Skechers USA (SKX) Receives Buy Rating from Susquehanna Bancshares

Susquehanna Bancshares reaffirmed their buy rating on shares of Skechers USA (NYSE:SKX) in a research note published on Monday. They currently have a $46.00 target price on the textile maker’s stock.

Several other research firms also recently weighed in on SKX. Monness Crespi & Hardt boosted their target price on shares of Skechers USA from $34.00 to $40.00 and gave the stock a buy rating in a research report on Friday. Vetr raised shares of Skechers USA from a hold rating to a buy rating and set a $37.55 target price on the stock in a research report on Tuesday, November 28th. Zacks Investment Research raised shares of Skechers USA from a sell rating to a hold rating and set a $38.00 price objective on the stock in a report on Monday, October 23rd. Finally, Cowen reaffirmed a buy rating and issued a $35.00 price objective on shares of Skechers USA in a report on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $36.46.

Skechers USA (SKX) traded down $0.27 during midday trading on Monday, hitting $35.18. 4,130,800 shares of the company traded hands, compared to its average volume of 2,813,643. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.30 and a current ratio of 3.46. The company has a market cap of $5,617.76, a price-to-earnings ratio of 22.02, a PEG ratio of 1.49 and a beta of 0.15. Skechers USA has a 1 year low of $22.31 and a 1 year high of $36.43.

Skechers USA (NYSE:SKX) last posted its quarterly earnings data on Thursday, October 19th. The textile maker reported $0.59 EPS for the quarter, topping the consensus estimate of $0.43 by $0.16. The firm 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%. Skechers USA’s revenue was up 16.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.42 EPS. analysts anticipate that Skechers USA will post 1.71 EPS for the current year.

In related news, President Michael Greenberg sold 150,000 shares of the business’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $31.86, for a total value of $4,779,000.00. Following the completion of the transaction, the president now directly owns 251,679 shares in the company, valued at approximately $8,018,492.94. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jeffrey Greenberg sold 75,000 shares of the business’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $35.16, for a total transaction of $2,637,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 461,250 shares of company stock valued at $14,955,008. Company insiders own 38.20% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of SKX. Seven Eight Capital LP acquired a new position in Skechers USA during the second quarter worth $105,000. Aviance Capital Management LLC acquired a new position in Skechers USA during the second quarter worth $109,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Skechers USA by 12.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,594 shares of the textile maker’s stock worth $136,000 after acquiring an additional 503 shares during the period. PNC Financial Services Group Inc. raised its position in Skechers USA by 6.6% during the second quarter. PNC Financial Services Group Inc. now owns 5,428 shares of the textile maker’s stock worth $161,000 after acquiring an additional 335 shares during the period. Finally, Intact Investment Management Inc. acquired a new position in Skechers USA during the second quarter worth $206,000. Hedge funds and other institutional investors own 70.13% of the company’s stock.

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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.

Analyst Recommendations for Skechers USA (NYSE:SKX)

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