Skechers USA Inc (NYSE:SKX) has been given an average recommendation of “Hold” by the fourteen research firms that are presently covering the company. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $28.21.
SKX has been the subject of several recent research reports. Monness Crespi & Hardt raised Skechers USA from a “neutral” rating to a “buy” rating and increased their price target for the company from $26.13 to $30.00 in a report on Friday, December 23rd. Zacks Investment Research cut Skechers USA from a “hold” rating to a “sell” rating in a report on Thursday, January 5th. Wedbush raised their target price on Skechers USA from $23.00 to $25.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 25th. B. Riley reissued a “neutral” rating and set a $28.00 target price on shares of Skechers USA in a research note on Friday, February 10th. Finally, Vetr cut Skechers USA from a “strong-buy” rating to a “hold” rating and set a $27.88 target price for the company. in a research note on Monday, February 13th.
Shares of Skechers USA (NYSE:SKX) traded down 3.384% during midday trading on Monday, hitting $25.265. The stock had a trading volume of 7,978,626 shares. Skechers USA has a 12 month low of $18.81 and a 12 month high of $34.20. The stock’s 50 day moving average price is $26.55 and its 200 day moving average price is $24.59. The firm has a market cap of $4.00 billion, a price-to-earnings ratio of 16.092 and a beta of 0.30.
Skechers USA (NYSE:SKX) last posted its quarterly earnings results on Thursday, April 20th. The textile maker reported $0.60 EPS for the quarter, beating the consensus estimate of $0.55 by $0.05. Skechers USA had a return on equity of 15.10% and a net margin of 6.83%. The firm earned $1.07 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter last year, the firm earned $0.63 earnings per share. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, equities analysts forecast that Skechers USA will post $1.75 EPS for the current fiscal year.
In other news, Director Richard Rappaport sold 1,500 shares of Skechers USA stock in a transaction dated Wednesday, March 29th. The stock was sold at an average price of $27.90, for a total transaction of $41,850.00. Following the sale, the director now owns 21,500 shares in the company, valued at $599,850. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO David Weinberg sold 24,188 shares of Skechers USA stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $25.92, for a total value of $626,952.96. Following the sale, the chief operating officer now owns 244,188 shares in the company, valued at approximately $6,329,352.96. The disclosure for this sale can be found here. Insiders have sold a total of 63,608 shares of company stock valued at $1,678,372 over the last ninety days. 21.73% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of the company. Retirement Systems of Alabama boosted its stake in Skechers USA by 0.3% in the first quarter. Retirement Systems of Alabama now owns 172,700 shares of the textile maker’s stock worth $4,741,000 after buying an additional 523 shares during the period. Capital Impact Advisors LLC boosted its stake in Skechers USA by 15.3% in the first quarter. Capital Impact Advisors LLC now owns 55,204 shares of the textile maker’s stock worth $1,515,000 after buying an additional 7,308 shares during the period. Louisiana State Employees Retirement System boosted its stake in Skechers USA by 2.4% in the first quarter. Louisiana State Employees Retirement System now owns 33,800 shares of the textile maker’s stock worth $928,000 after buying an additional 800 shares during the period. Parametrica Management Ltd purchased a new stake in Skechers USA during the first quarter worth approximately $236,000. Finally, Capstone Asset Management Co. boosted its position in shares of Skechers USA by 0.9% in the first quarter. Capstone Asset Management Co. now owns 18,446 shares of the textile maker’s stock valued at $506,000 after buying an additional 160 shares during the period. Institutional investors and hedge funds own 61.40% of the company’s stock.
Skechers USA Company Profile
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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