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CROX

Crocs

$18.11

0.13 (0.72%)

07:05
08/07/18
08/07
07:05
08/07/18
07:05

Crocs reports Q2 EPS 35c, consensus 31c

Reports Q2 revenue $328M, consensus $321.76M. Inventory declined 16.6% to $129.9 million as of June 30, 2018 compared to $155.7 million as of June 30, 2017, reflecting the company's continued focus on inventory management. In connection with ongoing efforts to simplify the business and improve profitability, during the second quarter, the company closed its manufacturing facility in Mexico and moved ahead with plans to close its last manufacturing facility, which is located in Italy.

  • 07

    Aug

CROX Crocs
$18.11

0.13 (0.72%)

05/09/18
05/09/18
DOWNGRADE
Target $17

Hold
Crocs downgraded to Hold with $17 price target at Stifel
As previously reported, Stifel analyst Jim Duffy downgraded Crocs to Hold from Buy as he believes the stock has "adequately" re-rated to discount FY19 earnings power. However, following the company's "solid" Q1 results and above consensus Q2 guidance, Duffy raised his price target on Crocs shares to $17 from $16.
05/09/18
05/09/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Crocs (CROX) downgraded to Hold from Buy at Stifel with analyst Jim Duffy saying he believes the stock has "adequately" re-rated to discount fiscal 2019 earnings power. 2. Monster Beverage (MNST) downgraded to Neutral from Overweight at JPMorgan with analyst Andrea Teixeira saying she sees a "difficult road ahead" for the company following its first quarter results. 3. Adient (ADNT) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Armintas Sinkevicius saying that recent management commentary appears to have taken the potential for strategic action involving the underperforming metals business off the table. 4. Ironwood (IRWD) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst David Lebowitz saying he believes management's target of Linzess U.S. sales exceeding $1B by 2020 could be a challenge given the recent deceleration in volume growth. 5. Papa John's (PZZA) downgraded to Neutral from Buy at Longbow with analyst Alton Stump saying he is concerned Papa John's may not have a recovery in comps in the near-term and recommends investors wait for a significant pullback and or evidence same-store-sales being to recover in the coming quarters before becoming constructive on shares. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/01/18
PIPR
06/01/18
NO CHANGE
Target $20
PIPR
Overweight
Crocs target raised to $20 after management meetings at Piper Jaffray
After spending time with management, Piper Jaffray analyst Erinn Murphy raised her estimates for Crocs to account for the company's longer-term EBIT opportunity and catalysts for sustained sales growth. Management maintains its stance that LiteRide, the newest franchise, is exceeding expectations. Murphy increased her price target for shares of Crocs to $20 from $18 and keeps an Overweight rating on the name.
07/25/18
PIVT
07/25/18
UPGRADE
Target $21
PIVT
Buy
Crocs upgraded to Buy from Hold at Pivotal Research
Pivotal Research analyst Mitch Kummetz upgraded Crocs to Buy and raised his price target for the shares to $21 from $15. The spring/summer season has "come on strong" in May, June and July-to-date for Crocs, Kummetz tells investors in a research note, citing his surveys of the independent footwear channel. The analyst now believes the company's Q2 reorders were solid, and that Crocs should at least reach the high end of its sales range for the quarter. Further, he thinks Q3 sets up well" for the company, given the "buy-now, wear-now nature of consumers today." Warm-weather product should sell well for back-to-school and into the early fall season, Kummetz contends.

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