Market Overview

Skechers USA Inc Shares Volatile Following Buckingham Comments

Related SKX
31 Stocks Moving In Monday's Pre-Market Session
Delta, Skechers, Quest Diagnostics, XLF: 'Fast Money' Picks For November 21

Shares of Skechers USA Inc (NYSE: SKX) are down sharply in Wednesday’s session following Buckingham comments on sales data from SportScan.

According to Buckingham's Scott Krasik via SportScan, sales at Skechers were indicated down three percent for the week ended September 20 while overall shoe sales were up two percent on a year-over-year basis. Within the casual athletic shoe category, sales fell five percent.

Subsequent to the comments, shares of Skechers fell to a low of $51 and have rebounded to $52.75, down 9.2 percent.

Amid the comments, Sterne Agee's Sam Poser defended Skechers USA by pointing out the company's average selling price was up 16 percent over the last week, something which could suggest retailers sold out of inventory. Poser called the back-to-school season strong.

Sterne Agee has a Buy rating and $70 price target on Skechers USA Inc.

Latest Ratings for SKX

Oct 2018CitigroupMaintainsNeutralNeutral
Oct 2018BuckinghamMaintainsBuyBuy
Oct 2018BuckinghamMaintainsBuyBuy

View More Analyst Ratings for SKX
View the Latest Analyst Ratings

Posted-In: Buckingham Sterne AgeeAnalyst Color News Price Target Intraday Update Analyst Ratings


Related Articles (SKX)

View Comments and Join the Discussion!

Latest Ratings

View the Latest Analytics Ratings
Don't Miss Out!
Join Our Newsletter
Subscribe to:
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
Your weekly roundup of hot topics in the exciting world of fintech.
Thank You
for registering for Benzinga’s newsletters and alerts.
• The Daily Analysts Ratings email will be received daily between 7am and 10am.
• The Market in 5 Minutes email will be received daily between 7am and 8am.
• The Fintech Focus email will be received every Friday between 2pm and 5pm.

U.S. Stocks Rise; Accenture Shares Decline On Weak Forecast

Micro-Cap Activist Holder Urges Sale Of Exa Corp