The stock of Skechers USA Inc (NYSE:SKX) is a huge mover today! The stock increased 4.47% or $0.98 during the last trading session, hitting $22.9. About 3.76M shares traded hands or 35.74% up from the average. Skechers USA Inc (NYSE:SKX) has declined 33.46% since February 26, 2016 and is downtrending. It has underperformed by 43.89% the S&P500.
The move comes after 8 months positive chart setup for the $3.52 billion company. It was reported on Oct, 1 by Barchart.com. We have $30.69 PT which if reached, will make NYSE:SKX worth $1.20B more.
Skechers USA Inc (NYSE:SKX) Ratings Coverage
Out of 12 analysts covering Skechers Usa Inc. (NYSE:SKX), 9 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 75% are positive. Skechers Usa Inc. has been the topic of 26 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The rating was maintained by Sterne Agee CRT on Sunday, September 6 with “Buy”. On Friday, August 28 the stock rating was downgraded by Vetr to “Buy”. The rating was initiated by BB&T Capital on Friday, October 16 with “Buy”. Susquehanna initiated Skechers USA Inc (NYSE:SKX) on Friday, August 12 with “Neutral” rating. The rating was downgraded by Morgan Stanley on Wednesday, September 21 to “Equal-Weight”. The rating was maintained by Monness Crespi & Hardt with “Buy” on Thursday, July 30. The rating was maintained by Citigroup with “Buy” on Tuesday, August 23. Monness Crespi & Hardt maintained Skechers USA Inc (NYSE:SKX) rating on Friday, October 23. Monness Crespi & Hardt has “Buy” rating and $41.0 price target. On Friday, October 23 the stock rating was maintained by B. Riley & Co with “Buy”. The company was initiated on Thursday, April 7 by Macquarie Research.
According to Zacks Investment Research, “Skechers U.S.A., Inc. designs and markets branded contemporary casual, active, rugged and lifestyle footwear for men, women and children. The company sells its products to department stores such as Nordstrom, Macy’s, Dillards, Robinson’s-May and JC Penney and specialty retailers such as Genesco’s Journeys and Jarman chains, The Venator Group’s Foot Locker and Lady Foot Locker chains, Pacific Sunwear and Footaction U.S.A.”
Insitutional Activity: The institutional sentiment decreased to 1.11 in 2016 Q2. Its down 0.03, from 1.14 in 2016Q1. The ratio fall, as 62 funds sold all Skechers USA Inc shares owned while 93 reduced positions. 60 funds bought stakes while 112 increased positions. They now own 102.59 million shares or 3.66% less from 106.49 million shares in 2016Q1.
Wasatch Advsr Inc accumulated 0.2% or 431,139 shares. Weiss Multi holds 0.31% or 136,252 shares in its portfolio. Invesco last reported 0.03% of its portfolio in the stock. Beaconlight Cap Ltd Liability Corp accumulated 1.69% or 122,028 shares. Buckingham Capital Mngmt Inc has 808,627 shares for 2.92% of their US portfolio. Moreover, Cipher Limited Partnership has 0.06% invested in Skechers USA Inc (NYSE:SKX) for 28,114 shares. Qs Limited last reported 260,886 shares in the company. Texas Permanent School Fund has 101,622 shares for 0.04% of their US portfolio. Monetary Mngmt Grp Inc has invested 0.02% of its portfolio in Skechers USA Inc (NYSE:SKX). Moreover, Bnp Paribas Arbitrage Sa has 0.02% invested in Skechers USA Inc (NYSE:SKX) for 135,318 shares. Clarivest Asset Ltd Liability Corporation holds 0% of its portfolio in Skechers USA Inc (NYSE:SKX) for 264 shares. Pioneer Invest Management Incorporated reported 275,555 shares or 0.03% of all its holdings. Barclays Public Lc, a United Kingdom-based fund reported 219,032 shares. Cubist Systematic Strategies Limited Com holds 0.04% of its portfolio in Skechers USA Inc (NYSE:SKX) for 25,898 shares. Moreover, Legal General Public Ltd has 0% invested in Skechers USA Inc (NYSE:SKX) for 15,102 shares.
Insider Transactions: Since April 26, 2016, the stock had 0 buys, and 11 selling transactions for $19.49 million net activity. PACCIONE PHILLIP sold $105,815 worth of stock or 3,500 shares. 9,055 shares with value of $271,650 were sold by NASON MARK A on Thursday, May 26. Another trade for 50,000 shares valued at $1.70 million was made by WEINBERG DAVID on Tuesday, April 26. GREENBERG JEFFREY had sold 10,000 shares worth $313,581. 1,500 shares with value of $50,094 were sold by Walsh Thomas on Monday, May 2. $6.77M worth of shares were sold by GREENBERG MICHAEL on Thursday, April 28. GREENBERG ROBERT had sold 300,000 shares worth $9.43 million.
More notable recent Skechers USA Inc (NYSE:SKX) news were published by: Fool.com which released: “3 Smart Ways Skechers USA Inc Is Investing in the Future” on September 25, 2016, also Benzinga.com with their article: “Jim Cramer On CVS Health Corp And Skechers USA Inc” published on September 25, 2016, Investorplace.com published: “Why Netflix, Inc. (NFLX), American Airlines Group Inc (AAL) and Skechers USA …” on September 21, 2016. More interesting news about Skechers USA Inc (NYSE:SKX) were released by: Investorplace.com and their article: “Skechers USA Inc (SKX) Slammed on Morgan Stanley Downgrade” published on September 21, 2016 as well as Forbes.com‘s news article titled: “Skechers USA is Now Oversold (SKX)” with publication date: September 21, 2016.
SKX Company Profile
Skechers U.S.A., Inc., incorporated on May 28, 1998, is a designer and marketer of Skechers-branded lifestyle footwear for men, women and children, and performance footwear for men and women under the Skechers GO brand name. The Firm operates through three divisions: domestic wholesale sales, international wholesale sales, and retail sales, which includes e-commerce sales. The Company’s brands are sold through department and specialty stores, athletic and independent retailers, boutiques and Internet retailers. In addition to wholesale distribution, the Company’s footwear is available at its e-commerce site and its own retail stores. The Firm operates approximately 120 concept stores, over 160 factory outlet stores and over 120 warehouse outlet stores in the United States, and approximately 80 concept stores, over 40 factory outlet stores, and over five warehouse outlet stores internationally.
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