Several brokerages have updated their recommendations and price targets on shares of Skechers USA (NYSE: SKX) in the last few weeks:

  • 1/3/2018 – Skechers USA had its “buy” rating reaffirmed by analysts at Wedbush. They now have a $45.00 price target on the stock, up previously from $39.00.
  • 1/2/2018 – Skechers USA was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $42.00 price target on the stock. 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 the past three months. 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.”
  • 12/26/2017 – Skechers USA was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $43.00 price target on the stock. 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 the past three months. 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.”
  • 12/18/2017 – Skechers USA was given a new $42.00 price target on by analysts at Cowen Inc. They now have a “buy” rating on the stock.
  • 12/15/2017 – Skechers USA was upgraded by analysts at Argus from a “hold” rating to a “buy” rating.
  • 12/11/2017 – Skechers USA was downgraded by analysts at Vetr from a “buy” rating to a “hold” rating. They now have a $37.55 price target on the stock.
  • 12/11/2017 – Skechers USA was given a new $42.00 price target on by analysts at Cowen Inc. They now have a “buy” rating on the stock.
  • 12/4/2017 – Skechers USA had its “buy” rating reaffirmed by analysts at Susquehanna Bancshares Inc. They now have a $46.00 price target on the stock.
  • 12/1/2017 – Skechers USA had its price target raised by analysts at Monness Crespi & Hardt from $34.00 to $40.00. They now have a “buy” rating on the stock.
  • 11/28/2017 – Skechers USA was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating. They now have a $37.55 price target on the stock.
  • 11/27/2017 – Skechers USA was downgraded by analysts at Vetr from a “buy” rating to a “hold” rating. They now have a $34.87 price target on the stock.
  • 11/20/2017 – Skechers USA was downgraded by analysts at Vetr from a “buy” rating to a “hold” rating. They now have a $34.87 price target on the stock.
  • 11/13/2017 – Skechers USA was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. They now have a $34.87 price target on the stock.
  • 11/6/2017 – Skechers USA was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating. They now have a $33.73 price target on the stock.

Shares of Skechers USA Inc (NYSE SKX) opened at $38.25 on Friday. The stock has a market capitalization of $6,060.00, a PE ratio of 23.61, a price-to-earnings-growth ratio of 1.28 and a beta of 0.14. Skechers USA Inc has a 52 week low of $22.31 and a 52 week high of $39.71. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.30 and a current ratio of 3.46.

Skechers USA (NYSE:SKX) last released its quarterly earnings results on Thursday, October 19th. The textile maker reported $0.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.16. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.07 billion. Skechers USA had a return on equity of 13.70% and a net margin of 6.38%. The business’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.42 EPS. equities research analysts anticipate that Skechers USA Inc will post 1.7 earnings per share for the current year.

In related news, CEO Robert Greenberg sold 500,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $37.66, for a total transaction of $18,830,000.00. Following the completion of the transaction, the chief executive officer now directly owns 267,713 shares in the company, valued at approximately $10,082,071.58. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Thomas Walsh sold 750 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $34.81, for a total value of $26,107.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 962,250 shares of company stock valued at $33,823,248. 21.73% of the stock is currently owned by corporate insiders.

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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