Exclusive: What’s Next for Skechers USA Inc After Today’s Big Increase?

Exclusive: What's Next for Skechers USA Inc After Today's Big Increase?

The stock of Skechers USA Inc (NYSE:SKX) is a huge mover today! About 654,860 shares traded hands. Skechers USA Inc (NYSE:SKX) has declined 28.01% since March 9, 2016 and is downtrending. It has underperformed by 35.42% the S&P500.
The move comes after 9 months positive chart setup for the $3.58 billion company. It was reported on Oct, 12 by Barchart.com. We have $32.64 PT which if reached, will make NYSE:SKX worth $1.47B more.

Skechers USA Inc (NYSE:SKX) Ratings Coverage

Out of 13 analysts covering Skechers Usa Inc. (NYSE:SKX), 10 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 77% are positive. Skechers Usa Inc. has been the topic of 27 analyst reports since July 22, 2015 according to StockzIntelligence Inc. Morgan Stanley downgraded Skechers USA Inc (NYSE:SKX) rating on Wednesday, September 21. Morgan Stanley has “Equal-Weight” rating and $25 price target. The rating was maintained by B. Riley & Co on Friday, October 23 with “Buy”. The company was maintained on Friday, October 23 by Monness Crespi & Hardt. The rating was downgraded by Vetr to “Buy” on Friday, August 28. The stock of Skechers USA Inc (NYSE:SKX) earned “Neutral” rating by Buckingham Research on Friday, October 23. Standpoint Research initiated the shares of SKX in a report on Monday, October 3 with “Buy” rating. The firm has “Buy” rating given on Thursday, July 30 by Monness Crespi & Hardt. Susquehanna upgraded Skechers USA Inc (NYSE:SKX) on Friday, September 30 to “Positive” rating. Susquehanna downgraded the stock to “Neutral” rating in Friday, January 22 report. Susquehanna initiated Skechers USA Inc (NYSE:SKX) rating on Friday, August 12. Susquehanna has “Neutral” rating and $27 price target.

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 Q2 2016. Its down 0.03, from 1.14 in 2016Q1. The ratio dived, 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.
The Manitoba – Canada-based Great West Life Assurance Can has invested 0% in Skechers USA Inc (NYSE:SKX). Mutual Of America Management Llc reported 97,549 shares or 0.06% of all its holdings. Wafra Inv Advisory Gp Ny owns 143,612 shares or 0.52% of their US portfolio. Fifth Third Comml Bank last reported 106 shares in the company. Prudential Fincl holds 862,012 shares or 0.04% of its portfolio. Pinnacle Limited last reported 35,700 shares in the company. Aqr Capital Mgmt Limited Liability Co accumulated 0.13% or 2.47 million shares. The Delaware-based Blackrock Ltd Limited Liability Company has invested 0.01% in Skechers USA Inc (NYSE:SKX). Moreover, Profund Advisors Ltd Liability Corporation has 0.02% invested in Skechers USA Inc (NYSE:SKX) for 15,772 shares. Paloma Partners Mngmt, a Connecticut-based fund reported 37,359 shares. Louisiana State Employees Retirement Sys, a Louisiana-based fund reported 35,300 shares. Wells Fargo And Company Mn owns 383,629 shares or 0% of their US portfolio. Fuller Thaler Asset Management Incorporated, a California-based fund reported 305,310 shares. Federated Pa last reported 0.02% of its portfolio in the stock. First American Fincl Bank, a Illinois-based fund reported 27,028 shares.

Insider Transactions: Since April 26, 2016, the stock had 0 buys, and 11 selling transactions for $19.49 million net activity. $33,509 worth of shares were sold by PACCIONE PHILLIP on Thursday, July 28. $301,519 worth of Skechers USA Inc (NYSE:SKX) was sold by GREENBERG JEFFREY. 1,500 Skechers USA Inc (NYSE:SKX) shares with value of $50,094 were sold by Walsh Thomas. Another trade for 200,000 shares valued at $6.77M was made by GREENBERG MICHAEL on Thursday, April 28. The insider NASON MARK A sold 9,055 shares worth $271,650. GREENBERG ROBERT had sold 300,000 shares worth $9.43M. $1.70 million worth of Skechers USA Inc (NYSE:SKX) was sold by WEINBERG DAVID on Tuesday, April 26.

More important recent Skechers USA Inc (NYSE:SKX) news were published by: Fool.com which released: “Why Now Is the Right Time to Buy Skechers USA Inc” on September 24, 2016, also Benzinga.com published article titled: “Jim Cramer On CVS Health Corp And Skechers USA Inc”, Seekingalpha.com published: “Skechers Is Doomed” on October 09, 2016. More interesting news about Skechers USA Inc (NYSE:SKX) was released by: Investorplace.com and their article: “Why Netflix, Inc. (NFLX), American Airlines Group Inc (AAL) and Skechers USA …” 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.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Tags: , ,

Leave a Comment