Skechers U.S.A., Inc. (NYSE:SKX)‘s stock had its “buy” rating reaffirmed by analysts at Cowen and Company in a research report issued on Friday, November 3rd. They presently have a $38.00 target price on the textile maker’s stock. Cowen and Company’s price target indicates a potential upside of 17.49% from the stock’s current price.
SKX has been the topic of several other research reports. Wells Fargo & Company increased their target price on Skechers U.S.A. from $33.00 to $36.00 and gave the company a “market perform” rating in a research note on Friday, October 20th. BidaskClub lowered Skechers U.S.A. from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. OTR Global raised Skechers U.S.A. from a “mixed” rating to a “positive” rating in a research report on Tuesday, July 18th. B. Riley set a $37.00 price target on Skechers U.S.A. and gave the stock a “buy” rating in a research report on Friday, October 20th. Finally, Buckingham Research set a $36.00 price target on Skechers U.S.A. and gave the stock a “buy” rating in a research report on Friday, October 20th. Two analysts have rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $34.74.
Skechers U.S.A. (SKX) opened at $32.34 on Friday. The stock has a market capitalization of $5,120.00, a PE ratio of 19.88, a P/E/G ratio of 1.36 and a beta of 0.11. Skechers U.S.A. has a 1-year low of $21.33 and a 1-year high of $34.87. The company has a quick ratio of 2.30, a current ratio of 3.46 and a debt-to-equity ratio of 0.04.
Skechers U.S.A. (NYSE:SKX) last posted its quarterly earnings results on Thursday, October 19th. The textile maker reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.16. Skechers U.S.A. had a return on equity of 13.70% and a net margin of 6.38%. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter last year, the business earned $0.42 earnings per share. The firm’s quarterly revenue was up 16.2% compared to the same quarter last year. equities analysts forecast that Skechers U.S.A. will post 1.69 EPS for the current year.
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In related news, General Counsel Phillip Paccione sold 1,004 shares of Skechers U.S.A. stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $27.24, for a total transaction of $27,348.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey Greenberg sold 180,000 shares of Skechers U.S.A. stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $31.72, for a total value of $5,709,600.00. The disclosure for this sale can be found here. Insiders have sold a total of 386,504 shares of company stock valued at $12,319,249 over the last quarter. 38.20% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. raised its holdings in Skechers U.S.A. by 3,136.5% in the 1st quarter. BlackRock Inc. now owns 11,190,173 shares of the textile maker’s stock valued at $307,170,000 after acquiring an additional 10,844,421 shares in the last quarter. Vanguard Group Inc. raised its holdings in Skechers U.S.A. by 5.0% in the 2nd quarter. Vanguard Group Inc. now owns 10,543,894 shares of the textile maker’s stock valued at $311,045,000 after acquiring an additional 500,360 shares in the last quarter. Amerigo Asset Management raised its holdings in Skechers U.S.A. by 38.2% in the 2nd quarter. Amerigo Asset Management now owns 6,134,253 shares of the textile maker’s stock valued at $180,960,000 after acquiring an additional 1,694,253 shares in the last quarter. State Street Corp raised its holdings in Skechers U.S.A. by 47.2% in the 2nd quarter. State Street Corp now owns 5,031,124 shares of the textile maker’s stock valued at $148,423,000 after acquiring an additional 1,613,977 shares in the last quarter. Finally, Prudential Financial Inc. raised its holdings in Skechers U.S.A. by 125.7% in the 2nd quarter. Prudential Financial Inc. now owns 2,302,352 shares of the textile maker’s stock valued at $67,919,000 after acquiring an additional 1,282,260 shares in the last quarter. 70.10% of the stock is owned by hedge funds and other institutional investors.
Skechers U.S.A. 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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