Crocs (NASDAQ:CROX) Given New $85.00 Price Target at UBS Group

Crocs (NASDAQ:CROX) had its target price trimmed by UBS Group from $110.00 to $85.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a neutral rating on the textile maker’s stock.

Other research analysts have also recently issued reports about the stock. Barclays reiterated an “equal weight” rating and issued a $81.00 price objective (down from $119.00) on shares of Crocs in a report on Friday. The Goldman Sachs Group decreased their price objective on shares of Crocs from $88.00 to $87.00 and set a “sell” rating for the company in a report on Tuesday, July 22nd. Monness Crespi & Hardt decreased their price objective on shares of Crocs from $140.00 to $92.00 and set a “buy” rating for the company in a report on Friday. Needham & Company LLC decreased their price objective on shares of Crocs from $129.00 to $89.00 and set a “buy” rating for the company in a report on Thursday, August 7th. Finally, Stifel Nicolaus restated a “hold” rating and set a $85.00 target price (down from $127.00) on shares of Crocs in a report on Friday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $108.92.

Crocs Price Performance

NASDAQ CROX opened at $76.56 on Monday. The company has a 50-day moving average price of $101.32 and a two-hundred day moving average price of $102.01. The company has a current ratio of 1.54, a quick ratio of 0.97 and a debt-to-equity ratio of 0.97. The stock has a market cap of $4.18 billion, a price-to-earnings ratio of 20.53, a price-to-earnings-growth ratio of 1.56 and a beta of 1.41. Crocs has a 52 week low of $73.76 and a 52 week high of $151.13.

Crocs (NASDAQ:CROX) last posted its quarterly earnings data on Thursday, August 7th. The textile maker reported $4.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.01 by $0.22. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Crocs had a net margin of 5.72% and a return on equity of 44.15%. The business’s revenue was up 3.4% on a year-over-year basis. During the same period last year, the firm posted $4.01 earnings per share. Analysts forecast that Crocs will post 13.2 EPS for the current year.

Institutional Investors Weigh In On Crocs

Several hedge funds have recently made changes to their positions in CROX. Wells Fargo & Company MN lifted its position in shares of Crocs by 35.6% in the 4th quarter. Wells Fargo & Company MN now owns 20,744 shares of the textile maker’s stock valued at $2,272,000 after acquiring an additional 5,448 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Crocs by 5.7% in the 4th quarter. Envestnet Asset Management Inc. now owns 198,533 shares of the textile maker’s stock valued at $21,745,000 after acquiring an additional 10,792 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Crocs by 57.7% in the 4th quarter. Russell Investments Group Ltd. now owns 27,172 shares of the textile maker’s stock valued at $2,976,000 after acquiring an additional 9,942 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of Crocs by 4.7% in the 4th quarter. Federated Hermes Inc. now owns 7,484 shares of the textile maker’s stock valued at $820,000 after acquiring an additional 336 shares in the last quarter. Finally, Bank of Montreal Can lifted its position in shares of Crocs by 12.0% in the 4th quarter. Bank of Montreal Can now owns 13,393 shares of the textile maker’s stock valued at $1,467,000 after acquiring an additional 1,439 shares in the last quarter. Hedge funds and other 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.