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Skechers U.S.A., Inc. Message Board

  • catch83sails catch83sails Nov 21, 2012 8:35 AM Flag

    Skechers upgraded at Susquehanna

    MARKET TALK: Susquehanna Gets Sold on Skechers' Rebound
    8:12a ET November 21, 2012 (Dow Jones) MARKET TALK: Susquehanna Gets Sold on Skechers' Rebound
    8:11 EST - Recent checks convince Susquehanna that investors may have been right about Skechers' (SKX) turnaround as shares of the footwear maker have jumped 40% this year after nearly getting halved in 2011. "Up until recently, we felt that the stock was ahead of its fundamentals," the investment bank admits. But now, it thinks SKX "continues to build on momentum coming out of 3Q in terms of wholesale bookings and company-owned retail sales, positioning SKX well for 1H. Retailers have responded nicely to fresh and updated styles while expenses" seem in check. Susquehanna upgrades SKX to positive and boosts its price target for a 5th time this year, to $22 from $19. Inactive premarket, the stock closed Tuesday at $16.96 and it's up 6.1% this week following recent weakness

    Best I can do without being able to post links.

    Happy Thanksgiving to all.

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    • Sketchers shoes are very good, better than any other. So the SKX goes up eventually.

      ichabod

      • 1 Reply to sleepy.ichabod
      • I suspect you are correct. The short interest on the stock has now dropped to 3.16 million shares or roughly 6%. I know I used to make attempts once in a while to slip in a bid or ask in pre-market and the MM computer would automatically beat my bid or ask price by a penny. The two little 100 share offers (which I know are extremely low and high) are indeed me this morning. After I saw the short interest numbers this morning I wanted to see if the MM was still interested in controlling the price and it appears they are not, so I just left them up. This tells my little pea sized brain no one has interest in accumulating or selling short at present. All that said, if SKX can indeed acheive the numbers they talked about in the last call, then they should return to profits and as those go up, the price should begin to reflect the value of the business, not just the book value.

        My sentiment right now is hold, but I would be a buyer or seller of naked puts if panic shows it's ugly head, as our useless gov't leaders fight over their steal and waste agendas.

    • Why not look at the recent story from Motley Fool about this upgrade? It is in the opening page in the news stories when you bring up SKX.

      I tried to post it here twice, but YAHOO censors are busy making sure it is not posted here. Yet they allow catch83sails to post his stuff from another news story. Nice double-standards, YAHOO......

      • 1 Reply to callingbluff
      • Hey calling

        Thanks for pointing out the article. I checked it out and they have a point about upgrades and downgrades moving the price for short periods of time.

        Some analyst on CNBC this morning saying it might be a good year for footwear, though she only pumped SHOO while I was watching.

        YAHOO got me on the censorship when I first tried to reply, so you are not the only one.

        My best success in passing on info has been to just cut and paste the text from articles.

        GL and the best of holiday seasons to you.

    • From Motley Fool:

      What: Shares of shoemaker Skechers jumped 10% today after being upgraded by an analyst.

      So what: Susquehanna analyst Tom Haggerty upgraded the stock to positive from neutral on projections of improving sales next year. The analyst set his price target at $22 per share for the next year.

      Now what: We don't put too much stock in an analyst's upgrade or downgrade because the pop or drop often doesn't last long. Skechers has had a rough 2012 and is likely to post a loss for the year. A lot of improvement needs to take place in 2013 for it to swing to a profit, and that's just too much risk for me to buy into today, especially after the stock jumped.

    • From Motley Fool:
      Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

      What: Shares of shoemaker Skechers (NYSE: SKX ) jumped 10% today after being upgraded by an analyst.

      So what: Susquehanna analyst Tom Haggerty upgraded the stock to positive from neutral on projections of improving sales next year. The analyst set his price target at $22 per share for the next year.

      Now what: We don't put too much stock in an analyst's upgrade or downgrade because the pop or drop often doesn't last long. Skechers has had a rough 2012 and is likely to post a loss for the year. A lot of improvement needs to take place in 2013 for it to swing to a profit, and that's just too much risk for me to buy into today, especially after the stock jumped.

 
SKX
30.68+0.49(+1.62%)May 27 4:02 PMEDT