Skechers USA (SKX) Investors: Cowen & Co. Maintains “Buy” Rating, Sees $41.0000/Share; Pomelo Capital Has Cut Its Avis Budget Group (CAR) Position

April 20, 2018 - By Michael Leger

Skechers U.S.A., Inc. (NYSE:SKX) Logo

Professional analysts at Cowen & Co. have $41.0000 TP on Skechers USA (NYSE:SKX). Cowen & Co.’s TP indicates a potential downside of -2.57% from the company’s previous close. The rating was revealed to investors in a research report on Thursday morning.

Pomelo Capital Llc decreased Avis Budget Group (CAR) stake by 20% reported in 2017Q4 SEC filing. Pomelo Capital Llc sold 10,000 shares as Avis Budget Group (CAR)’s stock rose 3.94%. The Pomelo Capital Llc holds 40,000 shares with $1.76 million value, down from 50,000 last quarter. Avis Budget Group now has $3.94 billion valuation. The stock increased 0.77% or $0.37 during the last trading session, reaching $48.58. About 1.42 million shares traded. Avis Budget Group, Inc. (NASDAQ:CAR) has risen 66.28% since April 20, 2017 and is uptrending. It has outperformed by 54.73% the S&P500.

Analysts await Avis Budget Group, Inc. (NASDAQ:CAR) to report earnings on May, 2. They expect $-1.07 EPS, down 13.83% or $0.13 from last year’s $-0.94 per share. After $0.45 actual EPS reported by Avis Budget Group, Inc. for the previous quarter, Wall Street now forecasts -337.78% negative EPS growth.

Investors sentiment increased to 0.7 in Q4 2017. Its up 0.12, from 0.58 in 2017Q3. It is positive, as 39 investors sold CAR shares while 78 reduced holdings. 36 funds opened positions while 46 raised stakes. 100.88 million shares or 8.81% less from 110.63 million shares in 2017Q3 were reported. Liberty Mutual Group Asset stated it has 0.02% in Avis Budget Group, Inc. (NASDAQ:CAR). Tower Research (Trc) has 13,851 shares for 0.08% of their portfolio. 19,331 are owned by Schroder Gp. Moreover, Qs Invsts Ltd Limited Liability Company has 0% invested in Avis Budget Group, Inc. (NASDAQ:CAR) for 18 shares. Netherlands-based Ing Groep Nv has invested 0.01% in Avis Budget Group, Inc. (NASDAQ:CAR). Citigroup holds 0% of its portfolio in Avis Budget Group, Inc. (NASDAQ:CAR) for 29,196 shares. Gateway Advisers Ltd reported 149,990 shares or 0.06% of all its holdings. 23,334 are held by Millennium Limited Liability Corp. Trexquant Inv Limited Partnership holds 8,296 shares. Meyer Handelman owns 96,925 shares for 0.2% of their portfolio. Winfield Assoc accumulated 0% or 35 shares. holds 0% or 462,000 shares in its portfolio. Commonwealth Of Pennsylvania Public School Empls Retrmt Sys invested 0.01% in Avis Budget Group, Inc. (NASDAQ:CAR). Diligent Invsts Limited holds 12,177 shares. Verition Fund Ltd Liability reported 8,190 shares stake.

Since October 30, 2017, it had 1 insider purchase, and 1 sale for $140.91 million activity. De Shon Larry D also sold $1.05 million worth of Avis Budget Group, Inc. (NASDAQ:CAR) shares. 3.50M shares valued at $141.96 million were bought by SRS Investment Management – LLC on Friday, December 8.

Pomelo Capital Llc increased Gnc Hldgs Inc (NYSE:GNC) stake by 511,339 shares to 653,039 valued at $2.41M in 2017Q4. It also upped Community Health Sys Inc New (Put) (NYSE:CYH) stake by 726,600 shares and now owns 736,600 shares. Herbalife Ltd (Prn) was raised too.

Among 12 analysts covering Avis Budget (NASDAQ:CAR), 7 have Buy rating, 2 Sell and 3 Hold. Therefore 58% are positive. Avis Budget had 37 analyst reports since August 5, 2015 according to SRatingsIntel. The company was maintained on Friday, September 15 by Morgan Stanley. The firm has “Sell” rating given on Wednesday, February 14 by Goldman Sachs. On Thursday, September 14 the stock rating was maintained by Credit Suisse with “Hold”. Deutsche Bank maintained Avis Budget Group, Inc. (NASDAQ:CAR) rating on Thursday, February 25. Deutsche Bank has “Buy” rating and $46 target. The rating was initiated by Goldman Sachs on Monday, October 24 with “Neutral”. J.P. Morgan initiated the shares of CAR in report on Friday, August 4 with “Buy” rating. The firm has “Buy” rating given on Thursday, February 25 by M Partners. On Wednesday, November 1 the stock rating was maintained by Barclays Capital with “Equal-Weight”. On Monday, November 16 the stock rating was maintained by Barclays Capital with “Equal Weight”. The firm earned “Neutral” rating on Wednesday, November 4 by JP Morgan.

