Skechers USA Inc. (NYSE:SKX) has been given an average rating of “Buy” by the nineteen analysts that are currently covering the company. Seven investment analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $27.58.
A number of research firms have issued reports on SKX. B. Riley reissued a “buy” rating and issued a $32.00 target price on shares of Skechers USA in a research note on Monday, July 25th. Zacks Investment Research cut Skechers USA from a “hold” rating to a “sell” rating in a research note on Monday, June 27th. Vetr raised Skechers USA from a “hold” rating to a “buy” rating and set a $34.68 target price for the company in a research note on Tuesday, July 19th. Cowen and Company set a $24.00 target price on Skechers USA and gave the company a “hold” rating in a research note on Thursday, September 22nd. Finally, Susquehanna raised Skechers USA from a “neutral” rating to a “positive” rating and set a $27.00 target price for the company in a research note on Friday, September 30th.
In other news, General Counsel Phillip Paccione sold 1,389 shares of the company’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $24.12, for a total value of $33,502.68. Following the transaction, the general counsel now owns 90,445 shares of the company’s stock, valued at $2,181,533.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 21.73% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the stock. Capital Growth Management LP purchased a new position in Skechers USA during the second quarter valued at approximately $62,115,000. Fiera Capital Corp increased its position in Skechers USA by 10,690.6% in the second quarter. Fiera Capital Corp now owns 1,898,281 shares of the company’s stock valued at $56,417,000 after buying an additional 1,880,689 shares during the last quarter. Scout Investments Inc. purchased a new position in Skechers USA during the second quarter valued at approximately $33,603,000. Norges Bank purchased a new position in Skechers USA during the fourth quarter valued at approximately $31,971,000. Finally, Prudential Financial Inc. increased its position in Skechers USA by 229.7% in the second quarter. Prudential Financial Inc. now owns 862,012 shares of the company’s stock valued at $25,619,000 after buying an additional 600,550 shares during the last quarter. 65.70% of the stock is currently owned by institutional investors.
Shares of Skechers USA (NYSE:SKX) opened at 23.04 on Thursday. The stock has a market capitalization of $3.64 billion, a P/E ratio of 13.31 and a beta of 0.15. The stock’s 50 day moving average price is $23.44 and its 200-day moving average price is $27.71. Skechers USA has a 1-year low of $20.90 and a 1-year high of $49.28.
Skechers USA (NYSE:SKX) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by $0.02. Skechers USA had a return on equity of 20.20% and a net margin of 7.79%. The company had revenue of $877.80 million for the quarter, compared to analyst estimates of $892.06 million. During the same period last year, the firm earned $0.52 earnings per share. Equities research analysts anticipate that Skechers USA will post $1.80 EPS for the current fiscal year.
About Skechers USA
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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