Skechers USA (SKX) Given a $42.00 Price Target at Cowen

Cowen set a $42.00 price target on Skechers USA (NYSE:SKX) in a research report sent to investors on Monday. The firm currently has a buy rating on the textile maker’s stock.

SKX has been the subject of a number of other reports. Wells Fargo & Company upped their price target on shares of Skechers USA from $33.00 to $36.00 and gave the stock a market perform rating in a research report on Friday, October 20th. Argus upgraded shares of Skechers USA from a hold rating to a buy rating in a research report on Friday. Susquehanna Bancshares reiterated a buy rating and issued a $46.00 price target on shares of Skechers USA in a research report on Monday, December 4th. B. Riley set a $37.00 price target on shares of Skechers USA and gave the stock a buy rating in a research report on Friday, October 20th. Finally, Vetr lowered shares of Skechers USA from a buy rating to a hold rating and set a $34.87 price target for the company. in a research report on Monday, November 20th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $36.80.

Shares of Skechers USA (NYSE:SKX) opened at $37.97 on Monday. The company has a current ratio of 3.46, a quick ratio of 2.30 and a debt-to-equity ratio of 0.04. The stock has a market cap of $6,042.46, a P/E ratio of 23.68, a P/E/G ratio of 1.60 and a beta of 0.15. Skechers USA has a 12-month low of $22.31 and a 12-month high of $38.41.

Skechers USA (NYSE:SKX) last announced its earnings results on Thursday, October 19th. The textile maker reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.16. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.07 billion. Skechers USA had a net margin of 6.38% and a return on equity of 13.70%. The firm’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.42 earnings per share. equities analysts predict that Skechers USA will post 1.7 EPS for the current fiscal year.

In related news, President Michael Greenberg sold 150,000 shares of the company’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $31.86, for a total transaction of $4,779,000.00. Following the completion of the transaction, the president now owns 251,679 shares in the company, valued at $8,018,492.94. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 461,250 shares of company stock valued at $14,955,008. 38.20% of the stock is owned by company insiders.

Several large investors have recently modified their holdings of SKX. Great West Life Assurance Co. Can boosted its position in shares of Skechers USA by 0.6% during the second quarter. Great West Life Assurance Co. Can now owns 80,310 shares of the textile maker’s stock worth $2,367,000 after acquiring an additional 503 shares during the last quarter. Sei Investments Co. raised its stake in Skechers USA by 27.6% during the second quarter. Sei Investments Co. now owns 22,206 shares of the textile maker’s stock valued at $656,000 after purchasing an additional 4,799 shares in the last quarter. TD Asset Management Inc. raised its stake in Skechers USA by 17.3% during the second quarter. TD Asset Management Inc. now owns 66,400 shares of the textile maker’s stock valued at $1,959,000 after purchasing an additional 9,800 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in Skechers USA by 74.8% during the second quarter. Canada Pension Plan Investment Board now owns 173,800 shares of the textile maker’s stock valued at $5,127,000 after purchasing an additional 74,400 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in Skechers USA by 11.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 711,659 shares of the textile maker’s stock valued at $20,994,000 after purchasing an additional 75,217 shares in the last quarter. Hedge funds and other institutional investors own 70.08% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “Skechers USA (SKX) Given a $42.00 Price Target at Cowen” was first reported by Sports Perspectives and is the sole property of of Sports Perspectives. If you are viewing this piece on another site, it was copied illegally and reposted in violation of U.S. & international trademark and copyright laws. The legal version of this piece can be viewed at https://sportsperspectives.com/2017/12/19/skechers-usa-skx-given-a-42-00-price-target-at-cowen.html.

About Skechers USA

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 USA (NYSE:SKX)

Receive News & Ratings for Skechers USA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Skechers USA and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply