Skechers USA (SKX) PT Set at $30.00 by Wells Fargo & Co

Skechers USA (NYSE:SKX) has been given a $30.00 price target by equities research analysts at Wells Fargo & Co in a report issued on Friday. The firm currently has a “hold” rating on the textile maker’s stock. Wells Fargo & Co’s target price indicates a potential upside of 0.94% from the stock’s current price.

SKX has been the subject of a number of other reports. B. Riley set a $45.00 price target on Skechers USA and gave the stock a “buy” rating in a research note on Friday. Buckingham Research decreased their price target on Skechers USA from $35.00 to $30.00 and set a “buy” rating for the company in a research note on Wednesday. OTR Global downgraded Skechers USA to a “positive” rating in a research note on Tuesday, October 9th. Citigroup downgraded Skechers USA from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 2nd. Finally, Cowen downgraded Skechers USA from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $32.00 to $28.00 in a research note on Thursday, September 20th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $35.29.

Shares of Skechers USA stock traded up $3.60 during trading hours on Friday, hitting $29.72. 16,663,800 shares of the company’s stock traded hands, compared to its average volume of 3,092,796. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.28 and a quick ratio of 2.14. The company has a market capitalization of $4.25 billion, a PE ratio of 16.70, a P/E/G ratio of 1.55 and a beta of 0.36. Skechers USA has a twelve month low of $23.80 and a twelve month high of $43.08.

Skechers USA (NYSE:SKX) last announced its earnings results on Thursday, October 18th. The textile maker reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.07. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.22 billion. Skechers USA had a return on equity of 14.17% and a net margin of 4.24%. The company’s revenue was up 7.5% on a year-over-year basis. During the same period last year, the firm earned $0.59 earnings per share. On average, equities analysts expect that Skechers USA will post 1.72 earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of the stock. Cornerstone Wealth Management LLC acquired a new position in Skechers USA in the third quarter worth about $201,000. Empowered Funds LLC bought a new position in Skechers USA in the third quarter worth about $3,003,000. Empirical Finance LLC bought a new position in Skechers USA in the third quarter worth about $1,485,000. Oakbrook Investments LLC bought a new position in Skechers USA in the third quarter worth about $397,000. Finally, Malaga Cove Capital LLC bought a new position in Skechers USA in the third quarter worth about $482,000. Institutional investors and hedge funds own 70.90% of the company’s stock.

Skechers USA Company Profile

Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children; and performance footwear for men and women under the Skechers GO brand worldwide. It operates through three segments: Domestic Wholesale Sales, International Wholesale Sales, and Retail Sales. The company offers casual boots, shoes, and sandals for men; shoes, oxfords and slip-ons, lug outsole and fashion boots, and casual sandals for women; dress casuals, seasonal sandals and boots, classic and wide fit, and relaxed fit casuals for men and women; and casual athletic line for men and women under the Skechers USA brand.

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Analyst Recommendations for Skechers USA (NYSE:SKX)

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