Skechers USA Coverage Initiated by Analysts at Citigroup Inc. (SKX)
Analysts at Citigroup Inc. started coverage on shares of Skechers USA (NYSE:SKX) in a research report issued to clients and investors on Monday, TheFlyOnTheWall.com reports. The firm set a “buy” rating on the stock.
SKX has been the subject of a number of other recent research reports. Analysts at TheStreet upgraded shares of Skechers USA from a “hold” rating to a “buy” rating in a research note on Thursday, April 24th. Separately, analysts at Sterne Agee raised their price target on shares of Skechers USA from $43.00 to $50.00 in a research note on Wednesday, April 23rd. They now have a “buy” rating on the stock. Finally, analysts at Susquehanna raised their price target on shares of Skechers USA from $40.00 to $48.00 in a research note on Wednesday, April 23rd. They now have a “positive” rating on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $39.00.
Skechers USA (NYSE:SKX) opened at 40.94 on Monday. Skechers USA has a one year low of $19.99 and a one year high of $42.62. The stock has a 50-day moving average of $38.14 and a 200-day moving average of $33.78. The company has a market cap of $2.070 billion and a P/E ratio of 26.07.
Skechers USA (NYSE:SKX) last announced its earnings results on Tuesday, April 22nd. The company reported $0.61 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.95 by $0.34. The company had revenue of $546.50 million for the quarter, compared to the consensus estimate of $508.82 million. During the same quarter in the prior year, the company posted $0.93 earnings per share. The company’s quarterly revenue was up 21.0% on a year-over-year basis. On average, analysts predict that Skechers USA will post $2.15 earnings per share 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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