Several analysts have recently updated their ratings and price targets for Skechers U.S.A. (NYSE: SKX):

  • 10/23/2017 – Skechers U.S.A. was downgraded by analysts at Vetr from a “strong-buy” rating to a “hold” rating. They now have a $33.73 price target on the stock.
  • 10/23/2017 – Skechers U.S.A. was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Greater emphasis on new line of products, cost containment efforts, inventory management and global distribution platform have helped lift Skechers’ performance. After witnessing a negative earnings surprise in the second quarter of 2017, Skechers made a sharp come back in the third quarter with the bottom line outperforming the Zacks Consensus Estimate by 37.2%. Following the sturdy performance, shares have been on a bull run and have outpaced the industry in a month. Net sales also beat the estimate for the fourth quarter in row gaining from solid performances at the international wholesale business and company-owned global retail operations. Management now expects both the top and bottom lines to increase year over year during the final quarter. However, higher general & administrative expenses remain a matter of concern. Nevertheless, Skechers expects the rate of increase to decelerate going forward.”
  • 10/20/2017 – Skechers U.S.A. was upgraded by analysts at Wedbush from a “neutral” rating to an “outperform” rating. They now have a $35.00 price target on the stock, up previously from $24.03.
  • 10/20/2017 – Skechers U.S.A. had its price target raised by analysts at Monness Crespi & Hardt from $33.00 to $34.00. They now have a “buy” rating on the stock.
  • 10/20/2017 – Skechers U.S.A. had its price target raised by analysts at Morgan Stanley from $28.50 to $31.00. They now have an “equal weight” rating on the stock.
  • 10/20/2017 – Skechers U.S.A. had its “positive” rating reaffirmed by analysts at Citigroup Inc.. They now have a $38.00 price target on the stock, up previously from $34.00.
  • 10/20/2017 – Skechers U.S.A. had its price target raised by analysts at Wells Fargo & Company from $33.00 to $36.00. They now have a “market perform” rating on the stock.
  • 10/20/2017 – Skechers U.S.A. was given a new $36.00 price target on by analysts at Cowen and Company. They now have a “buy” rating on the stock.
  • 10/20/2017 – Skechers U.S.A. was given a new $37.00 price target on by analysts at B. Riley. They now have a “buy” rating on the stock.
  • 10/20/2017 – Skechers U.S.A. had its “buy” rating reaffirmed by analysts at Susquehanna Bancshares Inc. They 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,”
  • 10/20/2017 – Skechers U.S.A. was given a new $36.00 price target on by analysts at Buckingham Research. They now have a “buy” rating on the stock.
  • 10/10/2017 – Skechers U.S.A. had its “buy” rating reaffirmed by analysts at Susquehanna Bancshares Inc. They now have a $34.00 price target on the stock.
  • 10/4/2017 – Skechers U.S.A. was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “After posting earnings beat in first-quarter 2017, Skechers succumbed to a negative earnings surprise in the second quarter. Although the company's top line improved, it failed to act as a savior for the bottom line that fell 20.8% due to increased operating expenses and higher effective tax rate. Investors remain apprehensive about Skechers’ bottom line that has been declining for five straight quarters and also missed the Zacks Consensus Estimate four times in the said period. Further, soft third quarter earnings projection also raises concern. On the contrary, net sales beat the consensus mark for the third quarter in row and management also provided an encouraging outlook for the same. We believe greater emphasis on new line of products, cost containment efforts, inventory management and global distribution platform may help cushion the stock that has underperformed the industry in the past three months. Estimates are stable lately.”
  • 9/26/2017 – Skechers U.S.A. was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “After posting earnings beat in first-quarter 2017, Skechers succumbed to a negative earnings surprise in the second quarter. Although the company's top line improved, it failed to act as a savior for the bottom line that fell 20.8% due to increased operating expenses and higher effective tax rate. Investors remain apprehensive about Skechers’ bottom line that has been declining for five straight quarters and also missed the Zacks Consensus Estimate four times in the said period. Further, soft third quarter earnings projection also raises concern. On the contrary, net sales beat the consensus mark for the third quarter in row and management also provided an encouraging outlook for the same. We believe greater emphasis on new line of products, cost containment efforts, inventory management and global distribution platform may help lift the stock’s performance that has underperformed the industry in the past three months.”
  • 9/25/2017 – Skechers U.S.A. had its “buy” rating reaffirmed by analysts at Buckingham Research. They now have a $32.00 price target on the stock, down previously from $34.00.
  • 9/20/2017 – Skechers U.S.A. was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “After posting earnings beat in first-quarter 2017, Skechers succumbed to a negative earnings surprise in the second quarter. Although the company's top line improved, it failed to act as a savior for the bottom line that fell 20.8% due to increased operating expenses and higher effective tax rate. Investors remain apprehensive about Skechers’ bottom line that has been declining for five straight quarters and also missed the Zacks Consensus Estimate four times in the said period. Further, soft third quarter earnings projection also raises concern. On the contrary, net sales beat the consensus mark for the third quarter in row and management also provided an encouraging outlook for the same. We believe greater emphasis on new line of products, cost containment efforts, inventory management and global distribution platform may help lift the stock’s performance that has underperformed the industry in the past three months.”

Skechers U.S.A., Inc. (NYSE:SKX) traded up 2.00% during trading on Monday, reaching $34.67. 6,088,639 shares of the company’s stock were exchanged. The stock has a market capitalization of $5.49 billion, a price-to-earnings ratio of 24.04 and a beta of 0.19. The company’s 50 day moving average price is $25.54 and its 200-day moving average price is $26.45. Skechers U.S.A., Inc. has a 52 week low of $18.81 and a 52 week high of $34.87.

Skechers U.S.A. (NYSE:SKX) last posted its quarterly earnings results on Thursday, October 19th. The textile maker reported $0.59 EPS for the quarter, topping the consensus estimate of $0.43 by $0.16. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Skechers U.S.A. had a net margin of 6.38% and a return on equity of 14.10%. The firm’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same period last year, the company posted $0.42 earnings per share. On average, equities analysts expect that Skechers U.S.A., Inc. will post $1.56 EPS for the current year.

In related 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 21.73% of the company’s stock.

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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