Citigroup Issues a Downgrade on Skechers USA (NYSE:SKX) Shares. What’s Next?

October 2, 2018 - By Marguerite Chambers

Skechers U.S.A., Inc. (NYSE:SKX) Logo

Investors sentiment increased to 1.13 in 2018 Q2. Its up 0.05, from 1.08 in 2018Q1. It is positive, as 58 investors sold Skechers U.S.A., Inc. shares while 67 reduced holdings. 43 funds opened positions while 98 raised stakes. 108.95 million shares or 0.18% more from 108.75 million shares in 2018Q1 were reported.

Los Angeles & Equity Research has 0.07% invested in Skechers U.S.A., Inc. (NYSE:SKX). Ny State Teachers Retirement Systems reported 246,363 shares. Northwestern Mutual Wealth Communications stated it has 0% of its portfolio in Skechers U.S.A., Inc. (NYSE:SKX). 28,387 were reported by Teachers Retirement Of The State Of Kentucky. The New York-based Citigroup has invested 0% in Skechers U.S.A., Inc. (NYSE:SKX). North Star Invest has invested 0% in Skechers U.S.A., Inc. (NYSE:SKX). Hl Financial Service Ltd Limited Liability Company holds 47,910 shares or 0.02% of its portfolio. 138,628 were reported by Cap Fund Mgmt Sa. 70 were accumulated by Smithfield Tru. Pnc Fincl Ser Grp reported 8,715 shares stake. 273,707 are held by Scout. Boston Partners holds 0.04% in Skechers U.S.A., Inc. (NYSE:SKX) or 1.20M shares. Ubs Asset Americas stated it has 121,432 shares. State Board Of Administration Of Florida Retirement reported 215,258 shares or 0.02% of all its holdings. Highbridge Capital Mgmt Llc holds 0.1% in Skechers U.S.A., Inc. (NYSE:SKX) or 169,029 shares.

Since May 2, 2018, it had 0 insider buys, and 2 sales for $728,223 activity. WEINBERG DAVID had sold 25,210 shares worth $708,951.

Skechers USA (NYSE:SKX) Receives a Downgrade

In a research report published on Tuesday morning, Citigroup announced that they will be downgrading shares of Skechers USA (NYSE:SKX) from a Buy to a Neutral rating.

Skechers U.S.A., Inc. (NYSE:SKX) Ratings Coverage

Among 11 analysts covering Skechers USA (NYSE:SKX), 5 have Buy rating, 0 Sell and 6 Hold. Therefore 45% are positive. Skechers USA has $5200 highest and $28 lowest target. $36’s average target is 31.82% above currents $27.31 stock price. Skechers USA had 20 analyst reports since April 13, 2018 according to SRatingsIntel. The stock of Skechers U.S.A., Inc. (NYSE:SKX) has “Buy” rating given on Friday, July 20 by Standpoint Research. The firm earned “Neutral” rating on Friday, July 20 by Wedbush. The stock of Skechers U.S.A., Inc. (NYSE:SKX) earned “Buy” rating by FBR Capital on Friday, July 20. The rating was maintained by FBR Capital on Tuesday, April 17 with “Buy”. Wedbush downgraded the stock to “Neutral” rating in Friday, April 20 report. The stock of Skechers U.S.A., Inc. (NYSE:SKX) earned “Buy” rating by Buckingham Research on Friday, July 20. The firm earned “Buy” rating on Monday, July 23 by Citigroup. The stock has “Buy” rating by Cowen & Co on Thursday, April 19. Cowen & Co downgraded it to “Market Perform” rating and $28 target in Thursday, September 20 report. The rating was maintained by Buckingham Research on Thursday, August 16 with “Buy”.

The stock decreased 2.22% or $0.62 during the last trading session, reaching $27.31. About 1.31 million shares traded. Skechers U.S.A., Inc. (NYSE:SKX) has risen 1.26% since October 2, 2017 and is uptrending. It has underperformed by 14.36% the S&P500.

Skechers U.S.A., Inc. designs, develops, markets, and distributes footwear for men, women, and children; and performance footwear for men and women under the Skechers GO brand worldwide. The company has market cap of $4.35 billion. It operates through three divisions: Domestic Wholesale Sales, International Wholesale Sales, and Retail Sales. It has a 22.68 P/E ratio. The firm offers casual boots, shoes, and sandals for men; oxfords and slip-ons, lug outsole and fashion boots, and casual sandals for women; dress casuals, seasonal sandals and boots, classic and wide fit, and relaxed fit casuals for men and women; and casual fusion line for young men and women under the Skechers USA brand.

More notable recent Skechers U.S.A., Inc. (NYSE:SKX) news were published by: 247Wallst.com which released: “Top Analyst Upgrades and Downgrades: Boston Scientific, Etsy, General Electric, Morgan Stanley, SeaWorld, Skechers …” on October 02, 2018, also Benzinga.com with their article: “Cowen Downgrades Skechers, Says Shoemaker Faces Forex, Inventory Pressures” published on September 20, 2018, Globenewswire.com published: “Hagens Berman Alerts Investors in Skechers USA, Inc. (NYSE: SKX) to the November 5, 2018 Securities Class Action …” on September 06, 2018. More interesting news about Skechers U.S.A., Inc. (NYSE:SKX) were released by: Globenewswire.com and their article: “SHAREHOLDER ALERT: AMPE LCI CBS PM SKX PVG OPK USAT TRCO COCP: The Law Offices of Vincent Wong …” published on September 28, 2018 as well as Globenewswire.com‘s news article titled: “SHAREHOLDER ALERT: TSLA PDD AMPE LCI CBS ORCL SBGI SKX PM QRTEA: The Law Offices of Vincent Wong …” with publication date: September 23, 2018.

Skechers U.S.A., Inc. (NYSE:SKX) Institutional Positions Chart

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