Skechers U.S.A., Inc. (NYSE:SKX)‘s stock had its “buy” rating reiterated by equities research analysts at Susquehanna Bancshares Inc in a report released on Tuesday. They currently have a $34.00 target price on the textile maker’s stock. Susquehanna Bancshares Inc’s target price indicates a potential upside of 36.88% from the company’s previous close.
A number of other research analysts have also recently issued reports on SKX. Vetr cut Skechers U.S.A. from a “hold” rating to a “sell” rating and set a $26.50 target price for the company. in a research note on Monday, June 12th. Cowen and Company reissued an “outperform” rating and issued a $35.00 target price on shares of Skechers U.S.A. in a research note on Wednesday, June 21st. BidaskClub raised Skechers U.S.A. from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. OTR Global raised Skechers U.S.A. from a “mixed” rating to a “positive” rating in a research note on Tuesday, July 18th. Finally, B. Riley reissued a “buy” rating and issued a $37.00 target price on shares of Skechers U.S.A. in a research note on Friday, July 21st. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company. Skechers U.S.A. presently has a consensus rating of “Hold” and an average price target of $31.02.
Shares of Skechers U.S.A. (SKX) opened at 24.84 on Tuesday. The firm has a market capitalization of $3.94 billion, a price-to-earnings ratio of 17.23 and a beta of 0.19. Skechers U.S.A. has a 12 month low of $18.81 and a 12 month high of $30.00. The firm’s 50-day moving average price is $25.75 and its 200-day moving average price is $26.56.
Skechers U.S.A. (NYSE:SKX) last posted its earnings results on Thursday, July 20th. The textile maker reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.06). Skechers U.S.A. had a net margin of 5.92% and a return on equity of 12.79%. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $966.46 million. During the same period in the previous year, the firm posted $0.48 earnings per share. The firm’s revenue was up 16.9% on a year-over-year basis. On average, equities analysts anticipate that Skechers U.S.A. will post $1.57 earnings per share for the current year.
In other news, General Counsel Phillip Paccione sold 1,004 shares of the company’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $27.24, for a total transaction of $27,348.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 38.20% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of SKX. BlackRock Inc. boosted its position in Skechers U.S.A. by 3,136.5% during the first quarter. BlackRock Inc. now owns 11,190,173 shares of the textile maker’s stock valued at $307,170,000 after purchasing an additional 10,844,421 shares during the last quarter. Mik Capital LLC acquired a new position in Skechers U.S.A. during the second quarter valued at approximately $56,285,000. Amerigo Asset Management boosted its position in Skechers U.S.A. by 38.2% during the second quarter. Amerigo Asset Management now owns 6,134,253 shares of the textile maker’s stock valued at $180,960,000 after purchasing an additional 1,694,253 shares during the last quarter. State Street Corp boosted its position in Skechers U.S.A. by 47.2% during the second quarter. State Street Corp now owns 5,031,124 shares of the textile maker’s stock valued at $148,423,000 after purchasing an additional 1,613,977 shares during the last quarter. Finally, Prudential Financial Inc. boosted its position in Skechers U.S.A. by 125.7% during the second quarter. Prudential Financial Inc. now owns 2,302,352 shares of the textile maker’s stock valued at $67,919,000 after purchasing an additional 1,282,260 shares during the last quarter. 70.52% of the stock is owned by hedge funds and other institutional investors.
Skechers U.S.A. Company Profile
Skechers U.SA, Inc is a designer and marketer of Skechers-branded lifestyle footwear for men, women and children, and performance footwear for men and women under the Skechers GO brand name. The Company operates through three segments: domestic wholesale sales, international wholesale sales, and retail sales, which includes e-commerce sales.
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