Skechers USA Inc (SKX) is Downgraded by Monness Crespi & Hardt to Neutral

Skechers USA Inc (SKX) was Downgraded by Monness Crespi & Hardt to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. Monness Crespi & Hardt advised their investors in a research report released on Jul 22, 2016.

On the company’s financial health, Skechers USA Inc reported $0.63 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Apr 21, 2016. Analyst had a consensus of $0.54. The company had revenue of $978.79 million for the quarter, compared to analysts expectations of $914.86 million. The company’s revenue was up 27.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.10 EPS.

Skechers USA Inc opened for trading at $32.15 and hit $32.62 on the upside on Wednesday, eventually ending the session at $32.28, with a gain of 1.06% or 0.34 points. The heightened volatility saw the trading volume jump to 19,27,138 shares. Company has a market cap of $5,092 M.

In a different news, on Jul 5, 2016, Jeffrey Greenberg (director) sold 10,000 shares at $30.15 per share price. According to the SEC, on May 31, 2016, Mark A Nason (Executive Vice President) sold 9,055 shares at $30.00 per share price. On May 31, 2016, Phillip Paccione (General Counsel & Secretary) sold 3,500 shares at $30.23 per share price, according to the Form-4 filing with the securities and exchange commission.

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 Company’s 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.

Skechers USA Inc

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