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UPDATE: Sterne Agee Downgrades Crocs on Raised Concerns, Lowered Estimates

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Near-Term Headwinds Pose Problem for Crocs

In a report published Thursday, Sterne Agee analyst Sam Poser downgraded Crocs (NASDAQ: CROX) from Neutral to Underperform, and named a $10.00 price target.

In the report, Sterne Agee noted, “Vacate positions in CROX: There is a global senior leadership void. 3 of 5 regions have no director. CROX is selling Crosslite products to Backjoy.com. on terms that may not be at arms' length. Lowering '13/'14 EPS estimates from $1.01/ $1.33 to $0.99/$1.20.”

Crocs closed on Wednesday at $14.01.

Posted-In: Sam Poser Sterne AgeeAnalyst Color Downgrades Analyst Ratings

 

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