Why Skechers (SKX) is a Top Momentum Stock for the Long-Term
For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.
Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.
Is This 1 Momentum Stock a Screaming Buy Right Now?
For momentum investors, upward or downward trends in a stock's price or earnings outlook take precedent, so they'll want to zero in on the Momentum Style Score. This Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.
Skechers (SKX)
Founded in 1992 and headquartered in Manhattan Beach, California, Skechers U.S.A., Inc. designs, develops, markets, and distributes footwear for men, women, and children in the United States and overseas under the SKECHERS name, as well as under several uniquely branded names.
SKX sits at a Zacks Rank #2 (Buy), holds a Momentum Style Score of A, and has a VGM Score of A. The stock is up 1.5% and up 3.4% over the past one-week and four-week period, respectively, and Skechers has gained 37.8% in the last one-year period as well. Additionally, an average of 1,589,260.25 shares were traded over the last 20 trading sessions.
A company's earnings performance is important for momentum investors as well. For fiscal 2023, three analysts revised their earnings estimate higher in the last 60 days for SKX, while the Zacks Consensus Estimate has increased $0.03 to $3.39 per share. SKX also boasts an average earnings surprise of 39.1%.
SKX should be on investors' short list because of its impressive earnings fundamentals, a good Zacks Rank, and strong Momentum and VGM Style Scores.
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Skechers U.S.A., Inc. (SKX) : Free Stock Analysis Report
