Argus Research Downgrades Skechers USA Inc to Hold

Brokerage firm Argus Research Downgrades its rating on Skechers USA Inc(NYSE:SKX). The shares have been rated Hold. Previously, the analysts had a Buy rating on the shares. The rating by Argus Research was issued on Aug 1, 2016.

In a different note, On Jul 22, 2016, Monness Crespi Hardt said it Downgrades its rating on Skechers USA Inc. The shares have been rated ‘Neutral’ by the firm.

Skechers USA Inc (SKX) made into the market gainers list on Mondays trading session with the shares advancing 0.55% or 0.13 points. Due to strong positive momentum, the stock ended at $23.65, which is also near the day’s high of $24.04. The stock began the session at $23.69 and the volume stood at 19,42,511 shares. The 52-week high of the shares is $52.653333 and the 52 week low is $22.5. The company has a current market capitalization of $3,731 M and it has 15,77,49,270 shares in outstanding.

Skechers USA Inc(SKX) last announced its earnings results on Jul 21, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $877.81M. Analysts had an estimated revenue of $892.06M. Earnings per share were $0.48. Analysts had estimated an EPS of $0.52.

Several Insider Transactions has been reported to the SEC. On Jul 5, 2016, Jeffrey Greenberg (director) sold 10,000 shares at $30.15 per share price.Also, On May 31, 2016, Mark A Nason (Executive Vice President) sold 9,055 shares at $30.00 per share price.On May 31, 2016, Phillip Paccione (General Counsel & Secretary) sold 3,500 shares at $30.23 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.

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