Skechers Usa Inc (NYSE:SKX) Has Just Had Its Target Price Downgraded by Analysts at TD Securities to $2.50

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Analysis: Skechers Usa Inc (NYSE:SKX) Target Change Today

In an analyst research report sent to clients and investors by TD Securities on Friday, 27 November, the firm, Skechers Usa Inc (NYSE:SKX), had their Estimated Target Price cut to $2.50. Analusts now have a solid “Speculative Buy” rating on the stock.

From a total of 9 analysts covering Skechers Usa Inc. (NYSE:SKX) stock, 8 rate it a ”Buy”, 0 a “Sell”, and 1 a ”Hold”. This means that 89% of the ratings are positive. The highest target price is $185 while the lowest target price is $2.50. The mean of all analyst targets is $86.19 with a 183.99% above today’s ($30.35) stock price. Skechers Usa Inc. was the topic of 16 analyst reports since July 22, 2015 according to the firm StockzIntelligence Inc. B. Riley & Co maintained shares on October 23 with “Buy” rating. Sterne Agee CRT maintained shares with “Buy” rating and $185 target share price in a report from a September 6. Monness Crespi & Hardt maintained SKX stock in a recent report from October 23 with “Buy” rating. Vetr downgraded the rating on August 28. Vetr has a “Buy” rating and a $144.39 price target on shares. Finally, Argus Research initiated the stock with “Buy” rating in a report issued on an October 13.

The stock increased 0.83% or $0.25 on November 27, striking $30.35. Approximately 1.26 million shares of stock traded hands. Skechers USA Inc (NYSE:SKX) has declined 66.58% since April 27, 2015 and is downtrending. It has underperformed by 65.69% the S&P500.

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 has a market cap of $4.70 billion. The Company’s brands are sold through department and specialty stores, athletic and independent retailers, boutiques and internet retailers. It has 20.83 P/E ratio. In addition to wholesale distribution, its footwear is available at its e-commerce site and its own retail stores.

According to Zacks Investment Research, “Skechers U.S.A., Inc. designs and markets branded contemporary casual, active, rugged and lifestyle footwear for men, women and children. The company sells its products to department stores such as Nordstrom, Macy’s, Dillards, Robinson’s-May and JC Penney and specialty retailers such as Genesco’s Journeys and Jarman chains, The Venator Group’s Foot Locker and Lady Foot Locker chains, Pacific Sunwear and Footaction U.S.A.” Get a free copy of the Zacks research report on Skechers USA Inc (SKX)

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