Skechers USA (NYSE:SKX) had its target price raised by stock analysts at Citigroup from $34.00 to $45.00 in a report released on Wednesday, MarketBeat Ratings reports. The brokerage presently has a “buy” rating on the textile maker’s stock. Citigroup’s price target suggests a potential upside of 13.58% from the company’s previous close.
Several other equities analysts also recently commented on SKX. Vetr downgraded shares of Skechers USA from a “strong-buy” rating to a “hold” rating and set a $33.73 price target on the stock. in a report on Monday, October 23rd. Susquehanna Bancshares reiterated a “buy” rating and set a $34.00 price target on shares of Skechers USA in a report on Tuesday, October 10th. Wells Fargo & Co upped their price target on shares of Skechers USA from $33.00 to $36.00 and gave the company a “market perform” rating in a report on Friday, October 20th. Cowen reiterated a “buy” rating and set a $38.00 price target on shares of Skechers USA in a report on Friday, November 3rd. Finally, Argus upgraded shares of Skechers USA from a “hold” rating to a “buy” rating in a report on Friday, December 15th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $38.55.
Skechers USA (NYSE SKX) opened at $39.62 on Wednesday. The firm has a market cap of $6,280.00, a price-to-earnings ratio of 24.46, a P/E/G ratio of 1.24 and a beta of 0.14. Skechers USA has a one year low of $22.31 and a one year high of $39.71. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.30 and a current ratio of 3.46.
In other Skechers USA news, Director Richard Siskind sold 25,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $33.40, for a total transaction of $851,700.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Morton D. Erlich sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, November 22nd. The shares were sold at an average price of $33.66, for a total transaction of $134,640.00. Following the transaction, the director now owns 12,000 shares in the company, valued at approximately $403,920. The disclosure for this sale can be found here. Insiders have sold a total of 786,250 shares of company stock worth $28,248,288 in the last 90 days. 21.73% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in Skechers USA by 5.0% during the 2nd quarter. Vanguard Group Inc. now owns 10,543,894 shares of the textile maker’s stock valued at $311,045,000 after purchasing an additional 500,360 shares in the last quarter. State Street Corp increased its stake in Skechers USA by 47.2% during the 2nd 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 in the last quarter. Dimensional Fund Advisors LP increased its stake in Skechers USA by 9.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,844,216 shares of the textile maker’s stock valued at $54,403,000 after purchasing an additional 162,641 shares in the last quarter. Boston Partners increased its stake in Skechers USA by 2.6% during the 3rd quarter. Boston Partners now owns 1,604,706 shares of the textile maker’s stock valued at $40,262,000 after purchasing an additional 41,403 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Skechers USA by 1.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,548,759 shares of the textile maker’s stock valued at $38,859,000 after purchasing an additional 19,722 shares in the last quarter. Institutional investors and hedge funds own 70.12% of the company’s stock.
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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.
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