Insider Selling: Richard Rappaport Sells 1,000 Shares of Skechers USA Stock (SKX)
Skechers USA (NYSE:SKX) Director Richard Rappaport unloaded 1,000 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $30.20, for a total value of $30,200.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $302,000. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Sterne Agee reiterated a “positive” rating on shares of Skechers USA (NYSE:SKX) in a research note to investors on Wednesday, August 21st. They now have a $36.00 price target on the stock, up previously from $33.00. Separately, analysts at Susquehanna cut their price target on shares of Skechers USA (NYSE:SKX) from $31.00 to $27.00 in a research note to investors on Monday, August 5th. Finally, analysts at Zacks upgraded shares of Skechers USA (NYSE:SKX) from a “neutral” rating to an “outperform” rating in a research note to investors on Wednesday, July 31st. They now have a $30.00 price target on the stock.
Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $29.40.
Skechers USA (NYSE:SKX) traded down 0.78% during mid-day trading on Tuesday, hitting $29.08. The stock had a trading volume of 565,746 shares. Skechers USA has a 1-year low of $15.18 and a 1-year high of $31.56. The stock’s 50-day moving average is $29.81 and its 200-day moving average is $24.61. The company has a market cap of $1.474 billion and a price-to-earnings ratio of 51.88.
Skechers USA (NYSE:SKX) last released its earnings data on Wednesday, July 24th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.11. The company had revenue of $428.20 million for the quarter, compared to the consensus estimate of $427.62 million. During the same quarter in the previous year, the company posted ($0.04) earnings per share. The company’s revenue for the quarter was up 25.6% on a year-over-year basis. Analysts expect that Skechers USA will post $1.16 EPS for the current fiscal year.
Skechers U.SA, Inc (NYSE:SKX) designs and markets Skechers-branded lifestyle footwear for men, women and children, and performance footwear for men and women under several lines.
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