Skechers USA Director Richard Rappaport Unloads 1,000 Shares (SKX)
Skechers USA (NYSE:SKX) Director Richard Rappaport unloaded 1,000 shares of Skechers USA stock on the open market in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $60.00, for a total transaction of $60,000.00. Following the sale, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $600,000. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Shares of Skechers USA (NYSE:SKX) traded up 1.16% during mid-day trading on Monday, hitting $59.43. 623,989 shares of the company’s stock traded hands. Skechers USA has a 52-week low of $26.46 and a 52-week high of $59.20. The stock’s 50-day moving average is $51.98 and its 200-day moving average is $41.98. The company has a market cap of $3.044 billion and a P/E ratio of 27.98.
Skechers USA (NYSE:SKX) last released its earnings data 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 $2.55 EPS for the current fiscal year.
A number of analysts have recently weighed in on SKX shares. Analysts at Sterne Agee raised their price target on shares of Skechers USA from $60.00 to $70.00 in a research note on Monday. Separately, analysts at Citigroup Inc. raised their price target on shares of Skechers USA from $60.00 to $66.00 in a research note on Wednesday, August 20th. They now have a “buy” rating on the stock. Finally, 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. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $52.25.
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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