Skechers USA Price Target Raised to $66.00 at Citigroup Inc. (SKX)
Analysts at Citigroup Inc. hoisted their price objective on shares of Skechers USA (NYSE:SKX) from $60.00 to $66.00 in a research report issued to clients and investors on Wednesday. Citigroup Inc.’s price objective indicates a potential upside of 15.47% from the stock’s previous close.
A number of other analysts have also recently weighed in on SKX. Analysts at Susquehanna raised their price target on shares of Skechers USA from $60.00 to $65.00 in a research note on Thursday, August 14th. They now have a “positive” rating on the stock. Separately, 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. Finally, analysts at Sidoti upgraded shares of Skechers USA from a “neutral” rating to a “buy” rating in a research note on Thursday, July 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $49.75.
Skechers USA (NYSE:SKX) opened at 57.16 on Wednesday. Skechers USA has a 52 week low of $26.46 and a 52 week high of $58.87. The stock’s 50-day moving average is $50.94 and its 200-day moving average is $41.53. The company has a market cap of $2.928 billion and a price-to-earnings ratio of 27.22.
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. Analysts expect that Skechers USA will post $2.54 EPS for the current fiscal year.
In other Skechers USA news, Director Geyer Kosinski sold 7,850 shares of Skechers USA 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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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