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Downgrade Alert for CROCS (CROX)

By James Quinn

CROCS (NASDAQ:CROX) was downgraded from Buy to Hold at Stifel today. The stock closed yesterday at $8.78 on volume of 2.4 million shares, above average daily volume of 676,000.

In the past 52 weeks, CROCS share prices have been bracketed by a low of $8.09 and a high of $16.05 and closed yesterday at $8.78, 9% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has slid 0.7%.

Crocs, Inc. designs and manufactures shoes. The Company produces soft, lightweight, non-marking, slip- and odor-resistant shoes made of closed-cell resin material. Crocs manufactures men's, women's, and children's shoes and markets them to retail chains.

CROCS (NASDAQ:CROX) has potential upside of 47.4% based on a current price of $8.78 and analysts' consensus price target of $12.94. The stock should find initial resistance at its 50-day moving average (MA) of $9.48 and further resistance at its 200-day MA of $11.23.

SmarTrend is tracking the current trend status for CROCS and will alert subscribers who have CROX in their portfolio or watchlist when shares have changed trend direction.

Keywords: analyst upgrades/downgrades crocs

Ticker(s): CROX