Williams Trading Upgrades Crocs (CROX) to Hold
Williams Trading analyst Sam Poser upgraded Crocs (NASDAQ: CROX) from Sell to Hold with a price target of $84.00.
The analyst comments "Upgrading CROX from Sell to Hold. CROX stock price has dropped below our price target. History is poised to repeat itself, as the FY26 guidance is far too back half weighted. We wonder how many Crocs and Dudes play hockey. The underlying demand for Crocs and HEYDUDE continues to erode in the U.S., and it appears as if CROX is beginning, once again, to step on store expansion to drive its global DTC business, and offset weak wholesale demand. Our checks in the U.S. indicate that both large and small multi-branded retailers are planning the Crocs' FY26 business down HSD to mid-teens, and plan the HEYDUDE business down mid-teens. There has been no indication that those plans will improve for 2H26. We recognize that CROX will likely step up it share repurchase activity, but such activity does nothing to drive profitable top-line momentum. FY26 revenue and margin results will likely, and once again, fall short of guidance. FY26 EPS results may be within the guidance range due to share buybacks."
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Shares of Crocs closed at $82.91 yesterday.