Skechers USA Price Target Increased to $55.00 by Analysts at Susquehanna (SKX)
Analysts at Susquehanna hoisted their price objective on shares of Skechers USA (NYSE:SKX) from $48.00 to $55.00 in a research report issued to clients and investors on Wednesday. Susquehanna’s price objective would suggest a potential upside of 23.54% from the stock’s previous close.
A number of other firms have also recently commented on SKX. Analysts at Citigroup Inc. raised their price target on shares of Skechers USA from $49.00 to $52.00 in a research note on Friday, May 30th. They now have a “buy” rating on the stock. Finally, analysts at TheStreet upgraded shares of Skechers USA from a “hold” rating to a “buy” rating in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $41.22.
Shares of Skechers USA (NYSE:SKX) traded up 3.06% on Wednesday, hitting $45.8801. 375,966 shares of the company’s stock traded hands. Skechers USA has a one year low of $21.31 and a one year high of $45.04. The stock’s 50-day moving average is $40.73 and its 200-day moving average is $34.92. The company has a market cap of $2.320 billion and a P/E ratio of 28.52.
Skechers USA (NYSE:SKX) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $0.61 earnings per share (EPS) for the quarter, missing the 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 previous year, the company posted $0.93 earnings per share. The company’s revenue for the quarter was up 21.0% on a year-over-year basis. Analysts expect that Skechers USA will post $2.15 EPS for the current fiscal year.
In other Skechers USA news, EVP Mark Nason unloaded 7,025 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $42.96, for a total transaction of $301,794.00. Following the sale, the executive vice president now directly owns 19,357 shares in the company, valued at approximately $831,577. The transaction was disclosed in a filing with the SEC, which is available at this link.
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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