Crocs (CROX) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Crocs (NASDAQ:CROX) from a hold rating to a sell rating in a research note published on Friday, January 5th.

According to Zacks, “Crocs, Inc. is a world leader in innovative casual footwear for men, women and children. Crocs offers a broad portfolio of all-season products, while remaining true to its core molded footwear heritage. All Crocs™ shoes feature Croslite™ material, a proprietary, revolutionary technology that gives each pair of shoes the soft, comfortable, lightweight, non-marking and odor-resistant qualities that Crocs fans have known and love. Crocs celebrates the fun of being a little different and encourages fans to Find Your Fun in every colorful pair of shoes. Crocs has sold more than 300 million pairs of shoes in more than 90 countries around the world. “

A number of other equities analysts also recently commented on the stock. Stifel Nicolaus raised shares of Crocs from a hold rating to a buy rating in a research note on Friday, December 15th. ValuEngine raised shares of Crocs from a sell rating to a hold rating in a research note on Wednesday, October 25th. CL King downgraded shares of Crocs from a buy rating to a neutral rating in a research note on Monday, November 20th. Pivotal Research initiated coverage on shares of Crocs in a research note on Thursday, October 5th. They set a hold rating and a $9.50 price target on the stock. Finally, BidaskClub raised shares of Crocs from a buy rating to a strong-buy rating in a research note on Wednesday, December 27th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $10.67.

Shares of Crocs (NASDAQ:CROX) traded up $0.02 during midday trading on Friday, reaching $13.82. 583,033 shares of the company were exchanged, compared to its average volume of 1,310,000. Crocs has a 1 year low of $5.93 and a 1 year high of $14.47. The firm has a market capitalization of $964.20, a price-to-earnings ratio of -44.58, a P/E/G ratio of 2.94 and a beta of 0.43.

Crocs (NASDAQ:CROX) last announced its quarterly earnings results on Tuesday, November 7th. The textile maker reported $0.02 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.06. The company had revenue of $243.27 million for the quarter, compared to analyst estimates of $236.90 million. Crocs had a negative net margin of 0.60% and a negative return on equity of 0.42%. analysts predict that Crocs will post -0.05 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of CROX. Schwab Charles Investment Management Inc. boosted its stake in Crocs by 20.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 700,614 shares of the textile maker’s stock valued at $5,402,000 after purchasing an additional 116,883 shares during the period. Arizona State Retirement System lifted its stake in shares of Crocs by 0.5% in the 2nd quarter. Arizona State Retirement System now owns 38,588 shares of the textile maker’s stock worth $298,000 after acquiring an additional 200 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Crocs by 1.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 944,679 shares of the textile maker’s stock worth $7,284,000 after acquiring an additional 9,493 shares during the period. Legal & General Group Plc lifted its stake in shares of Crocs by 9.6% in the 2nd quarter. Legal & General Group Plc now owns 137,790 shares of the textile maker’s stock worth $1,062,000 after acquiring an additional 12,099 shares during the period. Finally, BNP Paribas Arbitrage SA lifted its stake in shares of Crocs by 59.8% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 32,826 shares of the textile maker’s stock worth $253,000 after acquiring an additional 12,283 shares during the period. 91.94% of the stock is owned by institutional investors and hedge funds.

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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.

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