Banking

Skechers Gets IBD Stock Rating Upgrade

On Monday, Skechers (SKX) got an upgrade for its IBD SmartSelect Composite Rating from 90 to 96.




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The revised score means the stock currently tops 96% of all other stocks in terms of key performance metrics and technical strength.

Skechers is trading within the buy zone from a 53.24 entry from a flat base.


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One weak spot is the company’s 70 EPS Rating, which tracks quarterly and annual earnings-per-share growth. Look for that to improve to 80 or better to show it’s in the top 20% of all stocks.

Its Accumulation/Distribution Rating of A- shows heavy buying by institutional investors, such as mutual funds and pension funds, over the last 13 weeks.

The company reported 267% earnings-per-share growth for Q2. That marks four straight quarters of rising EPS growth. Sales growth climbed 127%, up from 15% in the prior quarter. The company has now posted increasing growth in each of the last four reports.

Skechers earns the No. 5 rank among its peers in the Apparel-Shoes & Related industry group. Crocs (CROX) is the top-ranked stock within the group.

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