Crocs (NASDAQ: CROX) has been banished to the penalty box. Crocs is far from perfect. It went shopping and came home with a big $2.5 billion purchase of casual footwear brand Hey Dude late in 2021, just in time for a global economic slowdown and cries of possible recession on the way.
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There's no question that Crocs (NASDAQ: CROX) is firing on all cylinders right now. While the business has not shown any signs of slowing down, especially in the uncertain economic environment we're in today, the stock has slumped 67% from mid-November. As of May 13, Crocs' shares are selling for a ridiculously cheap price-to-earnings ratio of just over five.