Skechers U.S.A. (SKX) : Analyst Rating Update

Skechers U.S.A. (SKX) : 5 brokerage houses believe that Skechers U.S.A. (SKX) is a Strong Buy at current levels. 1 Analyst considers the fundamentals to be worthy of a Buy recommendation. 3 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Skechers U.S.A. (SKX). Zacks Investment Research suggests a Sell with a rank of 4.The median of all the 9 Wall Street Analysts endorse the stock as a Buy with a rating of 1.72.

Skechers U.S.A. (SKX) : 9 investment research analysts covering Skechers U.S.A. (SKX) have an average price target of $40.22 for the near short term. The highest target price given by the Brokerage Firm to the stock is $54 and the lowest target is $30 for the short term. Analysts expect the variance to be within $7.89 of the average price.

Skechers U.S.A. (NYSE:SKX): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $28.92 and $28.65 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $29.61. The buying momentum continued till the end and the stock did not give up its gains. It closed at $29.52, notching a gain of 1.76% for the day. The total traded volume was 2,598,023 . The stock had closed at $29.01 on the previous day.

Also, Macquarie initiates coverage on Skechers U.S.A. (NYSE:SKX). Macquarie has a Outperform rating on the shares. As per the latest report, the brokerage house announces the price target to $45 per share. The rating by the firm was issued on April 7, 2016. The company shares have dropped -23.81% from its 1 Year high price. On Aug 6, 2015, the shares registered one year high at $54.53 and the one year low was seen on Nov 16, 2015. The 50-Day Moving Average price is $29.78 and the 200 Day Moving Average price is recorded at $30.17.

Skechers U.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 Companys brands are sold through department and specialty stores, athletic and independent retailers, boutiques and internet retailers. In addition to wholesale distribution, its footwear is available at its e-commerce site and its own retail stores. As of February 15, 2015, the Company owned and operated 119 concept stores, 146 factory outlet stores and 98 warehouse outlet stores in the United States, and 51 concept stores, 33 factory outlet stores, and three warehouse outlet stores internationally.

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