Skechers U.S.A., Inc. (NYSE:SKX)‘s stock had its “buy” rating reiterated by investment analysts at Cowen and Company in a research note issued on Friday. They currently have a $38.00 price objective on the textile maker’s stock. Cowen and Company’s price objective would indicate a potential upside of 21.56% from the stock’s previous close.

SKX has been the topic of a number of other research reports. Vetr cut Skechers U.S.A. from a “strong-buy” rating to a “hold” rating and set a $33.73 price target on the stock. in a report on Monday, October 23rd. Susquehanna Bancshares Inc reaffirmed a “buy” rating and issued a $34.00 price target on shares of Skechers U.S.A. in a report on Tuesday, October 10th. Zacks Investment Research cut Skechers U.S.A. from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Citigroup Inc. lifted their price objective on shares of 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. Finally, Buckingham Research set a $34.00 price target on shares of Skechers U.S.A. and gave the company a “buy” rating in a report on Saturday, July 22nd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $34.64.

Shares of Skechers U.S.A. (NYSE SKX) traded down $1.29 during midday trading on Friday, hitting $31.26. The stock had a trading volume of 2,816,669 shares, compared to its average volume of 5,217,410. The firm has a market capitalization of $5,055.50, a PE ratio of 19.82 and a beta of 0.11.

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 Zacks’ consensus estimate of $0.43 by $0.16. Skechers U.S.A. had a return on equity of 13.70% and a net margin of 6.38%. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the firm earned $0.42 earnings per share. The company’s revenue for the quarter was up 16.2% compared to the same quarter last year. research analysts forecast that Skechers U.S.A. will post 1.69 earnings per share for the current fiscal year.

TRADEMARK VIOLATION WARNING: This piece of content was reported by American Banking News and is the property of of American Banking News. If you are reading this piece of content on another publication, it was stolen and republished in violation of U.S. and international trademark and copyright laws. The correct version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/11/03/skechers-u-s-a-inc-skx-stock-rating-reaffirmed-by-cowen-and-company.html.

In other news, President Michael Greenberg sold 150,000 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $31.86, for a total transaction of $4,779,000.00. Following the completion of the sale, the president now owns 251,679 shares in the company, valued at approximately $8,018,492.94. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Richard Siskind sold 25,500 shares of the firm’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $33.40, for a total transaction of $851,700.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 386,504 shares of company stock valued at $12,319,249. 21.73% of the stock is owned by insiders.

Institutional investors have recently modified their holdings of the business. Alps Advisors Inc. raised its position in shares of Skechers U.S.A. by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 18,304 shares of the textile maker’s stock valued at $540,000 after buying an additional 47 shares in the last quarter. Utah Retirement Systems grew its holdings in shares of Skechers U.S.A. by 1.3% during the 2nd quarter. Utah Retirement Systems now owns 24,000 shares of the textile maker’s stock valued at $708,000 after purchasing an additional 300 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Skechers U.S.A. by 6.6% during the 2nd quarter. PNC Financial Services Group Inc. now owns 5,428 shares of the textile maker’s stock valued at $161,000 after purchasing an additional 335 shares during the last quarter. Great West Life Assurance Co. Can grew its holdings in shares of Skechers U.S.A. by 0.6% during the 2nd quarter. Great West Life Assurance Co. Can now owns 80,310 shares of the textile maker’s stock valued at $2,367,000 after purchasing an additional 503 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Skechers U.S.A. by 12.3% during the 2nd 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 during the last quarter. Institutional investors and hedge funds own 70.60% of the company’s stock.

About Skechers U.S.A.

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.