Skechers USA Given New $43.00 Price Target at Sterne Agee (SKX)
Research analysts at Sterne Agee lifted their target price on shares of Skechers USA (NYSE:SKX) to $43.00 in a report released on Thursday, AnalystRatingsNetwork.com reports. Sterne Agee’s price objective suggests a potential upside of 43.33% from the company’s current price.
Skechers USA (NYSE:SKX) opened at 29.98 on Thursday. Skechers USA has a 52-week low of $19.97 and a 52-week high of $34.95. The stock has a 50-day moving average of $30.17 and a 200-day moving average of $30.39. The company has a market cap of $1.521 billion and a price-to-earnings ratio of 34.07.
Skechers USA (NYSE:SKX) last released its earnings data on Wednesday, February 12th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.12. The company had revenue of $450.70 million for the quarter, compared to the consensus estimate of $448.58 million. During the same quarter in the previous year, the company posted $0.08 earnings per share. The company’s revenue for the quarter was up 13.9% on a year-over-year basis. Analysts expect that Skechers USA will post $1.73 EPS for the current fiscal year.
SKX has been the subject of a number of other recent research reports. Analysts at Zacks upgraded shares of Skechers USA from a “neutral” rating to an “outperform” rating in a research note on Thursday, January 23rd. They now have a $30.00 price target on the stock. Separately, analysts at BB&T Corp. downgraded shares of Skechers USA from a “buy” rating to a “hold” rating in a research note on Tuesday, January 21st. They now have a $33.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Skechers USA currently has an average rating of “Buy” and an average target price of $34.17.
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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