OTR Global upgraded shares of Skechers USA (NYSE:SKX) from a mixed rating to a positive rating in a research report released on Thursday, The Fly reports.
SKX has been the subject of several other research reports. Susquehanna Bancshares raised shares of Skechers USA from a neutral rating to a positive rating and upped their price objective for the company from $32.00 to $37.00 in a research note on Wednesday, March 27th. B. Riley reissued a buy rating on shares of Skechers USA in a research note on Friday, April 26th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. Skechers USA has a consensus rating of Hold and a consensus target price of $32.33.
Shares of NYSE SKX opened at $34.11 on Thursday. Skechers USA has a 12-month low of $21.45 and a 12-month high of $35.66. The stock has a market cap of $5.30 billion, a PE ratio of 17.77, a PEG ratio of 2.38 and a beta of 0.72. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.00 and a current ratio of 2.91. The company’s 50-day simple moving average is $30.65.
Skechers USA (NYSE:SKX) last announced its quarterly earnings data on Thursday, April 18th. The textile maker reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.01). Skechers USA had a net margin of 6.26% and a return on equity of 13.56%. The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same period in the prior year, the company posted $0.75 EPS. The firm’s revenue was up 2.1% on a year-over-year basis. On average, research analysts anticipate that Skechers USA will post 2.02 earnings per share for the current fiscal year.
In related news, President Michael Greenberg sold 22,689 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $31.17, for a total transaction of $707,216.13. Following the completion of the transaction, the president now owns 534,269 shares of the company’s stock, valued at approximately $16,653,164.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey Greenberg sold 29,769 shares of the stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $35.00, for a total transaction of $1,041,915.00. The disclosure for this sale can be found here. Insiders have sold a total of 122,459 shares of company stock valued at $3,942,371 in the last ninety days. 28.08% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in Skechers USA by 1.1% during the 1st quarter. BlackRock Inc. now owns 11,671,591 shares of the textile maker’s stock worth $392,282,000 after buying an additional 128,330 shares in the last quarter. Boston Partners lifted its holdings in Skechers USA by 5.1% during the 1st quarter. Boston Partners now owns 2,056,345 shares of the textile maker’s stock worth $69,114,000 after buying an additional 100,685 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Skechers USA by 6.1% during the 4th quarter. Geode Capital Management LLC now owns 1,369,816 shares of the textile maker’s stock worth $31,355,000 after buying an additional 79,002 shares in the last quarter. Norges Bank acquired a new stake in Skechers USA during the 4th quarter worth approximately $29,796,000. Finally, Millennium Management LLC lifted its holdings in Skechers USA by 244.7% during the 4th quarter. Millennium Management LLC now owns 1,225,870 shares of the textile maker’s stock worth $28,060,000 after buying an additional 870,212 shares in the last quarter. Institutional investors own 76.46% of the company’s stock.
About Skechers USA
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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