Skechers USA (NYSE:SKX) Rating Downgrade
Trading of Skechers Usa (NYSE:SKX)’s shares is going to be interesting today. Standpoint Research decreased the stock from a “Buy” to a “Hold”.
Despite this stock rating downgrade NYSE:SKX is currently trading 0.82% higher at $27.64 as of 6:01 AM New York time. Skechers USA shares have [From2] 0% in the past 200 days, while the S&P 500 Index has added 13.63% in the same time.
According to data compiled by Thomson Reuters, Skechers USA (NYSE:SKX)’s stock is covered by 10 equity analysts across the Street, with 0 analysts giving it a Sell rating, 7 a Buy rating, while 3 consider it a Hold. The 12-month consensus target price for the stock is $40.53, which reflects an upside potential of 46.64% over the current price.
Aristotle Fund L.P. had the most significant stake with ownership of 470,000 shares as of q2 2015 for 10.82% of the long stock exposure. Provident Investment Management Inc. is another bullish investment professional who is having 698,094 shares of Skechers USA or 3.32% of their long stock exposure. Furthermore, Penn Davis Mcfarland Inc have 3.17% of their long stock exposure invested in the company for 539,847 shares. The Florida-based fund Harvey Capital Management Inc disclosed it had purchased a stake worth about 2.16% of the investment professional’s stock portfolio in Skechers USA. The Singapore-based fund Seatown Holdings Pte. Ltd. is also positive about the stock, possessing 305,400 shares or 1.56% of their long stock exposure.
Skechers USA (NYSE:SKX) Profile
Skechers U.S.A., Inc. 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 Company operates through three segments: 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.
Skechers USA (NYSE:SKX) traded up 0.82% on 16 March, hitting $27.64. A total of 2.34 million shares of the company’s stock traded hands. This is down from average of 2.58 million shares. Skechers USA has a 52 week low of $18.81 and a 52 week high of $34.19. The company has a market cap of $4.58 billion and a P/E ratio of 17.59.
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