Skechers (SKX) Stock Lower, B. Riley Downgrades

NEW YORK (TheStreet) -- Shares of Skechers USA (SKX) were declining in pre-market trading on Thursday after B. Riley cut its rating on the stock to "neutral" from "buy."

The firm said its recent checks only increase its level of concern. B. Riley also has difficulty seeing a catalyst for business reacceleration, the Fly reports.

B. Riley has a $24 price target on shares of the Manhattan Beach, CA-based footwear retailer.

Last month, Skechers stock plunged after the company posted weaker-than-expected results for the 2016 third quarter and issued downbeat guidance for the fourth quarter.

Separately, TheStreet Ratings Team has a "Buy" rating with a score of B- on the stock.

The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, good cash flow from operations and expanding profit margins.

The team believes its strengths outweigh the fact that the company has had sub par growth in net income.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: SKX

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