Skechers U.S.A., Inc. (SKX) Receives $34.43 Consensus Target Price from Brokerages
Shares of Skechers U.S.A., Inc. (NYSE:SKX) have earned an average recommendation of “Buy” from the sixteen brokerages that are currently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, four have given a hold recommendation and ten have given a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $34.70.
A number of equities research analysts have weighed in on SKX shares. Vetr downgraded Skechers U.S.A. from a “strong-buy” rating to a “hold” rating and set a $33.73 price target on the stock. in a research report on Monday, October 23rd. Susquehanna Bancshares Inc restated a “buy” rating and set a $34.00 price target on shares of Skechers U.S.A. in a research report on Tuesday, October 10th. Zacks Investment Research downgraded Skechers U.S.A. from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Citigroup Inc. raised their price target on Skechers U.S.A. from $30.00 to $34.00 and gave the company a “buy” rating in a research report on Friday, July 21st. Finally, Buckingham Research set a $34.00 price target on Skechers U.S.A. and gave the company a “buy” rating in a research report on Saturday, July 22nd.
Shares of Skechers U.S.A. (SKX) traded down $0.20 during mid-day trading on Thursday, hitting $31.06. The company had a trading volume of 3,479,836 shares, compared to its average volume of 4,370,000. The company has a quick ratio of 2.30, a current ratio of 3.46 and a debt-to-equity ratio of 0.04. Skechers U.S.A. has a one year low of $20.01 and a one year high of $34.87. The stock has a market capitalization of $4,860.00, a P/E ratio of 19.42, a PEG ratio of 1.32 and a beta of 0.11.
Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings data on Thursday, October 19th. The textile maker reported $0.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.16. Skechers U.S.A. had a return on equity of 13.70% and a net margin of 6.38%. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the business posted $0.42 earnings per share. The firm’s revenue was up 16.2% compared to the same quarter last year. sell-side analysts predict that Skechers U.S.A. will post 1.69 earnings per share for the current fiscal year.
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In other Skechers U.S.A. news, Director Jeffrey Greenberg sold 30,000 shares of Skechers U.S.A. stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $31.72, for a total transaction of $951,600.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Michael Greenberg sold 150,000 shares of Skechers U.S.A. stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $31.86, for a total value of $4,779,000.00. Following the sale, the president now directly owns 251,679 shares in the company, valued at $8,018,492.94. The disclosure for this sale can be found here. Insiders sold 386,504 shares of company stock worth $12,319,249 over the last three months. 38.20% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of the business. Alps Advisors Inc. boosted its position in Skechers U.S.A. by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 18,304 shares of the textile maker’s stock valued at $540,000 after acquiring an additional 47 shares in the last quarter. Utah Retirement Systems lifted its holdings in shares of Skechers U.S.A. by 1.3% during the second quarter. Utah Retirement Systems now owns 24,000 shares of the textile maker’s stock valued at $708,000 after purchasing an additional 300 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Skechers U.S.A. by 6.6% during the second quarter. PNC Financial Services Group Inc. now owns 5,428 shares of the textile maker’s stock valued at $161,000 after purchasing an additional 335 shares during the last quarter. Great West Life Assurance Co. Can lifted its holdings in shares of Skechers U.S.A. by 0.6% during the second quarter. Great West Life Assurance Co. Can now owns 80,310 shares of the textile maker’s stock valued at $2,367,000 after purchasing an additional 503 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Skechers U.S.A. by 12.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,594 shares of the textile maker’s stock valued at $136,000 after purchasing an additional 503 shares during the last quarter. 70.66% of the stock is currently owned by institutional investors and hedge funds.
Skechers U.S.A. Company Profile
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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