Skechers USA (NYSE:SKX) had its price objective hoisted by Citigroup from $34.00 to $45.00 in a research report sent to investors on Wednesday morning, MarketBeat.com reports. They currently have a buy rating on the textile maker’s stock.

SKX has been the subject of several other reports. Wells Fargo & Co upped their price objective on Skechers USA from $33.00 to $36.00 and gave the company a market perform rating in a research note on Friday, October 20th. Cowen reaffirmed a buy rating and set a $35.00 price objective on shares of Skechers USA in a research note on Friday, October 27th. Argus raised Skechers USA from a hold rating to a buy rating in a research note on Friday, December 15th. Susquehanna Bancshares reaffirmed a buy rating and set a $46.00 price objective on shares of Skechers USA in a research note on Monday, December 4th. Finally, B. Riley set a $37.00 price objective on Skechers USA and gave the company a buy rating in a research note on Friday, October 20th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $38.55.

Shares of Skechers USA (NYSE:SKX) opened at $40.37 on Wednesday. Skechers USA has a fifty-two week low of $22.31 and a fifty-two week high of $40.45. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.46 and a quick ratio of 2.30. The firm has a market capitalization of $6,397.43, a PE ratio of 25.07, a PEG ratio of 1.32 and a beta of 0.15.

Skechers USA (NYSE:SKX) last posted its earnings results on Thursday, October 19th. The textile maker reported $0.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.16. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.07 billion. Skechers USA had a return on equity of 13.70% and a net margin of 6.38%. The business’s quarterly revenue was up 16.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.42 EPS. analysts anticipate that Skechers USA will post 1.71 earnings per share for the current fiscal year.

In other Skechers USA news, Director Jeffrey Greenberg sold 30,000 shares of the business’s 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 accessible through this hyperlink. Also, CEO Robert Greenberg sold 500,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $37.66, for a total value of $18,830,000.00. Following the transaction, the chief executive officer now owns 267,713 shares in the company, valued at approximately $10,082,071.58. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 786,250 shares of company stock valued at $28,248,288. 21.73% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Skechers USA by 5.0% during the 2nd quarter. Vanguard Group Inc. now owns 10,543,894 shares of the textile maker’s stock worth $311,045,000 after purchasing an additional 500,360 shares during the period. State Street Corp increased its position in Skechers USA by 47.2% during the 2nd quarter. State Street Corp now owns 5,031,124 shares of the textile maker’s stock worth $148,423,000 after purchasing an additional 1,613,977 shares during the period. Dimensional Fund Advisors LP increased its position in Skechers USA by 9.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,844,216 shares of the textile maker’s stock worth $54,403,000 after purchasing an additional 162,641 shares during the period. Boston Partners increased its position in Skechers USA by 2.6% during the 3rd quarter. Boston Partners now owns 1,604,706 shares of the textile maker’s stock worth $40,262,000 after purchasing an additional 41,403 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Skechers USA by 1.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,548,759 shares of the textile maker’s stock worth $38,859,000 after purchasing an additional 19,722 shares during the period. Institutional investors own 70.12% of the company’s stock.

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Skechers USA 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.

Analyst Recommendations for Skechers USA (NYSE:SKX)

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