SKX has been the topic of a number of other reports. Vetr upgraded shares of Skechers USA from a sell rating to a strong-buy rating and set a $49.62 price objective on the stock in a research note on Tuesday, June 7th. Monness Crespi & Hardt downgraded shares of 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. B. Riley reiterated a buy rating and set a $32.00 price objective on shares of Skechers USA in a research note on Monday, July 25th. Argus downgraded shares of Skechers USA from a buy rating to a hold rating in a research note on Monday, August 1st. Finally, Morgan Stanley downgraded shares of Skechers USA from an overweight rating to an equal weight rating and reduced their price objective for the stock from $41.00 to $25.00 in a research note on Wednesday, September 21st. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $30.37.
Shares of Skechers USA (NYSE:SKX) opened at 21.91 on Friday. The company has a market capitalization of $3.46 billion, a P/E ratio of 12.66 and a beta of 0.32. Skechers USA has a 1-year low of $20.90 and a 1-year high of $49.28. The company’s 50 day moving average is $23.83 and its 200-day moving average is $28.20.
Skechers USA (NYSE:SKX) last released its quarterly earnings results 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 business had revenue of $877.80 million for the quarter, compared to the consensus estimate of $892.06 million. During the same period in the prior year, the business posted $0.52 earnings per share. On average, equities research analysts forecast that Skechers USA will post $1.80 EPS for the current year.
In other Skechers USA news, General Counsel Phillip Paccione sold 1,389 shares of the firm’s stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $24.12, for a total transaction of $33,502.68. Following the completion of the transaction, 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 can be accessed through the SEC website. Company insiders own 21.73% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Glenmede Trust Co. NA bought a new stake in Skechers USA during the second quarter valued at $117,000. US Bancorp DE raised 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 valued at $155,000 after buying an additional 1,635 shares in the last quarter. PNC Financial Services Group Inc. raised 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 valued at $192,000 after buying an additional 1,079 shares in the last quarter. Ancora Advisors LLC bought a new stake in Skechers USA during the second quarter valued at $208,000. Finally, Ontario Teachers Pension Plan Board bought a new stake in Skechers USA during the second quarter valued at $210,000. Hedge funds and other institutional investors own 65.70% of the company’s stock.
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.
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