Skechers U.S.A., Inc. (SKX) Upgraded by Vetr Inc. to “Strong-Buy”

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.

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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.

Analyst Recommendations for Skechers U.S.A. (NYSE:SKX)

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