Shares of Skechers (SKX – Get Report) were gaining 14.1% to $146.60 Thursday after the shoe maker beat analysts’ estimates for earnings and revenue in the second quarter. The share price was last updated to $123.66 with a loss of -0.89 points or -0.71%. Till last observation, the net money flow was recorded at a negative $(-5.81) million. Approximately $3.77 million was the inflow in upticks and $2.01 million was the outflow in downticks. The stock has an estimated 5 year annual growth of 19.97% and a PEG multiple of 2.01.
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Separately, National Bank Financial set a C$2.65 price objective on Skechers USA and gave the company an “outperform” rating in a research report on Wednesday, April 1st. The standard deviation reading, which is a measure by which the stock price is expected to swing away from the mean estimate, is at $6.8.
In related news, Director Richard Rappaport sold 1,000 shares of Skechers USA stock in a transaction dated Thursday, June 25th. The net result was for 12 transactions, worth $51.46 million. The shares have seen a change of -0.37% in the past week. Skechers USA has a 1-year low of $47.76 and a 1-year high of $152.00. S&P 500 has rallied 7.62% during the last 52-weeks. In the statement by the brokerage house, Citigroup maintains its outlook on Skechers United States of America, Inc. (NYSE:SKX) should not consider buying and investors now holding the stock should consider selling. The brokerage firm raises the price target from $127 per share to $142 per share. The rating by the firm was issued on July 21, 2015. (NYSE:SKX) which led to swings in the share price. The stock’s 50 day moving average is $117.55 and its 200-day moving average is $87.87.
According to data compiled by Thomson Reuters, Skechers Usa Inc (NYSE:SKX)’s stock is covered by 8 equity analysts across the Street, with 0 analysts giving it a Sell rating, 8 a Buy rating, while 0 consider it a Hold. This is an important indicator as a higher ratio typically suggests that investors are expecting higher future earnings growth compared to companies in the same industry with lower price to earnings ratios.
(Zacks)Skechers USA Inc. (NYSE:SKX) stock is poised to jump after its second-quarter profit handily topped analysts’ expectations.
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Now what: Not only are volumes increasing, Skechers is also raising prices, a potent one-two punch for the company. The Company’s brands are sold through department and specialty stores, athletic and independent retailers, and boutiques, as well as catalog and Internet retailers. In addition to wholesale distribution, the footwear is available at its e-commerce website and own retail stores.
