Skechers U.S.A.’s (SKX) “Buy” Rating Reiterated at Buckingham Research
Skechers U.S.A., Inc. (NYSE:SKX)‘s stock had its “buy” rating restated by research analysts at Buckingham Research in a research note issued to investors on Saturday. They currently have a $34.00 target price on the textile maker’s stock. Buckingham Research’s price target indicates a potential upside of 19.30% from the stock’s previous close.
Other equities research analysts also recently issued reports about the company. Citigroup Inc. decreased their price target on Skechers U.S.A. from $30.00 to $25.00 and set a “positive” rating for the company in a report on Wednesday, March 29th. B. Riley raised Skechers U.S.A. from a “neutral” rating to a “buy” rating and set a $32.00 price target for the company in a report on Friday, April 21st. UBS AG raised Skechers U.S.A. from a “neutral” rating to a “positive” rating in a report on Monday, June 5th. Susquehanna Bancshares Inc reaffirmed a “neutral” rating and set a $25.00 price target on shares of Skechers U.S.A. in a report on Monday, April 24th. Finally, Vetr raised Skechers U.S.A. from a “hold” rating to a “buy” rating and set a $26.28 price target for the company in a report on Wednesday, April 12th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $30.93.
Shares of Skechers U.S.A. (SKX) traded up 0.67% during mid-day trading on Friday, reaching $28.50. 9,643,326 shares of the company’s stock traded hands. The firm’s 50-day moving average is $28.04 and its 200 day moving average is $26.15. The firm has a market cap of $4.51 billion, a price-to-earnings ratio of 18.48 and a beta of 0.19. Skechers U.S.A. has a one year low of $18.81 and a one year high of $30.00.
Skechers U.S.A. (NYSE:SKX) last announced its earnings results on Thursday, July 20th. The textile maker reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by $0.06. The business had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $966.46 million. Skechers U.S.A. had a return on equity of 13.09% and a net margin of 5.92%. The business’s revenue was up 16.9% on a year-over-year basis. During the same quarter last year, the business posted $0.48 earnings per share. Analysts predict that Skechers U.S.A. will post $1.77 earnings per share for the current year.
In related news, COO David Weinberg sold 23,502 shares of Skechers U.S.A. stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $25.08, for a total transaction of $589,430.16. Following the completion of the sale, the chief operating officer now owns 193,502 shares in the company, valued at approximately $4,853,030.16. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Richard Rappaport sold 1,500 shares of Skechers U.S.A. stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $28.38, for a total value of $42,570.00. Following the sale, the director now owns 20,000 shares of the company’s stock, valued at approximately $567,600. The disclosure for this sale can be found here. Insiders own 21.73% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the company. Cornerstone Financial Partners LLC boosted its stake in Skechers U.S.A. by 9.3% in the second quarter. Cornerstone Financial Partners LLC now owns 10,422 shares of the textile maker’s stock worth $309,000 after buying an additional 888 shares in the last quarter. State Treasurer State of Michigan boosted its stake in Skechers U.S.A. by 1.5% in the second quarter. State Treasurer State of Michigan now owns 55,200 shares of the textile maker’s stock worth $1,628,000 after buying an additional 800 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in Skechers U.S.A. by 3.3% in the second quarter. Louisiana State Employees Retirement System now owns 34,900 shares of the textile maker’s stock worth $1,030,000 after buying an additional 1,100 shares in the last quarter. LS Investment Advisors LLC boosted its stake in Skechers U.S.A. by 14.2% in the second quarter. LS Investment Advisors LLC now owns 13,762 shares of the textile maker’s stock worth $406,000 after buying an additional 1,715 shares in the last quarter. Finally, Exane Derivatives bought a new stake in Skechers U.S.A. during the second quarter worth approximately $118,000. Hedge funds and other institutional investors 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.
Receive News & Ratings for Skechers U.S.A. Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Skechers U.S.A. Inc. and related companies with MarketBeat.com's FREE daily email newsletter.