Skechers USA Inc. (NYSE:SKX) Receives Consensus Rating of “Buy” from Analysts
Shares of Skechers USA Inc. (NYSE:SKX) have received an average rating of “Buy” from the nineteen analysts that are covering the company. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $27.58.
A number of analysts recently issued reports on the company. B. Riley reiterated a “buy” rating and set a $42.00 price objective on shares of Skechers USA in a research note on Tuesday, July 19th. Monness Crespi & Hardt lowered Skechers USA from a “buy” rating to a “neutral” rating in a research note on Friday, July 22nd. They noted that the move was a valuation call. Zacks Investment Research upgraded Skechers USA from a “sell” rating to a “hold” rating in a research note on Monday, July 18th. Standpoint Research assumed coverage on Skechers USA in a research note on Monday. They set a “buy” rating and a $30.00 price objective on the stock. Finally, Susquehanna assumed coverage on Skechers USA in a research note on Friday, August 12th. They set a “neutral” rating and a $27.00 price objective on the stock.
In other Skechers USA news, General Counsel Phillip Paccione sold 1,389 shares of the 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 completion of the sale, the general counsel now owns 90,445 shares in the company, valued at approximately $2,181,533.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. 21.73% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the company. Bank of Montreal Can acquired a new stake in Skechers USA during the second quarter valued at $14,762,000. State Street Corp boosted its stake in Skechers USA by 1.7% in the first quarter. State Street Corp now owns 3,551,897 shares of the company’s stock valued at $108,158,000 after buying an additional 59,148 shares during the period. Tower Research Capital LLC TRC boosted its stake in Skechers USA by 3.9% in the second quarter. Tower Research Capital LLC TRC now owns 9,966 shares of the company’s stock valued at $296,000 after buying an additional 377 shares during the period. BlackRock Group LTD boosted its stake in Skechers USA by 24.7% in the first quarter. BlackRock Group LTD now owns 128,575 shares of the company’s stock valued at $3,916,000 after buying an additional 25,449 shares during the period. Finally, Public Employees Retirement Association of Colorado boosted its stake in Skechers USA by 0.8% in the second quarter. Public Employees Retirement Association of Colorado now owns 31,113 shares of the company’s stock valued at $925,000 after buying an additional 244 shares during the period. Institutional investors and hedge funds own 65.70% of the company’s stock.
Shares of Skechers USA (NYSE:SKX) traded down 0.87% during mid-day trading on Thursday, hitting $22.82. The stock had a trading volume of 1,028,398 shares. Skechers USA has a 12 month low of $20.90 and a 12 month high of $49.28. The firm has a 50 day moving average price of $23.60 and a 200-day moving average price of $27.91. The stock has a market cap of $3.60 billion, a P/E ratio of 13.18 and a beta of 0.15.
Skechers USA (NYSE:SKX) last released its quarterly earnings data on Thursday, July 21st. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by $0.02. Skechers USA had a net margin of 7.79% and a return on equity of 20.20%. The company had revenue of $877.80 million for the quarter, compared to the consensus estimate of $892.06 million. During the same quarter in the previous year, the firm posted $0.52 earnings per share. On average, equities research analysts forecast that Skechers USA will post $1.80 EPS for the current 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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