SKX starts a marketing campaign with Michael Ballack
Skechers USA, Inc. (NYSE: SKX) is an American company for lifestyle and performance shoes. SKX designs, develops and markets a diverse range of lifestyle and performance shoes, clothing and accessories for men, women and children. Skechers collections are available through department stores and specialty stores in the United States and over 170 other countries and territories. The company’s products are also directly available to consumers through approximately 4,000 retail stores and e-commerce websites.
On June 8th, Skechers announced the addition of German professional footballer Michael Ballack to the company’s marketing activities. This year, Skechers is launching a campaign with the popular footballer in Germany and across Europe. The three-time German Footballer of the Year will appear in multi-platform marketing initiatives to support SKX’s performance and lifestyle collections.
Skechers stock is up nearly 40% year-over-year and is now 78% up 78% from its July 2020 low of $ 27.03. Additionally, Skechers stock is up 33% year-to-date, with support resurfacing the 50-day moving average over the past few weeks. SKX was last traded at $ 48.15 this morning.
At the start of trading this morning, analysts were optimistic about the security. In particular, five of the eight covering brokerage firms have a “buy” or “strong” buy recommendation, a “sell” is not in sight.
Overall, Skechers stock appears to be a promising recovery game right now. SKX’s revenue and net income are still down significantly compared to their pre-pandemic levels. However, had previously reported consistent sales and net profit growth for several years, suggesting the company’s fundamentals are solid. Additionally, SKX’s P / E ratio is estimated at 21.41, which is a massive improvement over Skechers stock’s current P / E ratio of 50.52.
Now it actually looks like a good time to buy a security premium too. This corresponds to the Schaeffer’s Volatility Index (SVI) of the share of 32%, which ranks in the 4th percentile of the year and indicates currently low volatility expectations.