Shares of Skechers USA Inc. (NYSE:SKX) have been assigned a consensus recommendation of “Buy” from the nineteen ratings firms that are currently covering the company. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $26.91.
A number of research analysts have recently commented on SKX shares. 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 report on Friday, September 30th. Morgan Stanley cut shares of Skechers USA from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $41.00 to $25.00 in a report on Wednesday, September 21st. Citigroup Inc. reissued a “buy” rating and issued a $38.00 target price on shares of Skechers USA in a report on Tuesday, August 23rd. Vetr raised shares of Skechers USA from a “hold” rating to a “buy” rating and set a $34.68 target price for the company in a report on Tuesday, July 19th. Finally, Zacks Investment Research downgraded Skechers USA from a “hold” rating to a “sell” rating in a research note on Monday, June 27th.
In related news, General Counsel Phillip Paccione sold 1,389 shares of the stock in a transaction 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 transaction, the general counsel now directly 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 is available through the SEC website. 21.73% of the stock is owned by corporate insiders.
Several institutional investors have recently modified their holdings of SKX. Aperio Group LLC boosted its position in shares of Skechers USA by 39.1% in the first quarter. Aperio Group LLC now owns 29,162 shares of the company’s stock valued at $888,000 after buying an additional 8,190 shares during the period. Prudential Financial Inc. boosted its position in shares of Skechers USA by 109.2% in the first quarter. Prudential Financial Inc. now owns 261,462 shares of the company’s stock valued at $7,961,000 after buying an additional 136,470 shares during the period. BlackRock Inc. boosted its position in shares of Skechers USA by 29.9% in the first quarter. BlackRock Inc. now owns 60,051 shares of the company’s stock valued at $1,829,000 after buying an additional 13,840 shares during the period. BlackRock Group LTD boosted its position in shares of 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, BlackRock Institutional Trust Company N.A. boosted its position in shares of Skechers USA by 0.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,832,942 shares of the company’s stock valued at $116,713,000 after buying an additional 25,636 shares during the period. Institutional investors own 65.73% of the company’s stock.
Skechers USA (NYSE:SKX) opened at 22.83 on Wednesday. The company has a market cap of $3.60 billion, a price-to-earnings ratio of 13.19 and a beta of 0.15. Skechers USA has a 52 week low of $20.90 and a 52 week high of $49.28. The firm has a 50-day moving average of $23.19 and a 200-day moving average of $27.55.
Skechers USA (NYSE:SKX) last posted its 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. The company earned $877.80 million during the quarter, compared to the consensus estimate of $892.06 million. Skechers USA had a return on equity of 20.20% and a net margin of 7.79%. During the same period last year, the company posted $0.52 EPS. Equities analysts forecast that Skechers USA will post $1.80 earnings per share 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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