acquired a new position in Crocs during the first quarter worth approximately $111,000. Institutional investors and hedge funds own 90.27% of the company’s stock.

Crocs Company Profile

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.