Morgan Stanley Boosts Skechers U.S.A., Inc. (SKX) Price Target to $31.00

Skechers U.S.A., Inc. (NYSE:SKX) had its target price upped by Morgan Stanley from $28.50 to $31.00 in a research note published on Friday. They currently have an equal weight rating on the textile maker’s stock.

Several other equities analysts have also recently issued reports on the stock. Vetr cut shares of Skechers U.S.A. from a strong-buy rating to a buy rating and set a $32.17 price objective on the stock. in a research note on Tuesday, July 25th. BidaskClub upgraded shares of Skechers U.S.A. from a sell rating to a hold rating in a research report on Saturday, August 12th. Cowen and Company set a $35.00 target price on shares of Skechers U.S.A. and gave the stock a buy rating in a research report on Monday, August 14th. OTR Global upgraded shares of Skechers U.S.A. from a mixed rating to a positive rating in a research report on Tuesday, July 18th. Finally, Zacks Investment Research lowered shares of Skechers U.S.A. from a hold rating to a sell rating in a research report on Thursday, July 27th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the stock. Skechers U.S.A. currently has a consensus rating of Hold and an average target price of $34.16.

Skechers U.S.A. (SKX) traded up 0.03% on Friday, hitting $34.00. 2,732,483 shares of the company traded hands. The firm has a market capitalization of $5.39 billion, a P/E ratio of 23.58 and a beta of 0.19. Skechers U.S.A. has a 12 month low of $18.81 and a 12 month high of $34.87. The stock’s 50-day moving average is $25.54 and its 200 day moving average is $26.45.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings data on Thursday, October 19th. The textile maker reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.16. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.07 billion. Skechers U.S.A. had a net margin of 6.38% and a return on equity of 14.10%. The company’s revenue was up 16.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.42 EPS. Equities analysts forecast that Skechers U.S.A. will post $1.56 EPS for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This news story was originally published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this news story on another site, it was stolen and republished in violation of United States and international copyright law. The original version of this news story can be read at https://ledgergazette.com/2017/10/23/morgan-stanley-boosts-skechers-u-s-a-inc-skx-price-target-to-31-00.html.

In other news, General Counsel Phillip Paccione sold 1,004 shares of the company’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $27.24, for a total transaction of $27,348.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 21.73% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of SKX. US Bancorp DE increased its stake in shares of Skechers U.S.A. by 94.9% during the 1st quarter. US Bancorp DE now owns 3,895 shares of the textile maker’s stock valued at $107,000 after acquiring an additional 1,897 shares during the last quarter. UBS Asset Management Americas Inc. increased its stake in shares of Skechers U.S.A. by 23.6% during the 1st quarter. UBS Asset Management Americas Inc. now owns 86,746 shares of the textile maker’s stock valued at $2,381,000 after acquiring an additional 16,578 shares during the last quarter. Sei Investments Co. increased its stake in shares of Skechers U.S.A. by 9.6% during the 1st quarter. Sei Investments Co. now owns 17,407 shares of the textile maker’s stock valued at $477,000 after acquiring an additional 1,520 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Skechers U.S.A. by 301.5% during the 1st quarter. JPMorgan Chase & Co. now owns 403,556 shares of the textile maker’s stock valued at $11,079,000 after acquiring an additional 303,040 shares during the last quarter. Finally, Credit Agricole S A i

Several other equities analysts have also recently issued reports on the stock. Vetr cut shares of Skechers U.S.A. from a strong-buy rating to a buy rating and set a $32.17 price objective on the stock. in a research note on Tuesday, July 25th. BidaskClub upgraded shares of Skechers U.S.A. from a sell rating to a hold rating in a research report on Saturday, August 12th. Cowen and Company set a $35.00 target price on shares of Skechers U.S.A. and gave the stock a buy rating in a research report on Monday, August 14th. OTR Global upgraded shares of Skechers U.S.A. from a mixed rating to a positive rating in a research report on Tuesday, July 18th. Finally, Zacks Investment Research lowered shares of Skechers U.S.A. from a hold rating to a sell rating in a research report on Thursday, July 27th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the stock. Skechers U.S.A. currently has a consensus rating of Hold and an average target price of $34.16.

Skechers U.S.A. (SKX) traded up 0.03% on Friday, hitting $34.00. 2,732,483 shares of the company traded hands. The firm has a market capitalization of $5.39 billion, a P/E ratio of 23.58 and a beta of 0.19. Skechers U.S.A. has a 12 month low of $18.81 and a 12 month high of $34.87. The stock’s 50-day moving average is $25.54 and its 200 day moving average is $26.45.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings data on Thursday, October 19th. The textile maker reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.16. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.07 billion. Skechers U.S.A. had a net margin of 6.38% and a return on equity of 14.10%. The company’s revenue was up 16.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.42 EPS. Equities analysts forecast that Skechers U.S.A. will post $1.56 EPS for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This news story was originally published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this news story on another site, it was stolen and republished in violation of United States and international copyright law. The original version of this news story can be read at https://ledgergazette.com/2017/10/23/morgan-stanley-boosts-skechers-u-s-a-inc-skx-price-target-to-31-00.html.

In other news, General Counsel Phillip Paccione sold 1,004 shares of the company’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $27.24, for a total transaction of $27,348.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 21.73% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of SKX. US Bancorp DE increased its stake in shares of Skechers U.S.A. by 94.9% during the 1st quarter. US Bancorp DE now owns 3,895 shares of the textile maker’s stock valued at $107,000 after acquiring an additional 1,897 shares during the last quarter. UBS Asset Management Americas Inc. increased its stake in shares of Skechers U.S.A. by 23.6% during the 1st quarter. UBS Asset Management Americas Inc. now owns 86,746 shares of the textile maker’s stock valued at $2,381,000 after acquiring an additional 16,578 shares during the last quarter. Sei Investments Co. increased its stake in shares of Skechers U.S.A. by 9.6% during the 1st quarter. Sei Investments Co. now owns 17,407 shares of the textile maker’s stock valued at $477,000 after acquiring an additional 1,520 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Skechers U.S.A. by 301.5% during the 1st quarter. JPMorgan Chase & Co. now owns 403,556 shares of the textile maker’s stock valued at $11,079,000 after acquiring an additional 303,040 shares during the last quarter. Finally, Credit Agricole S A increased its stake in shares of Skechers U.S.A. by 14.5% during the 1st quarter. Credit Agricole S A now owns 34,106 shares of the textile maker’s stock valued at $936,000 after acquiring an additional 4,313 shares during the last quarter. 70.52% of the stock is owned by institutional investors.

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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