Skechers U.S.A., Inc. (NYSE:SKX)‘s stock had its “positive” rating reissued by research analysts at Citigroup Inc. in a report released on Friday, The Fly reports. They presently have a $38.00 price objective on the textile maker’s stock, up from their previous price objective of $34.00. Citigroup Inc.’s price target points to a potential upside of 11.80% from the company’s previous close.

A number of other analysts have also commented on SKX. B. Riley reaffirmed a “buy” rating and set a $37.00 price objective on shares of Skechers U.S.A. in a research note on Friday, July 21st. Morgan Stanley increased their price objective on Skechers U.S.A. from $28.50 to $31.00 and gave the company an “equal weight” rating in a research note on Friday. Wedbush raised Skechers U.S.A. from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $24.03 to $35.00 in a research note on Friday. Monness Crespi & Hardt increased their price objective on Skechers U.S.A. from $33.00 to $34.00 and gave the company a “buy” rating in a research note on Friday. Finally, Zacks Investment Research lowered Skechers U.S.A. from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $34.02.

Shares of Skechers U.S.A. (SKX) traded up 41.45% during midday trading on Friday, reaching $33.99. 35,080,765 shares of the company’s stock traded hands. Skechers U.S.A. has a 52 week low of $19.02 and a 52 week high of $34.33. The company has a market capitalization of $5.39 billion, a PE ratio of 23.57 and a beta of 0.19. The stock’s 50 day moving average is $25.54 and its 200-day moving average is $26.45.

Skechers U.S.A. (NYSE:SKX) last posted its earnings results on Thursday, October 19th. The textile maker reported $0.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.16. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.07 billion. Skechers U.S.A. had a return on equity of 12.79% and a net margin of 5.92%. Skechers U.S.A.’s revenue was up 16.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.42 earnings per share. On average, analysts forecast that Skechers U.S.A. will post $1.56 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: “Citigroup Inc. Reaffirms Positive Rating for Skechers U.S.A., Inc. (SKX)” was reported by American Banking News and is the property of of American Banking News. If you are accessing this news story on another publication, it was illegally copied and reposted in violation of international trademark & copyright laws. The original version of this news story can be read at https://www.americanbankingnews.com/2017/10/20/citigroup-inc-reaffirms-positive-rating-for-skechers-u-s-a-inc-skx.html.

In other Skechers U.S.A. news, General Counsel Phillip Paccione sold 1,004 shares of the firm’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $27.24, for a total value of $27,348.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 21.73% of the stock is currently owned by company insiders.

A number of large investors have recently modified their holdings of the business. Meeder Asset Management Inc. boosted its stake in Skechers U.S.A. by 2,365.6% in the 3rd quarter. Meeder Asset Management Inc. now owns 15,903 shares of the textile maker’s stock worth $399,000 after buying an additional 15,258 shares during the last quarter. Davidson Kempner Capital Management LP boosted its stake in Skechers U.S.A. by 13.6% in the 2nd quarter. Davidson Kempner Capital Management LP now owns 400,000 shares of the textile maker’s stock worth $11,800,000 after buying an additional 47,890 shares during the last quarter. Toronto Dominion Bank acquired a new stake in Skechers U.S.A. in the 2nd quarter worth about $11,798,000. Public Employees Retirement System of Ohio boosted its stake in Skechers U.S.A. by 8.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 64,414 shares of the textile maker’s stock worth $1,900,000 after buying an additional 5,154 shares during the last quarter. Finally, Ameritas Investment Partners Inc. boosted its stake in Skechers U.S.A. by 1.5% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 40,036 shares of the textile maker’s stock worth $1,181,000 after buying an additional 602 shares during the last quarter. 70.52% of the stock is currently owned by hedge funds and other institutional investors.

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.

The Fly

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

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.