Susquehanna Bancshares Inc Reiterates Buy Rating for Skechers U.S.A., Inc. (SKX)
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.
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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.
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