Skechers USA Inc. (SKX) Upgraded to Positive at Susquehanna
Several other analysts have also issued reports on the stock. Citigroup Inc. restated a buy rating and issued a $38.00 price target on shares of Skechers USA in a research report on Tuesday, August 23rd. Monness Crespi & Hardt lowered shares of Skechers USA from a buy rating to a neutral rating in a research report on Friday, July 22nd. They noted that the move was a valuation call. Morgan Stanley lowered shares of Skechers USA from an overweight rating to an equal weight rating and decreased their price target for the stock from $41.00 to $25.00 in a research report on Wednesday, September 21st. Argus lowered shares of Skechers USA from a buy rating to a hold rating in a research report on Monday, August 1st. Finally, Vetr upgraded shares of Skechers USA from a sell rating to a strong-buy rating and set a $49.62 price target on the stock in a research report on Tuesday, June 7th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Skechers USA has an average rating of Buy and an average target price of $30.37.
Shares of Skechers USA (NYSE:SKX) opened at 21.91 on Friday. Skechers USA has a 52 week low of $20.90 and a 52 week high of $49.28. The firm has a market cap of $3.46 billion, a price-to-earnings ratio of 12.66 and a beta of 0.32. The firm has a 50 day moving average of $23.83 and a 200 day moving average of $28.20.
Skechers USA (NYSE:SKX) last posted its quarterly earnings results on Thursday, July 21st. The company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by $0.02. The company earned $877.80 million during the quarter, compared to analyst estimates of $892.06 million. Skechers USA had a return on equity of 20.20% and a net margin of 7.79%. During the same quarter in the prior year, the business earned $0.52 earnings per share. Equities analysts predict that Skechers USA will post $1.80 earnings per share for the current fiscal year.
In other Skechers USA news, General Counsel Phillip Paccione sold 1,389 shares of the business’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $24.12, for a total value of $33,502.68. Following the completion of the transaction, the general counsel now directly owns 90,445 shares of the company’s stock, valued at $2,181,533.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 21.73% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the company. Glenmede Trust Co. NA acquired a new stake in Skechers USA during the second quarter worth $117,000. US Bancorp DE increased its stake in Skechers USA by 45.7% in the second quarter. US Bancorp DE now owns 5,211 shares of the company’s stock worth $155,000 after buying an additional 1,635 shares during the period. PNC Financial Services Group Inc. increased its stake in Skechers USA by 20.1% in the second quarter. PNC Financial Services Group Inc. now owns 6,442 shares of the company’s stock worth $192,000 after buying an additional 1,079 shares during the period. Ancora Advisors LLC acquired a new stake in Skechers USA during the second quarter worth $208,000. Finally, Ontario Teachers Pension Plan Board acquired a new stake in Skechers USA during the second quarter worth $210,000. 65.70% of the stock is owned by institutional investors and hedge funds.
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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