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Crocs, Inc. (NASDAQ:CROX) shares are trading slightly lower on Friday.
On Thursday, the company reported third-quarter adjusted earnings per share of $2.92, beating the analyst consensus estimate of $2.36.
Crocs guided fourth-quarter adjusted EPS to a range of $1.82 to $1.92, and expects sales of about $910.6 million, below the $922.7 million Street view.
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Bank of America Securities analyst Christopher Nardone reiterated the Buy rating on Crocs, raising the price forecast from $98 to $112.
According to the analyst, the firm’s steady improvement at HeyDude should support multiple expansions.
Nardone also believes the company’s cash flow strength remains undervalued.
Third-quarter trends appear to be bottoming, boosting confidence in the setup, he adds.
Additional cost savings also support expectations for further margin gains into 2026.
According to the analyst, management’s pledge for Crocs’ North America DTC to improve sequentially in the fourth quarter is encouraging.
This aligns with his prior view and could signal recovery ahead.
He thinks progress there may foreshadow stabilization in a softer wholesale outlook.
Nardone raised his 2025 EPS forecast 8% to $12.16, citing the beat and better fourth-quarter margins.
The analyst models a slight upside to the fourth quarter gross margin, versus minus 300 basis points, aided by promotions and mix. Those factors should partly offset tariff pressure.
Apart from that, Nardone said preliminary guidance points to operating margin growth in fiscal 2026, regardless of revenue. This exceeded his earlier expectations.
He expects fourth-quarter gross margins to face “peak” tariff pressure.
Price Action: CROX shares are trading lower by 2.59% to $80.40 at last check Friday.
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Posted In: CROX
