Skechers USA Inc. (SKX) Downgraded by Vetr Inc. to “Buy”
Skechers USA Inc. (NYSE:SKX) was downgraded by Vetr from a “strong-buy” rating to a “buy” rating in a research report issued on Thursday. They currently have a $25.25 target price on the stock. Vetr‘s price target would suggest a potential upside of 10.99% from the company’s current price.
Several other research firms have also recently weighed in on SKX. Cowen and Company set a $24.00 price target on shares of Skechers USA and gave the company a “hold” rating in a research note on Thursday, September 22nd. Zacks Investment Research raised shares of Skechers USA from a “sell” rating to a “hold” rating in a research note on Monday, July 18th. Susquehanna began coverage on shares of Skechers USA in a research report on Friday, August 12th. They set a “neutral” rating and a $27.00 price objective for the company. B. Riley reaffirmed a “buy” rating and set a $42.00 price objective on shares of Skechers USA in a research report on Tuesday, July 19th. Finally, Standpoint Research began coverage on shares of Skechers USA in a research report on Monday, October 3rd. They set a “buy” rating and a $30.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $29.79.
Skechers USA (NYSE:SKX) traded down 1.43% on Thursday, reaching $22.75. The company’s stock had a trading volume of 1,956,643 shares. Skechers USA has a one year low of $20.90 and a one year high of $49.28. The firm has a 50-day moving average of $23.25 and a 200-day moving average of $27.60. The company has a market capitalization of $3.59 billion, a PE ratio of 13.14 and a beta of 0.15.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/13/skechers-usa-inc-skx-downgraded-by-vetr-inc-to-buy-2.html
Skechers USA (NYSE:SKX) last posted its quarterly earnings results on Thursday, July 21st. The company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.52 by $0.02. Skechers USA had a net margin of 7.79% and a return on equity of 20.20%. The firm earned $877.80 million during the quarter, compared to analysts’ expectations of $892.06 million. During the same period last year, the company earned $0.52 EPS. Analysts predict that Skechers USA will post $1.80 EPS for the current year.
In related news, General Counsel Phillip Paccione sold 1,389 shares of Skechers USA stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $24.12, for a total transaction of $33,502.68. Following the sale, the general counsel now directly owns 90,445 shares in the company, valued at approximately $2,181,533.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 21.73% of the company’s stock.
A number of large investors have recently made changes to their positions in the company. Glenmede Trust Co. NA bought a new stake in shares of Skechers USA during the second quarter valued at approximately $117,000. MSI Financial Services Inc raised its stake in shares of Skechers USA by 36.6% in the third quarter. MSI Financial Services Inc now owns 6,210 shares of the company’s stock valued at $143,000 after buying an additional 1,665 shares in the last quarter. US Bancorp DE raised its stake in shares of Skechers USA by 45.7% in the second quarter. US Bancorp DE now owns 5,211 shares of the company’s stock valued at $155,000 after buying an additional 1,635 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Skechers USA by 20.1% in the second quarter. PNC Financial Services Group Inc. now owns 6,442 shares of the company’s stock valued at $192,000 after buying an additional 1,079 shares in the last quarter. Finally, Ancora Advisors LLC bought a new stake in shares of Skechers USA during the second quarter valued at approximately $208,000. Hedge funds and other institutional investors own 65.70% of the company’s stock.
Skechers USA Company Profile
Skechers U.SA, Inc is a designer and marketer of Skechers-branded lifestyle footwear for men, women and children, and performance footwear for men and women under the Skechers GO brand name. The Company operates through three segments: domestic wholesale sales, international wholesale sales, and retail sales, which includes e-commerce sales.
To view Vetr’s full report, visit Vetr’s official website.
Receive News & Ratings for Skechers USA Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Skechers USA Inc. and related companies with MarketBeat.com's FREE daily email newsletter.