Crocs (NASDAQ:CROX) Hits New 1-Year Low – Here’s Why

Crocs, Inc. (NASDAQ:CROX)’s stock price hit a new 52-week low on Thursday . The company traded as low as $88.25 and last traded at $88.83, with a volume of 3019083 shares trading hands. The stock had previously closed at $88.95.

Analysts Set New Price Targets

A number of brokerages have issued reports on CROX. Loop Capital cut Crocs from a “buy” rating to a “hold” rating and cut their price objective for the company from $150.00 to $110.00 in a report on Thursday, November 7th. Guggenheim dropped their price objective on shares of Crocs from $155.00 to $150.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Robert W. Baird dropped their price target on Crocs from $180.00 to $150.00 and set an “outperform” rating for the company in a report on Monday. Needham & Company LLC assumed coverage on Crocs in a research note on Friday, November 22nd. They issued a “buy” rating and a $116.00 price objective on the stock. Finally, StockNews.com upgraded Crocs from a “hold” rating to a “buy” rating in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Crocs presently has an average rating of “Moderate Buy” and an average price target of $144.47.

Crocs Stock Down 0.1 %

The company has a quick ratio of 0.90, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. The firm has a market cap of $5.18 billion, a P/E ratio of 6.44, a P/E/G ratio of 1.67 and a beta of 1.93. The business has a fifty day moving average of $105.75 and a 200 day moving average of $119.68.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership boosted its position in shares of Crocs by 1,516.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,326,564 shares of the textile maker’s stock worth $145,299,000 after purchasing an additional 1,244,480 shares in the last quarter. Pacer Advisors Inc. raised its stake in Crocs by 39.6% during the 4th quarter. Pacer Advisors Inc. now owns 2,037,121 shares of the textile maker’s stock worth $223,126,000 after buying an additional 577,467 shares during the period. Norges Bank bought a new position in Crocs during the fourth quarter worth about $62,221,000. FMR LLC grew its stake in Crocs by 4.8% in the third quarter. FMR LLC now owns 8,907,591 shares of the textile maker’s stock valued at $1,289,908,000 after acquiring an additional 406,287 shares during the period. Finally, Alliancebernstein L.P. increased its holdings in shares of Crocs by 38.9% in the fourth quarter. Alliancebernstein L.P. now owns 966,769 shares of the textile maker’s stock worth $105,890,000 after acquiring an additional 270,598 shares in the last quarter. 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.