Shares of Skechers USA Inc (NYSE:SKX) have been assigned an average rating of “Buy” from the seventeen research firms that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $38.55.
SKX has been the topic of a number of recent analyst reports. Cowen restated a “buy” rating and issued a $35.00 price target on shares of Skechers USA in a research report on Friday, October 27th. B. Riley set a $37.00 price target on Skechers USA and gave the stock a “buy” rating in a research report on Friday, October 20th. Morgan Stanley raised their price target on Skechers USA from $28.50 to $31.00 and gave the stock an “equal weight” rating in a research report on Friday, October 20th. Zacks Investment Research cut Skechers USA from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. Finally, Vetr cut Skechers USA from a “strong-buy” rating to a “hold” rating and set a $33.73 price target on the stock. in a research report on Monday, October 23rd.
In other Skechers USA news, Director Richard Siskind sold 25,500 shares of Skechers USA stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $33.40, for a total value of $851,700.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Morton D. Erlich sold 4,000 shares of Skechers USA stock in a transaction dated Thursday, November 22nd. The shares were sold at an average price of $33.66, for a total value of $134,640.00. Following the completion of 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 sold 786,250 shares of company stock worth $28,248,288 in the last 90 days. 21.73% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue bought a new position in Skechers USA in the fourth quarter valued at about $321,000. Oakbrook Investments LLC grew its position in Skechers USA by 17.2% in the fourth quarter. Oakbrook Investments LLC now owns 11,730 shares of the textile maker’s stock valued at $444,000 after acquiring an additional 1,720 shares during the last quarter. Acadian Asset Management LLC bought a new position in Skechers USA in the fourth quarter valued at about $5,508,000. CAPROCK Group Inc. bought a new position in Skechers USA in the fourth quarter valued at about $283,000. Finally, Schwab Charles Investment Management Inc. grew its position in Skechers USA by 6.0% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 803,955 shares of the textile maker’s stock valued at $30,422,000 after acquiring an additional 45,757 shares during the last quarter. Hedge funds and other institutional investors own 70.12% of the company’s stock.
Skechers USA (NYSE:SKX) traded up $0.75 on Tuesday, hitting $40.37. The stock had a trading volume of 1,936,358 shares, compared to its average volume of 1,670,000. Skechers USA has a 12 month low of $22.31 and a 12 month high of $40.45. The company has a quick ratio of 2.30, a current ratio of 3.46 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $6,400.00, a P/E ratio of 24.92, a P/E/G ratio of 1.27 and a beta of 0.14.
Skechers USA (NYSE:SKX) last posted its earnings results on Thursday, October 19th. The textile maker reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.16. Skechers USA had a return on equity of 13.70% and a net margin of 6.38%. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the firm earned $0.42 earnings per share. The company’s revenue was up 16.2% on a year-over-year basis. sell-side analysts expect that Skechers USA will post 1.71 EPS for the current year.
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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