Shares of Skechers (SKX) Fall on Susquehanna Comments and Reduced Outlook
Tweet
Share
E-mailGet Alerts SKX Hot Sheet
Price: $63.13 --0%
Rating Summary:
11 Buy, 16 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 5 | Down: 18 | New: 28
Rating Summary:
11 Buy, 16 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 5 | Down: 18 | New: 28
Join SI Premium – FREE
Shares of Skechers (NYSE: SKX) closed down 5.03 percent after Susquehanna cut its Q4 and 2012 estimates.
The firm also reduced its price target on the shares by $1 to $12.
An analyst at the firm comments, "We believe traction on new product is taking much longer to materialize while 1Q orders are still suffering from a lack of newness in the core and the toning hangover at retail. We also continue to question management putting all its eggs in one basket and going head-to-head in the fitness/athletic category against more established technical athletic brands." Still, retailers "are quick to note that SKX has an uncanny creative ability that can come on very quickly."
The firm also reduced its price target on the shares by $1 to $12.
An analyst at the firm comments, "We believe traction on new product is taking much longer to materialize while 1Q orders are still suffering from a lack of newness in the core and the toning hangover at retail. We also continue to question management putting all its eggs in one basket and going head-to-head in the fitness/athletic category against more established technical athletic brands." Still, retailers "are quick to note that SKX has an uncanny creative ability that can come on very quickly."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- The Campbell's Co. (CPB) PT Lowered to $20 at Jefferies, 'we remain cautious'
- Netskope (NTSK) PT Raised to $18 at BMO Capital
- Raymond James Starts Capital Bancorp (CBNK) at Market Perform
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
Susquehanna International Group of CompaniesSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
