Crocs (NASDAQ:CROX) Shares Gap Down – Here’s Why

Crocs, Inc. (NASDAQ:CROX) gapped down prior to trading on Thursday . The stock had previously closed at $111.54, but opened at $98.05. Crocs shares last traded at $92.55, with a volume of 811,158 shares traded.

Analyst Ratings Changes

Several research firms recently issued reports on CROX. Barclays dropped their target price on shares of Crocs from $125.00 to $122.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Guggenheim cut their target price on Crocs from $155.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $129.00 target price on shares of Crocs in a report on Thursday, February 13th. UBS Group boosted their price target on Crocs from $122.00 to $132.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Finally, Robert W. Baird reduced their price objective on shares of Crocs from $180.00 to $150.00 and set an “outperform” rating for the company in a research report on Monday, February 10th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Crocs has a consensus rating of “Moderate Buy” and an average price target of $144.53.

Crocs Price Performance

The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.70 and a current ratio of 1.18. The business has a 50 day simple moving average of $103.20 and a 200-day simple moving average of $112.52. The firm has a market cap of $5.29 billion, a price-to-earnings ratio of 5.90, a P/E/G ratio of 1.80 and a beta of 1.84.

Crocs (NASDAQ:CROX) 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 return on equity of 46.27% and a net margin of 23.16%. Equities research analysts expect that Crocs, Inc. will post 13.2 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Shannon Sisler sold 4,659 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $109.75, for a total value of $511,325.25. Following the transaction, the executive vice president now owns 29,299 shares in the company, valued at $3,215,565.25. The trade was a 13.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Adam Michaels sold 15,000 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $9,529,870.87. The trade was a 14.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.72% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Crocs

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Crocs by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 5,477,574 shares of the textile maker’s stock valued at $599,959,000 after acquiring an additional 47,576 shares during the last quarter. Empowered Funds LLC lifted its stake in Crocs by 42.0% in the fourth quarter. Empowered Funds LLC now owns 77,152 shares of the textile maker’s stock valued at $8,450,000 after purchasing an additional 22,809 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in Crocs by 129.8% during the fourth quarter. State of Alaska Department of Revenue now owns 21,678 shares of the textile maker’s stock valued at $2,373,000 after purchasing an additional 12,245 shares during the period. Motley Fool Wealth Management LLC purchased a new stake in Crocs in the third quarter worth $9,097,000. Finally, Impax Asset Management Group plc bought a new stake in shares of Crocs in the fourth quarter valued at $684,000. Institutional investors own 93.44% of the company’s stock.

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.