NEW YORK (
-- Skechers USA
) has been downgraded by TheStreet Ratings from buy to hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and reasonable valuation levels. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, a generally disappointing performance in the stock itself and feeble growth in the company's earnings per share.
Skechers U.S.A., Inc. engages in the design, development, marketing, and distribution of footwear for men, women, and children in the United States and internationally. The company has a P/E ratio of 7.2, equal to the average consumer non-durables industry P/E ratio and below the S&P 500 P/E ratio of 22.6. Skechers USA has a market cap of $730.7 million and is part of the
industry. Shares are up 3.4% year to date as of the close of trading on Thursday.
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