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Keep an eye on Crocs (SYM: CROX). The stock did just gap from about $140 to $109 on poor guidance, but it’s overdone. While the company did post Q3 EPS of $3.60, which beat expectations by 49 cents, and revenue of $1.06 billion, which beat by $10 million, the company didn’t impress with EPS guidance. For the fourth quarter, CROX now expects to post EPS of $2.20 to $2.28, as compared to expectations of $2.72. Revenue is expected to be flat to up slightly year over year. 
Unfortunately, there are concerns about Crocs’ HEYDUDE brand. In fact, according to CEO Andrew Rees: "HEYDUDE's recent performance and the current operating environment are signaling it will take longer than we had initially planned for the brand to turn a corner. While we are resetting our full-year outlook for HEYDUDE, I remain confident in the long-term trajectory of the brand." But again, the pullback from $140 to $109 appears overdone. Insiders are also taking advantage of the drop, with director John Replogle buying 2,240 shares for just over $250,000. Did you miss yesterday's Chart of the Day? Click here to view it now. |
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