A number of other equities analysts have also weighed in on the stock. Susquehanna raised shares of Skechers USA from a neutral rating to a positive rating and set a $27.00 target price for the company in a research note on Friday, September 30th. Cowen and Company set a $24.00 target price on shares of Skechers USA and gave the stock a hold rating in a research note on Thursday, September 22nd. Morgan Stanley lowered shares of Skechers USA from an overweight rating to an equal weight rating and reduced their target price for the stock from $41.00 to $25.00 in a research note on Wednesday, September 21st. Citigroup Inc. reaffirmed a buy rating and issued a $38.00 target price on shares of Skechers USA in a research note on Tuesday, August 23rd. Finally, Argus lowered shares of Skechers USA from a buy rating to a hold rating in a research note on Monday, August 1st. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $30.34.
Shares of Skechers USA (NYSE:SKX) opened at 22.87 on Monday. The stock has a 50 day moving average price of $23.56 and a 200 day moving average price of $27.87. The firm has a market capitalization of $3.61 billion, a P/E ratio of 13.21 and a beta of 0.15. Skechers USA has a 12 month low of $20.90 and a 12 month high of $49.28.
Skechers USA (NYSE:SKX) last announced 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. Skechers USA had a net margin of 7.79% and a return on equity of 20.20%. The firm earned $877.80 million during the quarter, compared to analyst estimates of $892.06 million. During the same period last year, the firm earned $0.52 EPS. On average, analysts expect that Skechers USA will post $1.80 earnings per share for the current year.
In related news, General Counsel Phillip Paccione sold 1,389 shares of the company’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 transaction, the general counsel now owns 90,445 shares in the company, valued at approximately $2,181,533.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 21.73% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Glenmede Trust Co. NA acquired a new position in shares of Skechers USA during the second quarter worth about $117,000. US Bancorp DE raised its position in shares of 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 last quarter. PNC Financial Services Group Inc. raised its position in shares of 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 last quarter. Ancora Advisors LLC acquired a new position in shares of Skechers USA during the second quarter worth about $208,000. Finally, Ontario Teachers Pension Plan Board acquired a new position in shares of Skechers USA during the second quarter worth about $210,000. Institutional investors and hedge funds own 65.70% of the company’s stock.
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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