Skechers USA Stock Rating Reaffirmed by Zacks (SKX)
Skechers USA (NYSE:SKX)‘s stock had its “outperform” rating reiterated by Zacks in a research report issued on Monday. They currently have a $58.00 target price on the stock. Zacks‘s target price would suggest a potential upside of 10.92% from the company’s current price.
Shares of Skechers USA (NYSE:SKX) traded up 1.40% during mid-day trading on Monday, hitting $53.02. The stock had a trading volume of 180,934 shares. Skechers USA has a 52 week low of $26.46 and a 52 week high of $54.49. The stock’s 50-day moving average is $47.39 and its 200-day moving average is $39.09. The company has a market cap of $2.681 billion and a price-to-earnings ratio of 24.90.
Skechers USA (NYSE:SKX) last released its earnings data on Wednesday, July 23rd. The company reported $0.68 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.40 by $0.28. The company had revenue of $587.10 million for the quarter, compared to the consensus estimate of $508.82 million. During the same quarter in the prior year, the company posted $0.14 earnings per share. The company’s quarterly revenue was up 37.1% on a year-over-year basis. Analysts expect that Skechers USA will post $2.47 EPS for the current fiscal year.
SKX has been the subject of a number of other recent research reports. Analysts at Sidoti upgraded shares of Skechers USA from a “neutral” rating to a “buy” rating in a research note on Thursday, July 24th. Separately, analysts at B. Riley raised their price target on shares of Skechers USA from $49.00 to $58.00 in a research note on Thursday, July 24th. Finally, analysts at B. Riley reiterated a “buy” rating on shares of Skechers USA in a research note on Tuesday, July 22nd. They now have a $58.00 price target on the stock, up previously from $49.00. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company’s stock. Skechers USA currently has an average rating of “Buy” and an average target price of $46.75.
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.
To view Zacks’ full report, visit Zacks’ official website.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.