Williams Trading downgrades Crocs to Sell on eroding U.S.demand

Williams Trading analyst Sam Poser downgraded Crocs (CROX) to Sell from Hold with a price target of $84, up from $75. The firm says demand for Crocs and HeyDude “continues to erode” in the U.S. The company is again beginning to rely on store expansion to drive its direct-to-consumer business and offset weak wholesale demand, the analyst tells investors in a research note. Williams says its checks in the U.S. indicate that both large and small multi-branded retailers are planning the Crocs’ fiscal 2026 business down up to mid-teens and the HeyDude business down mid-teens. There has been no indication that those plans will improve for the back half of the year, the firm adds.