Skechers USA Inc (NYSE:SKX) has received a consensus rating of “Buy” from the eighteen analysts that are currently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $41.29.
SKX has been the subject of several research analyst reports. Vetr upgraded Skechers USA from a “buy” rating to a “strong-buy” rating and set a $34.87 price target for the company in a research report on Monday, November 13th. Monness Crespi & Hardt increased their price objective on Skechers USA from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, December 1st. Susquehanna Bancshares reiterated a “buy” rating and issued a $46.00 price objective on shares of Skechers USA in a research note on Monday, December 4th. Cowen set a $42.00 price objective on Skechers USA and gave the company a “buy” rating in a research note on Monday, December 11th. Finally, Argus upgraded Skechers USA from a “hold” rating to a “buy” rating in a research note on Friday, December 15th.
In other news, CEO Robert Greenberg sold 500,000 shares of Skechers USA stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $37.66, for a total transaction of $18,830,000.00. Following the sale, the chief executive officer now owns 267,713 shares in the company, valued at $10,082,071.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard Rappaport sold 1,000 shares of the firm’s stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $38.24, for a total value of $38,240.00. Following the transaction, the director now directly owns 19,000 shares in the company, valued at approximately $726,560. The disclosure for this sale can be found here. Insiders have sold 501,156 shares of company stock worth $18,874,792 in the last quarter. Insiders own 21.73% of the company’s stock.
Shares of Skechers USA (SKX) traded up $0.61 during trading on Wednesday, reaching $41.38. The company had a trading volume of 1,387,773 shares, compared to its average volume of 2,631,830. Skechers USA has a 52 week low of $22.64 and a 52 week high of $42.73. The stock has a market capitalization of $6,460.82, a price-to-earnings ratio of 36.30, a price-to-earnings-growth ratio of 1.18 and a beta of 0.24. The company has a quick ratio of 2.06, a current ratio of 3.52 and a debt-to-equity ratio of 0.04.
Skechers USA (NYSE:SKX) last released its quarterly earnings results on Thursday, February 8th. The textile maker reported $0.21 EPS for the quarter, topping the consensus estimate of $0.13 by $0.08. Skechers USA had a return on equity of 14.63% and a net margin of 4.30%. The business had revenue of $970.59 million during the quarter, compared to analyst estimates of $881.39 million. During the same period last year, the business posted $0.04 earnings per share. The company’s quarterly revenue was up 27.0% on a year-over-year basis. equities research analysts predict that Skechers USA will post 2.3 earnings per share for the current fiscal year.
Skechers USA announced that its board has approved a share buyback program on Thursday, February 8th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the textile maker to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.
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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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