We are tempted to add to our position in Sketchers (SKX). It's both oversold and cheap. This is a company that has virtually no debt, half a billion in cash, and in February they said this:
Skechers (NYSE:SKX) says sales in January were up 35% Y/Y and were strong into the first week of February. The company say it's "comfortable" with the consensus estimate for Q1 revenue of $885M-$890M and EPS of $0.50-$0.55. Looking ahead, Skechers continues to become more of a global play. International sales were at 41% of total Skechers sales in Q4 as the percentage swings closer to the company's long-term target of 50%.
At over $2 eps expected this year (up from $1.50 in 2015), the shares are quite cheap, especially given that 13% of the market cap is cash. It's also oversold (see attachment). Macquarie came out with a $45 price target this moring, but that obviously hasn't had any effect. Curious.