Skechers U.S.A., Inc. (NYSE:SKX)‘s stock had its “neutral” rating restated by research analysts at Wedbush in a report released on Monday.

A number of other research analysts have also commented on the company. Cowen and Company set a $35.00 target price on Skechers U.S.A. and gave the company a “buy” rating in a research note on Saturday. Susquehanna Bancshares Inc restated a “positive” rating and issued a $34.00 target price (up from $32.00) on shares of Skechers U.S.A. in a research note on Sunday. Buckingham Research set a $34.00 target price on Skechers U.S.A. and gave the company a “buy” rating in a research note on Saturday. Citigroup Inc. upped their target price on Skechers U.S.A. from $30.00 to $34.00 and gave the company a “buy” rating in a research note on Friday. Finally, B. Riley restated a “buy” rating and issued a $37.00 target price on shares of Skechers U.S.A. in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the stock. Skechers U.S.A. has a consensus rating of “Hold” and a consensus target price of $31.09.

Skechers U.S.A. (NYSE:SKX) traded down 0.439% during mid-day trading on Monday, reaching $28.375. 1,968,299 shares of the company’s stock traded hands. Skechers U.S.A. has a 12 month low of $18.81 and a 12 month high of $30.00. The firm’s 50-day moving average price is $28.04 and its 200 day moving average price is $26.15. The stock has a market capitalization of $4.41 billion, a PE ratio of 19.678 and a beta of 0.18. Skechers U.S.A. also was the target of some unusual options trading on Friday. Stock investors bought 10,416 put options on the company. This represents an increase of 517% compared to the typical volume of 1,689 put options.

Skechers U.S.A. (NYSE:SKX) last issued its earnings results on Thursday, July 20th. The textile maker reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by $0.06. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $966.46 million. Skechers U.S.A. had a net margin of 5.92% and a return on equity of 12.79%. The business’s revenue for the quarter was up 16.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.48 earnings per share. Equities research analysts predict that Skechers U.S.A. will post $1.56 EPS for the current 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 value of $42,570.00. Following the completion of the sale, the director now directly owns 20,000 shares in the company, valued at $567,600. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO David Weinberg sold 23,502 shares of the firm’s stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $25.08, for a total value of $589,430.16. Following the completion of the sale, the chief operating officer now owns 193,502 shares of the company’s stock, valued at $4,853,030.16. The disclosure for this sale can be found here. Company insiders own 38.20% of the company’s stock.

Several hedge funds have recently made changes to their positions in SKX. Cornerstone Financial Partners LLC raised its stake in shares of 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 during the period. State Treasurer State of Michigan raised its stake in shares of 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 during the period. Louisiana State Employees Retirement System raised its stake in shares of 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 during the period. LS Investment Advisors LLC raised its stake in shares of 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 during the period. Finally, Exane Derivatives acquired a new stake in shares of Skechers U.S.A. during the second quarter worth $118,000. Institutional investors own 64.90% 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.

Analyst Recommendations for Skechers U.S.A. (NYSE:SKX)

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