Truist Sells Off Crocs Shares

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Truist Financial Corp has sold a portion of its Crocs ($NASDAQ:CROX), Inc. shares. The move comes as the bank looks to unload some of its non-performing assets. Crocs is a publicly traded company that designs, manufactures, and markets casual footwear for men, women, and children.

Despite Crocs’ strong performance in recent years, the stock has been under pressure lately as investors worry about the company’s ability to continue growing at such a rapid pace. Truist’s decision to sell its Crocs shares suggests that the bank is not confident in the company’s long-term prospects.

Stock Price

On Friday, Crocs Inc. stock opened at $73.40 and closed at $77.70, a 6.0% increase from the prior day’s close of $73.30. Crocs is a footwear manufacturer best known for its bright, colorful clogs. The company has been struggling in recent years, but this move by Truist could signal confidence in Crocs’ future prospects.

VI Analysis

Company’s fundamentals reflect its long term potential, below analysis on CROCS INC are made simple by VI app. Based on VI Risk Rating, CROCS INC is a medium risk investment in terms of financial and business aspects. VI App has detected 1 risk warnings in balance sheet. Register on vi.app to check it out.

VI Peers

Its competitors are Nike Inc, Skechers USA Inc, and Wolverine World Wide Inc.

– Nike Inc ($NYSE:NKE)

Nike is one of the largest sporting goods companies in the world. They design, develop, and manufacture footwear, apparel, and equipment for a variety of sports and fitness activities. Nike’s market cap as of 2022 is 138.47B. Their return on equity is 25.1%. Nike’s products are sold in over 190 countries worldwide.

– Skechers USA Inc ($NYSE:SKX)

Skechers USA Inc has a market cap of 5.44B as of 2022, a Return on Equity of 10.49%. The company is engaged in the design, development, marketing and sale of footwear for men, women and children.

– Wolverine World Wide Inc ($NYSE:WWW)

Wolverine World Wide Inc is a footwear company that designs, manufactures, and markets a range of shoes for men, women, and children. The company has a market cap of 1.3B as of 2022 and a Return on Equity of 18.81%. Wolverine World Wide is a publicly traded company on the New York Stock Exchange (NYSE) under the ticker symbol WWW. The company was founded in 1883 and is headquartered in Rockford, Michigan.

Summary

CROCS INC is a publicly traded company that designs, manufactures, and markets footwear and apparel for men, women, and children. The company’s shares are traded on the Nasdaq Global Select Market under the ticker symbol “CROX.”.