Skechers USA Inc (SKX) is Upgraded by Buckingham Research to Buy

Skechers USA Inc (SKX) was Upgraded by Buckingham Research to ” Buy”. Earlier the firm had a rating of “Neutral ” on the company shares. Buckingham Research advised their investors in a research report released on Dec 1, 2016.

Many Wall Street Analysts have commented on Skechers USA Inc. Wedbush Initiated Skechers USA Inc on Nov 2, 2016 to “Neutral”, Price Target of the shares are set at $23.Skechers USA Inc was Downgraded by Citigroup to ” Neutral” on Oct 21, 2016. Skechers USA Inc was Upgraded by Susquehanna to ” Positive” on Sep 30, 2016.

On the company’s financial health, Skechers USA Inc reported $0.42 EPS for the quarter, missing the analyst consensus estimate by $ -0.04 based on the information available during the earnings call on Oct 20, 2016. Analyst had a consensus of $0.46. The company had revenue of $942.42 million for the quarter, compared to analysts expectations of $954.40 million. The company’s revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 EPS.

Skechers USA Inc closed down -0.8 points or -3.59% at $21.48 with 35,93,239 shares getting traded on Tuesday. Post opening the session at $22.21, the shares hit an intraday low of $21.33 and an intraday high of $22.25 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, on Nov 30, 2016, Family Trust Greenberg (CEO) purchased 500,000 shares at $21.96 per share price. According to the SEC, on Nov 28, 2016, Thomas Walsh (director) sold 1,500 shares at $22.64 per share price. On Nov 2, 2016, Michael Greenberg (President) sold 150,000 shares at $20.58 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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