Skechers U.S.A., Inc. (SKX) Given Average Recommendation of “Buy” by Brokerages
Shares of Skechers U.S.A., Inc. (NYSE:SKX) have been given a consensus rating of “Buy” by the sixteen analysts that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $34.43.
A number of research firms recently commented on SKX. Vetr downgraded Skechers U.S.A. from a “strong-buy” rating to a “hold” rating and set a $33.73 price objective for the company. in a report on Monday, October 23rd. Zacks Investment Research upgraded Skechers U.S.A. from a “sell” rating to a “hold” rating and set a $38.00 price objective for the company in a report on Monday, October 23rd. Cowen and Company reiterated a “buy” rating and issued a $35.00 price objective on shares of Skechers U.S.A. in a report on Friday, October 27th. BidaskClub upgraded Skechers U.S.A. from a “sell” rating to a “hold” rating in a report on Saturday, August 12th. Finally, OTR Global upgraded Skechers U.S.A. from a “mixed” rating to a “positive” rating in a report on Tuesday, July 18th.
Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings results on Thursday, October 19th. The textile maker reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.16. The business 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 13.70% and a net margin of 6.38%. The firm’s revenue for the quarter was up 16.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.42 earnings per share.
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In other Skechers U.S.A. news, President Michael Greenberg sold 150,000 shares of the stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $31.86, for a total value of $4,779,000.00. Following the completion of the sale, the president now directly owns 251,679 shares in the company, valued at $8,018,492.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey Greenberg sold 180,000 shares of the stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $31.72, for a total value of $5,709,600.00. The disclosure for this sale can be found here. Insiders sold 356,504 shares of company stock valued at $11,367,649 over the last 90 days. Corporate insiders own 21.73% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Seven Eight Capital LP bought a new stake in shares of Skechers U.S.A. in the second quarter worth about $105,000. Aviance Capital Management LLC bought a new stake in shares of Skechers U.S.A. in the second quarter worth about $109,000. Exane Derivatives bought a new stake in shares of Skechers U.S.A. in the second quarter worth about $118,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Skechers U.S.A. by 12.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,594 shares of the textile maker’s stock worth $136,000 after acquiring an additional 503 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Skechers U.S.A. by 6.6% in the second quarter. PNC Financial Services Group Inc. now owns 5,428 shares of the textile maker’s stock worth $161,000 after acquiring an additional 335 shares in the last quarter. Institutional investors own 70.60% 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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