Vetr upgraded shares of Skechers U.S.A., Inc. (NYSE:SKX) from a buy rating to a strong-buy rating in a research report released on Monday morning. The firm currently has $34.87 price target on the textile maker’s stock.
A number of other research firms have also weighed in on SKX. Cowen and Company set a $35.00 target price on Skechers U.S.A. and gave the stock a buy rating in a report on Monday, August 14th. Buckingham Research set a $34.00 target price on Skechers U.S.A. and gave the stock a buy rating in a report on Saturday, July 22nd. Citigroup Inc. boosted their target price on Skechers U.S.A. from $30.00 to $34.00 and gave the stock a buy rating in a report on Friday, July 21st. B. Riley reissued a buy rating and set a $37.00 target price on shares of Skechers U.S.A. in a report on Friday, July 21st. Finally, Susquehanna Bancshares Inc reissued a buy rating and set a $34.00 target price on shares of Skechers U.S.A. in a report on Tuesday, October 10th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $34.74.
Shares of Skechers U.S.A. (NYSE SKX) traded up $0.46 during trading on Monday, hitting $32.46. The stock had a trading volume of 1,724,600 shares, compared to its average volume of 2,838,444. Skechers U.S.A. has a one year low of $21.33 and a one year high of $34.87. The company has a market cap of $5,120.00, a PE ratio of 19.88, a P/E/G ratio of 1.36 and a beta of 0.11. The company has a current ratio of 3.46, a quick ratio of 2.30 and a debt-to-equity ratio of 0.04.
Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings data on Thursday, October 19th. The textile maker reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.16. Skechers U.S.A. had a return on equity of 13.70% and a net margin of 6.38%. The company had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the prior year, the business posted $0.42 EPS. The business’s revenue was up 16.2% compared to the same quarter last year. analysts forecast that Skechers U.S.A. will post 1.69 earnings per share for the current fiscal year.
In other news, Director Jeffrey Greenberg sold 180,000 shares of the company’s stock in a transaction on Friday, October 20th. The stock was sold at an average price of $31.72, for a total transaction of $5,709,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard Siskind sold 25,500 shares of the company’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $33.40, for a total value of $851,700.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 386,504 shares of company stock worth $12,319,249. Insiders own 38.20% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Seven Eight Capital LP bought a new stake in shares of Skechers U.S.A. during the 2nd quarter valued at $105,000. Aviance Capital Management LLC bought a new stake in shares of Skechers U.S.A. during the 2nd quarter valued at $109,000. Exane Derivatives bought a new stake in shares of Skechers U.S.A. during the 2nd quarter valued at $118,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Skechers U.S.A. by 12.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,594 shares of the textile maker’s stock valued at $136,000 after acquiring an additional 503 shares during the period. Finally, PNC Financial Services Group Inc. lifted its position in shares of Skechers U.S.A. by 6.6% during the 2nd quarter. PNC Financial Services Group Inc. now owns 5,428 shares of the textile maker’s stock valued at $161,000 after acquiring an additional 335 shares during the period. Hedge funds and other institutional investors own 70.10% of the company’s stock.
About Skechers U.S.A.
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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