Skechers USA Price Target Raised to $65.00 at Susquehanna (SKX)
Equities researchers at Susquehanna hoisted their price target on shares of Skechers USA (NYSE:SKX) from $60.00 to $65.00 in a research report issued on Thursday. The firm currently has a “positive” rating on the stock. Susquehanna’s price objective suggests a potential upside of 16.47% from the stock’s previous close.
Several other analysts have also 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. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. Skechers USA has a consensus rating of “Buy” and an average target price of $48.00.
Shares of Skechers USA (NYSE:SKX) traded up 1.45% during mid-day trading on Thursday, hitting $56.617. 192,456 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 has a 50-day moving average of $49.64 and a 200-day moving average of $40.61. The company has a market cap of $2.900 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 (EPS) for the quarter, beating the 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 previous year, the company posted $0.14 earnings per share. The company’s revenue for the quarter was up 37.1% on a year-over-year basis. On average, analysts predict that Skechers USA will post $2.53 earnings per share for the current fiscal year.
In other Skechers USA news, Director Geyer Kosinski unloaded 7,850 shares of the company’s stock on the open market in a transaction that occurred on 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 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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