Crocs downgraded to Hold from Buy at Williams Trading

Williams Trading downgraded Crocs (CROX) to Hold from Buy with a price target of $80, down from $135, post the Q2 report. The company’s outlook came in well below consensus estimates due to a weakening low-end to moderate consumer, the analyst tells investors in a research note. The firm sees a “poor” wholesale order books for both Crocs brands and notes its channel checks indicate that traffic within the family channel remains weak.