Why Skechers USA Inc. Stock Surged 27% Last Month
Shares of Skechers USA Inc. (NYSE: SKX) were flying higher last month thanks to a surprisingly strong third-quarter earnings report. According to data from S&P Global Market Intelligence, shares of the casual-footwear specialist finished the month 27% higher.
Skechers raced past estimates on the top and bottom lines as the company seemed to finally overcome previous inventory overhangs and issues in its domestic wholesale business. As the chart below shows, the stock skyrocketed on the Oct. 20 earnings report and even gave back some of those gains after the results came out.
Source: Fool.com
Skechers U.s.a. Inc. Stock
€61.68
-0.450%
With 23 Buy predictions and not a single Sell prediction Skechers U.s.a. Inc. is an absolute favorite of our community.
As a result the target price of 69 € shows a slightly positive potential of 11.87% compared to the current price of 61.68 € for Skechers U.s.a. Inc..
