Skechers U.S.A., Inc. (NYSE:SKX)‘s stock had its “buy” rating reissued by equities research analysts at Susquehanna Bancshares Inc in a report released on Friday.

The analysts wrote, “Sales benefits from accelerated investments in recent quarters are materializing right at the time that investment growth is beginning to normalize (JV/China investments normalize), creating a favorable set-up for 2018,”

Several other equities analysts also recently weighed in on the company. Zacks Investment Research downgraded Skechers U.S.A. from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Citigroup Inc. increased their target price on Skechers U.S.A. from $30.00 to $34.00 and gave the stock a “buy” rating in a research report on Friday, July 21st. Buckingham Research set a $34.00 target price on Skechers U.S.A. and gave the stock a “buy” rating in a research report on Saturday, July 22nd. BidaskClub upgraded Skechers U.S.A. from a “hold” rating to a “buy” rating in a research report on Friday, June 30th. Finally, Vetr downgraded Skechers U.S.A. from a “strong-buy” rating to a “buy” rating and set a $32.17 price objective on the stock. in a report on Tuesday, July 25th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $34.02.

Shares of Skechers U.S.A. (NYSE:SKX) traded up 40.70% during mid-day trading on Friday, reaching $33.81. 24,450,835 shares of the company traded hands. The stock has a market capitalization of $5.36 billion, a price-to-earnings ratio of 23.45 and a beta of 0.19. Skechers U.S.A. has a 52-week low of $18.81 and a 52-week high of $33.96. The company’s 50 day moving average is $25.32 and its 200 day moving average is $26.40.

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

ILLEGAL ACTIVITY WARNING: This news story was originally published by American Banking News and is owned by of American Banking News. If you are accessing this news story on another website, it was copied illegally and republished in violation of US and international copyright and trademark legislation. The correct version of this news story can be viewed at https://www.americanbankingnews.com/2017/10/20/susquehanna-bancshares-inc-reiterates-buy-rating-for-skechers-u-s-a-inc-skx.html.

In other news, General Counsel Phillip Paccione sold 1,004 shares of the 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 21.73% of the company’s stock.

Several hedge funds have recently bought and sold shares of SKX. US Bancorp DE grew its stake in shares of Skechers U.S.A. by 94.9% in the first quarter. US Bancorp DE now owns 3,895 shares of the textile maker’s stock valued at $107,000 after buying an additional 1,897 shares in the last quarter. UBS Asset Management Americas Inc. grew its stake in shares of Skechers U.S.A. by 23.6% in the first quarter. UBS Asset Management Americas Inc. now owns 86,746 shares of the textile maker’s stock valued at $2,381,000 after buying an additional 16,578 shares in the last quarter. Sei Investments Co. grew its stake in shares of Skechers U.S.A. by 9.6% in the first quarter. Sei Investments Co. now owns 17,407 shares of the textile maker’s stock valued at $477,000 after buying an additional 1,520 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Skechers U.S.A. by 301.5% in the first quarter. JPMorgan Chase & Co. now owns 403,556 shares of the textile maker’s stock valued at $11,079,000 after buying an additional 303,040 shares in the last quarter. Finally, Credit Agricole S A grew its stake in shares of Skechers U.S.A. by 14.5% in the first quarter. Credit Agricole S A now owns 34,106 shares of the textile maker’s stock valued at $936,000 after buying an additional 4,313 shares in the last quarter. Institutional investors and hedge funds own 70.52% 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)

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.