Why Shares of Skechers Have Soared 18% So Far This Year
Shares of footwear manufacturer and retailer Skechers (NYSE: SKX) have risen 18% year to date, according to data provided by S&P Global Market Intelligence. While the stock has been volatile, reaccelerating revenue growth throughout the year seems to be the main thing driving the stock higher.
As recently as early 2016, Skechers was producing consistent year-over-year revenue growth in excess of 25%. That streak abruptly ended late last year, with the U.S. wholesale business slowing down. Revenue grew by just 5.8% during the fourth quarter.
Image source: Skechers.
Source: Fool.com
Skechers U.s.a. Inc. Stock
€65.84
0.860%
With 19 Buy predictions and not the single Sell prediction the community is currently very high on Skechers U.s.a. Inc..
At the moment Skechers U.s.a. Inc. has reached the predicted target price of 66 €, with a current price of 65.84 €.
