Skechers U.S.A., Inc. (SKX) Given New $34.00 Price Target at Monness Crespi & Hardt
Skechers U.S.A., Inc. (NYSE:SKX) had its target price increased by research analysts at Monness Crespi & Hardt from $33.00 to $34.00 in a note issued to investors on Friday, MarketBeat.com reports. The brokerage currently has a “buy” rating on the textile maker’s stock. Monness Crespi & Hardt’s target price points to a potential upside of 0.03% from the stock’s previous close.
Other analysts have also recently issued reports about the stock. B. Riley reaffirmed a “buy” rating and set a $37.00 target price on shares of Skechers U.S.A. in a report on Friday, July 21st. Wedbush raised shares of Skechers U.S.A. from a “neutral” rating to an “outperform” rating and upped their target price for the company from $24.03 to $35.00 in a report on Friday. Citigroup Inc. upped their target price on shares of Skechers U.S.A. from $30.00 to $34.00 and gave the company a “buy” rating in a report on Friday, July 21st. Zacks Investment Research cut shares of Skechers U.S.A. from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Finally, Susquehanna Bancshares Inc reaffirmed a “positive” rating and set a $34.00 target price (up from $32.00) on shares of Skechers U.S.A. in a report on Sunday, July 23rd. Three research analysts have rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $34.02.
Skechers U.S.A. (NYSE:SKX) traded up 41.45% on Friday, reaching $33.99. 35,080,765 shares of the company were exchanged. Skechers U.S.A. has a 12-month low of $19.02 and a 12-month high of $34.33. The firm has a market capitalization of $5.39 billion, a P/E ratio of 23.57 and a beta of 0.19. The firm has a 50-day moving average of $25.54 and a 200 day moving average of $26.45.
Skechers U.S.A. (NYSE:SKX) last announced its earnings results on Thursday, October 19th. The textile maker reported $0.59 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.16. Skechers U.S.A. had a net margin of 6.38% and a return on equity of 14.10%. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the prior year, the company earned $0.42 earnings per share. The firm’s revenue was up 16.2% on a year-over-year basis. On average, equities analysts predict 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 on Thursday, August 24th. The shares were sold at an average price of $27.24, for a total value of $27,348.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 21.73% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in SKX. Seven Eight Capital LP purchased a new stake in shares of Skechers U.S.A. in the second quarter worth $105,000. Tower Research Capital LLC TRC increased its stake in shares of Skechers U.S.A. by 430.9% in the first quarter. Tower Research Capital LLC TRC now owns 3,844 shares of the textile maker’s stock worth $106,000 after purchasing an additional 3,120 shares in the last quarter. US Bancorp DE increased 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 worth $107,000 after purchasing an additional 1,897 shares in the last quarter. Aviance Capital Management LLC purchased a new stake in shares of Skechers U.S.A. in the second quarter worth $109,000. Finally, Exane Derivatives purchased a new stake in shares of Skechers U.S.A. in the second quarter worth $118,000. 70.52% of the stock is 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.
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