Skechers U.S.A., Inc. (NYSE:SKX) has been given a $35.00 price target by investment analysts at Cowen and Company in a research note issued on Monday. The firm presently has a “buy” rating on the textile maker’s stock. Cowen and Company’s price objective indicates a potential upside of 21.87% from the company’s current price.

Several other analysts also recently issued reports on the stock. BidaskClub raised shares of Skechers U.S.A. from a “sell” rating to a “hold” rating in a research report on Saturday. Zacks Investment Research raised shares of Skechers U.S.A. from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Vetr downgraded shares of Skechers U.S.A. from a “strong-buy” rating to a “buy” rating and set a $32.17 price objective for the company. in a research report on Tuesday, July 25th. Wedbush reaffirmed a “neutral” rating on shares of Skechers U.S.A. in a research report on Monday, July 24th. Finally, Susquehanna Bancshares Inc reaffirmed a “positive” rating and issued a $34.00 price objective (up previously from $32.00) on shares of Skechers U.S.A. in a research report on Sunday, July 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the stock. Skechers U.S.A. has a consensus rating of “Buy” and a consensus target price of $31.10.

Shares of Skechers U.S.A. (SKX) traded down 2.08% on Monday, hitting $28.72. 1,716,405 shares of the company were exchanged. Skechers U.S.A. has a 52-week low of $18.81 and a 52-week high of $30.00. The firm has a market cap of $4.55 billion, a P/E ratio of 19.92 and a beta of 0.18. The company has a 50-day moving average price of $28.61 and a 200 day moving average price of $26.50.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings data on Thursday, July 20th. The textile maker reported $0.38 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by $0.06. Skechers U.S.A. had a net margin of 5.92% and a return on equity of 12.79%. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $966.46 million. During the same period last year, the business earned $0.48 EPS. The firm’s revenue was up 16.9% compared to the same quarter last year. Analysts predict that Skechers U.S.A. will post $1.57 EPS for the current fiscal year.

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In related 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 transaction, the director now directly owns 20,000 shares in the company, valued at $567,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 38.20% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the company. Alps Advisors Inc. boosted its position in shares of Skechers U.S.A. by 0.3% in the second quarter. Alps Advisors Inc. now owns 18,304 shares of the textile maker’s stock valued at $540,000 after buying an additional 47 shares during the period. Northwestern Mutual Investment Management Company LLC boosted its position in shares of Skechers U.S.A. by 0.3% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 23,053 shares of the textile maker’s stock valued at $633,000 after buying an additional 75 shares during the period. Prescott Group Capital Management L.L.C. boosted its position in shares of Skechers U.S.A. by 0.3% in the first quarter. Prescott Group Capital Management L.L.C. now owns 32,100 shares of the textile maker’s stock valued at $881,000 after buying an additional 100 shares during the period. Utah Retirement Systems boosted its position in shares of Skechers U.S.A. by 0.4% in the first quarter. Utah Retirement Systems now owns 23,700 shares of the textile maker’s stock valued at $651,000 after buying an additional 100 shares during the period. Finally, IFP Advisors Inc boosted its position in shares of Skechers U.S.A. by 2.0% in the first quarter. IFP Advisors Inc now owns 7,409 shares of the textile maker’s stock valued at $203,000 after buying an additional 147 shares during the period. Hedge funds and other institutional investors own 67.86% 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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