Skechers USA Given Average Recommendation of “Buy” by Brokerages (NYSE:SKX)
Shares of Skechers USA (NYSE:SKX) have been given a consensus rating of “Buy” by the ten ratings firms that are presently covering the company, Stock Ratings News reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $46.75.
Shares of Skechers USA (NYSE:SKX) traded up 1.16% during mid-day trading on Thursday, hitting $56.46. 139,187 shares of the company’s stock traded hands. Skechers USA has a 52-week low of $26.46 and a 52-week high of $56.89. The stock’s 50-day moving average is $49.64 and its 200-day moving average is $40.61. The company has a market cap of $2.892 billion and a price-to-earnings ratio of 26.58.
Skechers USA (NYSE:SKX) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $0.68 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.14 earnings per share. Skechers USA’s revenue was up 37.1% compared to the same quarter last year. Analysts expect that Skechers USA will post $2.53 EPS for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated an “outperform” rating on shares of Skechers USA in a research note on Monday, August 4th. They now have a $58.00 price target on the stock. Separately, analysts at Sidoti upgraded shares of Skechers USA from a “neutral” rating to a “buy” rating in a research note on Thursday, July 24th. Finally, 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.
In other Skechers USA news, Director Geyer Kosinski sold 7,850 shares of the stock on the open market in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $55.16, for a total transaction of $433,006.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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.
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.