Skechers U.S.A., Inc. (NYSE:SKX) Stock Rating Upgraded by OTR Global
Skechers U.S.A., Inc. (NYSE:SKX) was upgraded by investment analysts at OTR Global to a “positive” rating in a research report issued on Tuesday, The Fly reports.
Several other brokerages have also weighed in on SKX. B. Riley reissued a “buy” rating and set a $32.00 price objective on shares of Skechers U.S.A. in a report on Wednesday, April 26th. BidaskClub raised shares of Skechers U.S.A. from a “hold” rating to a “buy” rating in a report on Friday, June 30th. Vetr lowered shares of Skechers U.S.A. from a “strong-buy” rating to a “buy” rating and set a $32.12 price target for the company. in a report on Monday. Susquehanna Bancshares Inc raised shares of Skechers U.S.A. from a “neutral” rating to a “positive” rating and lifted their price target for the company from $25.00 to $32.00 in a report on Monday, June 5th. Finally, Cowen and Company reaffirmed an “outperform” rating and issued a $35.00 price target on shares of Skechers U.S.A. in a report on Wednesday, June 21st. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $29.93.
Skechers U.S.A. (SKX) opened at 28.67 on Tuesday. The company’s 50 day moving average is $26.15 and its 200-day moving average is $25.78. Skechers U.S.A. has a 52 week low of $18.81 and a 52 week high of $32.71. The firm has a market cap of $4.54 billion, a P/E ratio of 18.59 and a beta of 0.18.
Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings results on Thursday, April 20th. The textile maker reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.05. Skechers U.S.A. had a net margin of 6.56% and a return on equity of 14.20%. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the previous year, the firm posted $0.63 EPS. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. Equities analysts expect that Skechers U.S.A. will post $1.77 earnings per share for the current year.
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In other Skechers U.S.A. news, COO David Weinberg sold 23,502 shares of the business’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $25.08, for a total transaction of $589,430.16. Following the sale, the chief operating officer now directly owns 193,502 shares in the company, valued at approximately $4,853,030.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard Rappaport sold 1,500 shares of the business’s stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $28.38, for a total transaction of $42,570.00. Following the sale, the director now owns 20,000 shares in the company, valued at $567,600. The disclosure for this sale can be found here. 38.20% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in SKX. Creative Planning acquired a new stake in Skechers U.S.A. during the fourth quarter worth approximately $0. Tower Research Capital LLC TRC increased its stake in Skechers U.S.A. by 430.9% in the first quarter. Tower Research Capital LLC TRC now owns 3,844 shares of the textile maker’s stock worth $106,000 after buying an additional 3,120 shares during the last quarter. US Bancorp DE increased its stake in Skechers U.S.A. by 94.9% in the first quarter. US Bancorp DE now owns 3,895 shares of the textile maker’s stock worth $107,000 after buying an additional 1,897 shares during the last quarter. Glenmede Trust Co. NA acquired a new stake in Skechers U.S.A. during the second quarter worth approximately $117,000. Finally, Exane Derivatives acquired a new stake in Skechers U.S.A. during the second quarter worth approximately $118,000. Institutional investors own 64.92% of the company’s stock.
About Skechers U.S.A.
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.
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