Buckingham Research Trims Skechers U.S.A., Inc. (SKX) Target Price to $32.00
Skechers U.S.A., Inc. (NYSE:SKX) had its price objective lowered by Buckingham Research from $34.00 to $32.00 in a research note issued to investors on Monday. The brokerage currently has a “buy” rating on the textile maker’s stock. Buckingham Research’s price objective would suggest a potential upside of 28.93% from the company’s current price.
SKX has been the subject of several other reports. Vetr raised shares of Skechers U.S.A. from a “hold” rating to a “buy” rating and set a $32.12 price objective for the company in a research report on Monday, July 10th. Wedbush reissued a “neutral” rating on shares of Skechers U.S.A. in a research report on Monday, July 24th. OTR Global raised shares of Skechers U.S.A. from a “mixed” rating to a “positive” rating in a research report on Tuesday, July 18th. Susquehanna Bancshares Inc raised shares of Skechers U.S.A. from a “neutral” rating to a “positive” rating and raised their price target for the stock from $25.00 to $32.00 in a research report on Monday, June 5th. Finally, BidaskClub lowered shares of Skechers U.S.A. from a “hold” rating to a “sell” rating in a research report on Friday, August 4th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $30.93.
Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings data on Thursday, July 20th. The textile maker reported $0.38 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.06). The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations 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 period in the previous year, the business earned $0.48 earnings per share.
TRADEMARK VIOLATION NOTICE: “Buckingham Research Trims Skechers U.S.A., Inc. (SKX) Target Price to $32.00” was originally posted by American Banking News and is owned by of American Banking News. If you are accessing this piece of content on another site, it was copied illegally and republished in violation of United States & international copyright laws. The legal version of this piece of content can be read at https://www.americanbankingnews.com/2017/09/25/skechers-u-s-a-inc-skx-receives-buy-rating-from-buckingham-research.html.
In other news, General Counsel Phillip Paccione sold 1,004 shares of the firm’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $27.24, for a total transaction of $27,348.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 38.20% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of SKX. BlackRock Inc. grew its stake in shares of Skechers U.S.A. by 3,136.5% during the 1st quarter. BlackRock Inc. now owns 11,190,173 shares of the textile maker’s stock worth $307,170,000 after purchasing an additional 10,844,421 shares during the period. Mik Capital LLC acquired a new stake in shares of Skechers U.S.A. during the 2nd quarter worth approximately $56,285,000. Amerigo Asset Management grew its stake in shares of Skechers U.S.A. by 38.2% during the 2nd quarter. Amerigo Asset Management now owns 6,134,253 shares of the textile maker’s stock worth $180,960,000 after purchasing an additional 1,694,253 shares during the period. State Street Corp grew its stake in shares of Skechers U.S.A. by 47.2% during the 2nd quarter. State Street Corp now owns 5,031,124 shares of the textile maker’s stock worth $148,423,000 after purchasing an additional 1,613,977 shares during the period. Finally, Prudential Financial Inc. grew its stake in shares of Skechers U.S.A. by 125.7% during the 2nd quarter. Prudential Financial Inc. now owns 2,302,352 shares of the textile maker’s stock worth $67,919,000 after purchasing an additional 1,282,260 shares during the period. 70.52% of the stock is currently owned by institutional investors and hedge funds.
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.