Yahoo Finance This Top Consumer Discretionary Stock is a #1 (Strong Buy): Why It Should Be on Your Radar
It doesn't matter if you're a growth, value, income, or momentum-focused investor -- building a successful investment portfolio takes skill, research, and a little bit of luck.
Should You Buy #1 (Strong Buy)-Ranked Skechers (SKX) for Your Portfolio?
Skechers was upgraded to the Zacks Rank #1 list on May 1, 2024. The Zacks Rank is a unique stock-rating model that helps you take advantage of earnings estimate revision trends and provides a way to get into stocks highly sought after by institutional investors.
Founded in 1992 and headquartered in Manhattan Beach, California, Skechers U.S.A., Inc. designs, develops, markets, and distributes footwear for men, women, and children in the United States and overseas under the SKECHERS name, as well as under several uniquely branded names.
Seven analysts revised their earnings estimate higher in the last 60 days for fiscal 2024, while the Zacks Consensus Estimate has increased $0.24 to $4.06 per share. SKX also boasts an average earnings surprise of 34.1%.
Earnings are forecasted to see growth of 16.3% for the current fiscal year, and sales are expected to increase 10.5%.
SKX has been moving higher over the past four weeks as well, up 14.7% compared to the S&P 500's gain of 7.3%.
Bottom Line
With a #1 (Strong Buy) ranking, positive trend in earnings estimate revisions, and strong market momentum, Skechers could be just the stock to help your portfolio generate returns that could fund your retirement, your kids' college tuition, or your short- and long-term savings goals.
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