The stock decreased 0.31% or $0.13 during the last trading session, reaching $42.08. About 8.50M shares traded or 292.74% up from the average. Skechers U.S.A., Inc. (NYSE:SKX) has risen 33.31% since April 20, 2017 and is uptrending. It has outperformed by 21.76% the S&P500.

Skechers U.S.A., Inc. designs, develops, markets, and distributes footwear for men, women, and children; and performance footwear for men and women under the Skechers GO brand worldwide. The company has market cap of $6.74 billion. It operates through three divisions: Domestic Wholesale Sales, International Wholesale Sales, and Retail Sales. It has a 36.91 P/E ratio. The firm offers casual boots, shoes, and sandals for men; oxfords and slip-ons, lug outsole and fashion boots, and casual sandals for women; dress casuals, seasonal sandals and boots, classic and wide fit, and relaxed fit casuals for men and women; and casual fusion line for young men and women under the Skechers USA brand.

Among 19 analysts covering Skechers Usa Inc. (NYSE:SKX), 16 have Buy rating, 0 Sell and 3 Hold. Therefore 84% are positive. Skechers Usa Inc. has $185 highest and $2.50 lowest target. $58.99’s average target is 40.19% above currents $42.08 stock price. Skechers Usa Inc. had 66 analyst reports since July 22, 2015 according to SRatingsIntel. Buckingham Research maintained Skechers U.S.A., Inc. (NYSE:SKX) rating on Monday, September 25. Buckingham Research has “Buy” rating and $32 target. Monness Crespi & Hardt maintained the shares of SKX in report on Thursday, July 30 with “Buy” rating. The firm has “Neutral” rating by Buckingham Research given on Friday, October 23. As per Friday, December 1, the company rating was maintained by Monness Crespi. The rating was upgraded by Cowen & Co to “Outperform” on Friday, March 24. Wells Fargo maintained it with “Market Perform” rating and $36 target in Friday, October 20 report. The firm earned “Positive” rating on Friday, September 30 by Susquehanna. The rating was maintained by B. Riley & Co on Tuesday, February 6 with “Buy”. Vetr downgraded Skechers U.S.A., Inc. (NYSE:SKX) on Friday, August 28 to “Buy” rating. The stock of Skechers U.S.A., Inc. (NYSE:SKX) has “Outperform” rating given on Tuesday, December 6 by Wells Fargo.

Since October 24, 2017, it had 0 insider purchases, and 7 selling transactions for $4.79 million activity. 17,432 shares were sold by PACCIONE PHILLIP, worth $663,113 on Friday, March 2. Shares for $673,687 were sold by NASON MARK A. GREENBERG ROBERT had sold 37,814 shares worth $1.53 million on Friday, March 2. The insider Erlich Morton D sold 4,000 shares worth $134,620. WEINBERG DAVID sold $935,158 worth of stock. The insider SISKIND RICHARD sold 25,500 shares worth $851,700.

Investors sentiment increased to 1.34 in 2017 Q4. Its up 0.07, from 1.27 in 2017Q3. It is positive, as 25 investors sold Skechers U.S.A., Inc. shares while 86 reduced holdings. 76 funds opened positions while 73 raised stakes. 110.47 million shares or 8.33% more from 101.97 million shares in 2017Q3 were reported. Goldman Sachs Grp Inc Inc accumulated 2.24 million shares. Northwestern Mutual Wealth Management Co owns 1,221 shares. Nuveen Asset Management Limited Liability has invested 0% in Skechers U.S.A., Inc. (NYSE:SKX). Alliancebernstein L P reported 0% of its portfolio in Skechers U.S.A., Inc. (NYSE:SKX). Dearborn Prtnrs Limited Liability Company holds 0.02% in Skechers U.S.A., Inc. (NYSE:SKX) or 5,665 shares. State Teachers Retirement System, a New York-based fund reported 254,834 shares. Shelton Capital Mngmt stated it has 10,259 shares or 0.02% of all its holdings. Florida-based Raymond James And Assocs has invested 0% in Skechers U.S.A., Inc. (NYSE:SKX). Winfield Assocs holds 60 shares. 24,100 are held by Pinnacle Ltd. Menta Cap Ltd Llc holds 10,109 shares or 0.07% of its portfolio. Aviance Capital Management Limited Company holds 0.01% or 3,016 shares. Schwab Charles Invest Management holds 803,955 shares or 0.02% of its portfolio. D E Shaw Company accumulated 34,707 shares. Bogle Mgmt Lp De has 393,100 shares.

Avis Budget Group, Inc. (NASDAQ:CAR) Institutional Positions Chart

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