Shares of Skechers USA Inc (NYSE:SKX) have been given an average recommendation of “Buy” by the sixteen analysts that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation, eleven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $42.77.
SKX has been the topic of several recent analyst reports. Vetr raised shares of Skechers USA from a “sell” rating to a “hold” rating and set a $39.03 price target on the stock in a research note on Monday, February 19th. Argus raised shares of Skechers USA from a “hold” rating to a “buy” rating in a research note on Friday, December 15th. Wedbush reaffirmed a “buy” rating and issued a $45.00 price target (up previously from $39.00) on shares of Skechers USA in a research note on Wednesday, January 3rd. Citigroup raised their price target on shares of Skechers USA from $34.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Finally, Cowen set a $42.00 price target on shares of Skechers USA and gave the stock a “buy” rating in a research note on Monday, December 18th.
In other news, EVP Mark A. Nason sold 16,701 shares of the firm’s stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $40.34, for a total value of $673,718.34. Following the sale, the executive vice president now directly owns 65,453 shares in the company, valued at approximately $2,640,374.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert Greenberg sold 37,814 shares of the firm’s stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $40.34, for a total transaction of $1,525,416.76. Following the completion of the sale, the chief executive officer now owns 704,397 shares in the company, valued at $28,415,374.98. The disclosure for this sale can be found here. Insiders have sold a total of 95,286 shares of company stock worth $3,804,003 in the last three months. Insiders own 21.73% of the company’s stock.
SKX stock traded up $0.05 during trading on Friday, hitting $41.07. The company had a trading volume of 592,871 shares, compared to its average volume of 2,041,332. The company has a market capitalization of $6,410.20, a PE ratio of 22.48, a P/E/G ratio of 1.16 and a beta of 0.31. Skechers USA has a 52-week low of $22.64 and a 52-week high of $42.73. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.52 and a quick ratio of 2.06.
Skechers USA (NYSE:SKX) last posted its quarterly earnings results on Thursday, February 8th. The textile maker reported $0.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.08. The company had revenue of $970.59 million for the quarter, compared to the consensus estimate of $881.39 million. Skechers USA had a net margin of 4.30% and a return on equity of 14.63%. The firm’s revenue was up 27.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.04 EPS. sell-side analysts forecast that Skechers USA will post 2.3 EPS for the current fiscal year.
Skechers USA declared that its board has approved a share repurchase plan on Thursday, February 8th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the textile maker to buy shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.
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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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