Skechers USA Inc (NYSE:SKX) has been assigned an average recommendation of “Buy” from the seventeen research firms that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $37.96.

Several equities analysts recently commented on the stock. Susquehanna Bancshares reaffirmed a “buy” rating on shares of Skechers USA in a research report on Friday, October 20th. B. Riley set a $37.00 price target on shares of Skechers USA and gave the stock a “buy” rating in a research report on Friday, October 20th. Cowen set a $36.00 price target on shares of Skechers USA and gave the stock a “buy” rating in a research report on Friday, October 20th. Buckingham Research reaffirmed a “buy” rating and set a $32.00 price target (down previously from $34.00) on shares of Skechers USA in a research report on Monday, September 25th. Finally, Monness Crespi & Hardt boosted their price objective on shares of Skechers USA from $33.00 to $34.00 and gave the stock a “buy” rating in a research note on Friday, October 20th.

Skechers USA (NYSE:SKX) traded down $0.14 during trading hours on Tuesday, hitting $38.55. 1,525,500 shares of the stock were exchanged, compared to its average volume of 1,618,056. The company has a current ratio of 3.46, a quick ratio of 2.30 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $6,070.00, a price-to-earnings ratio of 23.80, a PEG ratio of 1.26 and a beta of 0.14. Skechers USA has a twelve month low of $22.31 and a twelve month high of $39.71.

Skechers USA (NYSE:SKX) last posted its quarterly earnings data on Thursday, October 19th. The textile maker reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.16. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.07 billion. Skechers USA had a net margin of 6.38% and a return on equity of 13.70%. The company’s revenue was up 16.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.42 earnings per share. equities analysts expect that Skechers USA will post 1.71 earnings per share for the current year.

In other news, Director Jeffrey Greenberg sold 180,000 shares of the company’s stock in a transaction on Friday, October 20th. The shares were sold at an average price of $31.72, for a total value of $5,709,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas Walsh sold 750 shares of the stock in a transaction on Monday, November 27th. The shares were sold at an average price of $34.81, for a total transaction of $26,107.50. The disclosure for this sale can be found here. Insiders sold 962,250 shares of company stock valued at $33,823,248 over the last 90 days. Insiders own 38.20% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Seven Eight Capital LP bought a new position in Skechers USA during the 2nd quarter valued at $105,000. Aviance Capital Management LLC bought a new position in Skechers USA during the 2nd quarter valued at $109,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Skechers USA by 12.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,594 shares of the textile maker’s stock valued at $136,000 after acquiring an additional 503 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Skechers USA 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 acquiring an additional 335 shares during the last quarter. Finally, Private Advisor Group LLC boosted its stake in Skechers USA by 10.0% during the 2nd quarter. Private Advisor Group LLC now owns 8,751 shares of the textile maker’s stock valued at $254,000 after acquiring an additional 798 shares during the last quarter. Hedge funds and other institutional investors own 70.12% of the company’s stock.

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About Skechers USA

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 USA (NYSE:SKX)

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