Shares of Skechers USA Inc (NYSE:SKX) have been assigned a consensus recommendation of “Hold” from the seventeen analysts that are covering the stock, Marketbeat reports. Three analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $39.10.
A number of research analysts have recently commented on the stock. OTR Global raised shares of Skechers USA from a “mixed” rating to a “positive” rating in a research report on Thursday, July 11th. Wells Fargo & Co set a $40.00 price objective on shares of Skechers USA and gave the company a “hold” rating in a research report on Friday, July 19th. ValuEngine lowered shares of Skechers USA from a “hold” rating to a “sell” rating in a research report on Friday, August 16th. Wedbush raised shares of Skechers USA from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $31.00 to $46.00 in a research report on Friday, July 19th. Finally, Monness Crespi & Hardt reaffirmed a “buy” rating and set a $42.00 price objective (up previously from $35.00) on shares of Skechers USA in a research report on Friday, July 19th. They noted that the move was a valuation call.
Shares of SKX traded up $0.70 during trading hours on Wednesday, reaching $31.10. 1,544,110 shares of the company traded hands, compared to its average volume of 2,335,339. The stock’s fifty day moving average is $34.72 and its 200 day moving average is $32.25. The stock has a market cap of $4.86 billion, a P/E ratio of 16.20, a price-to-earnings-growth ratio of 0.94 and a beta of 0.78. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.65 and a current ratio of 2.51. Skechers USA has a 1-year low of $21.45 and a 1-year high of $40.50.
Skechers USA (NYSE:SKX) last announced its quarterly earnings data on Thursday, July 18th. The textile maker reported $0.49 EPS for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.16. The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.23 billion. Skechers USA had a net margin of 6.72% and a return on equity of 14.59%. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.29 earnings per share. On average, equities research analysts predict that Skechers USA will post 2.25 EPS for the current year.
In other news, Director Richard Rappaport sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $31.29, for a total transaction of $93,870.00. Following the completion of the sale, the director now owns 23,000 shares of the company’s stock, valued at $719,670. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jeffrey Greenberg sold 90,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $37.72, for a total transaction of $3,394,800.00. The disclosure for this sale can be found here. Insiders sold 184,500 shares of company stock valued at $7,079,925 in the last three months. Company insiders own 28.08% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of SKX. AQR Capital Management LLC increased its holdings in shares of Skechers USA by 120.9% during the second quarter. AQR Capital Management LLC now owns 3,891,267 shares of the textile maker’s stock worth $121,213,000 after buying an additional 2,129,743 shares in the last quarter. Norges Bank acquired a new stake in shares of Skechers USA during the fourth quarter worth approximately $29,796,000. Balyasny Asset Management LLC acquired a new stake in shares of Skechers USA during the second quarter worth approximately $37,073,000. APG Asset Management N.V. acquired a new stake in shares of Skechers USA during the second quarter worth approximately $15,811,000. Finally, Maverick Capital Ltd. acquired a new stake in shares of Skechers USA during the second quarter worth approximately $16,723,000. 73.97% of the stock is owned by institutional investors.
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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