Skechers USA Earns Buy Rating from Analysts at Wunderlich (SKX)
Equities research analysts at Wunderlich assumed coverage on shares of Skechers USA (NYSE:SKX) in a research note issued to investors on Thursday. The firm set a “buy” rating and a $70.00 price target on the stock. Wunderlich’s price target points to a potential upside of 15.86% from the stock’s previous close.
In other Skechers USA news, Director Richard Rappaport sold 1,000 shares of Skechers USA stock on the open market in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $60.00, for a total value of $60,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Several other analysts have also recently commented on the stock. 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, August 25th. 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 equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $54.22.
Shares of Skechers USA (NYSE:SKX) opened at 60.42 on Thursday. Skechers USA has a one year low of $26.46 and a one year high of $61.74. The stock has a 50-day moving average of $54.68 and a 200-day moving average of $43.64. The company has a market cap of $3.095 billion and a price-to-earnings ratio of 29.16.
Skechers USA (NYSE:SKX) last announced its 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. On average, analysts predict that Skechers USA will post $2.58 earnings per share for the current fiscal year.
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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