Crocs (NASDAQ:CROX) was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued on Tuesday.

Several other equities research analysts have also recently weighed in on CROX. Buckingham Research cut Crocs from a “neutral” rating to an “underperform” rating in a report on Friday, January 5th. Zacks Investment Research cut Crocs from a “hold” rating to a “sell” rating in a report on Friday, January 5th. Piper Jaffray set a $12.00 target price on Crocs and gave the stock a “hold” rating in a report on Monday, January 8th. Finally, Pivotal Research reiterated a “hold” rating and issued a $13.00 target price (up from $10.00) on shares of Crocs in a report on Wednesday, January 10th. Three analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $12.00.

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Shares of Crocs stock opened at $16.05 on Tuesday. Crocs has a 52 week low of $5.93 and a 52 week high of $17.43. The firm has a market capitalization of $1,119.88, a price-to-earnings ratio of -802.50, a price-to-earnings-growth ratio of 3.62 and a beta of 0.29.

Crocs (NASDAQ:CROX) last issued its earnings results on Wednesday, February 28th. The textile maker reported ($0.41) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.37) by ($0.04). Crocs had a return on equity of 6.19% and a net margin of 1.00%. The firm had revenue of $199.11 million during the quarter, compared to analysts’ expectations of $196.70 million. During the same quarter in the prior year, the company posted ($0.58) earnings per share. Crocs’s quarterly revenue was up 6.2% compared to the same quarter last year. equities research analysts expect that Crocs will post 0.3 earnings per share for the current fiscal year.

Crocs announced that its Board of Directors has authorized a share repurchase program on Wednesday, February 28th that authorizes the company to buyback $431.00 million in shares. This buyback authorization authorizes the textile maker to repurchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. UBS Asset Management Americas Inc. lifted its stake in shares of Crocs by 13.9% during the 4th quarter. UBS Asset Management Americas Inc. now owns 48,695 shares of the textile maker’s stock worth $616,000 after purchasing an additional 5,949 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Crocs by 2.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 277,174 shares of the textile maker’s stock worth $2,688,000 after purchasing an additional 6,399 shares during the last quarter. Nationwide Fund Advisors lifted its stake in shares of Crocs by 27.6% during the 3rd quarter. Nationwide Fund Advisors now owns 64,520 shares of the textile maker’s stock worth $626,000 after purchasing an additional 13,972 shares during the last quarter. Cigna Investments Inc. New lifted its stake in shares of Crocs by 87.4% during the 4th quarter. Cigna Investments Inc. New now owns 37,936 shares of the textile maker’s stock worth $479,000 after purchasing an additional 17,694 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Crocs during the 4th quarter worth $258,000. Hedge funds and other institutional investors own 99.81% of the company’s stock.

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About Crocs

Crocs, Inc, together with its subsidiaries, designs, develops, manufactures, markets, and distributes casual lifestyle footwear and accessories for men, women, and children worldwide. It offers various footwear products, including clogs, sandals, flips and slides, shoes, and boots under the Crocs brand name.

Analyst Recommendations for Crocs (NASDAQ:CROX)

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