#5 - Skechers (NYSE:SKX)
For many years, if investors were looking for specialty retailers, they might consider Nike Inc. (NYSE: NKE). However, in 2024, Skechers USA Inc. (NYSE: SKX) may be a better name to consider. The stock is up 36.9% in the last 12 months, which is on par with the S&P 500. In 2024, the stock is up just over 5%, but analysts give the stock a consensus price target of $77.55, which would be a gain of over 18%.
The reason to believe that SKX stock is ready for multi-year growth is the way the company appeals to two broad popular demographics. Its slip-on shoes make it popular with older, more affluent consumers. The company’s footwear is also catching on with the prized Gen-Z consumers. Both younger and older consumers are buying their shoes via its direct-to-consumer (D2C) model, which is helping increase profits by cutting out the retail middleman.
SKX stock has delivered a total return of 84.79% to investors in the last five years. However, it’s important to note that the company does not currently pay a dividend so that growth is all from capital gains.
About Skechers U.S.A.
Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children worldwide. The company operates through Wholesale and Direct-to-Consumer segments. It offers footwear under Skechers Hands Free Slip-ins, Skechers Arch Fit, and Skechers Air-Cooled Memory Foam brands.
Read More - Current Price
- $60.64
- Consensus Rating
- Buy
- Ratings Breakdown
- 11 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $78.09 (28.8% Upside)
