Shares of Skechers USA Inc (NYSE:SKX) have earned an average recommendation of “Buy” from the seventeen ratings firms that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $38.55.
A number of brokerages have recently issued reports on SKX. Zacks Investment Research raised shares of Skechers USA from a “sell” rating to a “hold” rating and set a $38.00 price target on the stock in a report on Monday, October 23rd. Vetr downgraded shares of Skechers USA from a “buy” rating to a “hold” rating and set a $37.55 price target on the stock. in a report on Monday, December 11th. Cowen set a $42.00 price target on shares of Skechers USA and gave the stock a “buy” rating in a report on Monday, December 11th. Wedbush raised shares of Skechers USA from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $24.03 to $35.00 in a report on Friday, October 20th. Finally, Buckingham Research reissued a “buy” rating and issued a $32.00 price target (down from $34.00) on shares of Skechers USA in a report on Monday, September 25th.
Skechers USA (NYSE SKX) traded up $0.75 during midday trading on Tuesday, reaching $40.37. 1,934,225 shares of the company’s stock traded hands, compared to its average volume of 1,333,727. The stock has a market capitalization of $6,397.43, a P/E ratio of 25.07, a PEG ratio of 1.32 and a beta of 0.15. Skechers USA has a 1-year low of $22.31 and a 1-year high of $40.45. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.30 and a current ratio of 3.46.
In related news, Director Richard Siskind sold 25,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $33.40, for a total value of $851,700.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, President Michael Greenberg sold 150,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $31.86, for a total transaction of $4,779,000.00. Following the completion of 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 786,250 shares of company stock worth $28,248,288 over the last ninety days. 21.73% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Seven Eight Capital LP purchased a new stake in Skechers USA in the second quarter valued at approximately $105,000. Aviance Capital Management LLC purchased a new stake in Skechers USA in the second quarter valued at approximately $109,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Skechers USA by 12.3% in 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 in the last quarter. PNC Financial Services Group Inc. raised its stake in Skechers USA by 6.6% in 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 in the last quarter. Finally, Private Advisor Group LLC raised its stake in Skechers USA by 10.0% in the second quarter. Private Advisor Group LLC now owns 8,751 shares of the textile maker’s stock valued at $254,000 after purchasing an additional 798 shares in the last quarter. 70.12% of the stock is currently owned by institutional investors and hedge funds.
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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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