Skechers U.S.A., Inc. (NYSE:SKX) PT Raised to $34.00
Skechers U.S.A., Inc. (NYSE:SKX) had its target price increased by equities research analysts at Citigroup Inc. from $30.00 to $34.00 in a research report issued on Friday. The brokerage currently has a “buy” rating on the textile maker’s stock. Citigroup Inc.’s price target points to a potential upside of 19.30% from the company’s current price.
Several other equities analysts also recently weighed in on SKX. Cowen and Company raised Skechers U.S.A. from a “market perform” rating to an “outperform” rating and set a $35.00 price objective for the company in a research note on Friday, March 24th. UFS reissued a “sell” rating and set a $25.00 price target on shares of Skechers U.S.A. in a research report on Wednesday, March 29th. Susquehanna Bancshares Inc reissued a “negative” rating and set a $25.00 price target (down previously from $30.00) on shares of Skechers U.S.A. in a research report on Wednesday, March 29th. Vetr downgraded Skechers U.S.A. from a “strong-buy” rating to a “buy” rating and set a $26.92 price target for the company. in a research report on Thursday, April 6th. Finally, Zacks Investment Research downgraded Skechers U.S.A. from a “hold” rating to a “sell” rating in a research report on Wednesday, April 12th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $30.68.
Shares of Skechers U.S.A. (SKX) traded up 0.67% during mid-day trading on Friday, hitting $28.50. The company had a trading volume of 9,643,326 shares. Skechers U.S.A. has a 12 month low of $18.81 and a 12 month high of $30.00. The firm has a 50-day moving average price of $28.04 and a 200 day moving average price of $26.15. The firm has a market capitalization of $4.51 billion, a P/E ratio of 18.48 and a beta of 0.19.
Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings data on Thursday, July 20th. The textile maker reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.44 by $0.06. Skechers U.S.A. had a net margin of 6.56% and a return on equity of 14.20%. The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $966.46 million. During the same period in the previous year, the business earned $0.48 earnings per share. The business’s revenue for the quarter was up 16.9% on a year-over-year basis. On average, equities research analysts forecast that Skechers U.S.A. will post $1.77 earnings per share for the current fiscal year.
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In other news, Director Richard Rappaport sold 1,500 shares of the firm’s stock in a transaction on 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO David Weinberg sold 23,502 shares of the firm’s stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $25.08, for a total value of $589,430.16. Following the sale, the chief operating officer now owns 193,502 shares in the company, valued at approximately $4,853,030.16. The disclosure for this sale can be found here. 21.73% of the stock is owned by company insiders.
Several large investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC boosted 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 valued at $106,000 after buying an additional 3,120 shares during the period. US Bancorp DE boosted 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 valued at $107,000 after buying an additional 1,897 shares during the period. Exane Derivatives acquired a new stake in Skechers U.S.A. during the second quarter valued at about $118,000. Neuburgh Advisers LLC boosted its stake in Skechers U.S.A. by 3.8% in the first quarter. Neuburgh Advisers LLC now owns 4,796 shares of the textile maker’s stock valued at $132,000 after buying an additional 176 shares during the period. Finally, NINE MASTS CAPITAL Ltd acquired a new stake in Skechers U.S.A. during the first quarter valued at about $137,000. Institutional investors and hedge funds own 64.92% of the company’s stock.
Skechers U.S.A. 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.
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