Building a successful investment portfolio requires skill and hard work, regardless of your investing focus. One stock to consider adding to your portfolio is Skechers (SKX), which was recently upgraded to a #1 (Strong Buy) ranking by Zacks on May 1, 2024.
Skechers U.S.A., Inc. is a footwear company based in Manhattan Beach, California, that designs, develops, and distributes footwear for men, women, and children under the SKECHERS brand and other unique names. Analysts have revised their earnings estimates higher for fiscal 2024, with the Zacks Consensus Estimate now at $4.02 per share, up $0.21.
Earnings are expected to grow by 15.2% for the current fiscal year, with revenue forecasted to increase by 10.3%. Over the past four weeks, SKX has seen a 15.7% increase in its stock price, outperforming the S&P 500.
With a #1 (Strong Buy) ranking, positive earnings estimate revisions, and strong market momentum, Skechers could be a valuable addition to your portfolio. This stock may help you achieve your financial goals, whether it’s saving for retirement, your children’s education, or other long-term objectives.