Weekly Analysts’ Ratings Updates for Skechers USA (SKX)

A number of research firms have changed their ratings and price targets for Skechers USA (NYSE: SKX):

  • 1/22/2018 – Skechers USA was downgraded by analysts at Vetr from a “hold” rating to a “sell” rating. They now have a $38.81 price target on the stock.
  • 1/17/2018 – Skechers USA had its price target raised by analysts at Citigroup Inc from $34.00 to $45.00. They now have a “buy” rating on the stock.
  • 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.

Skechers USA Inc (NYSE:SKX) traded up $0.75 during midday trading on Monday, hitting $40.37. 1,936,400 shares of the company were exchanged, compared to its average volume of 1,801,185. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.46 and a quick ratio of 2.30. The stock has a market cap of $6,420.00, a P/E ratio of 24.92, a price-to-earnings-growth ratio of 1.32 and a beta of 0.14. Skechers USA Inc has a 1 year low of $22.31 and a 1 year high of $40.45.

In other Skechers USA news, Director Morton D. Erlich sold 4,000 shares of the firm’s stock in a transaction on Thursday, November 22nd. The shares were sold at an average price of $33.66, for a total transaction of $134,640.00. Following the transaction, the director now directly owns 12,000 shares of the company’s stock, valued at approximately $403,920. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard Rappaport sold 1,000 shares of the firm’s stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $38.24, for a total transaction of $38,240.00. Following the transaction, the director now directly owns 19,000 shares in the company, valued at $726,560. The disclosure for this sale can be found here. Insiders sold a total of 786,250 shares of company stock worth $28,248,288 over the last ninety days. Insiders own 38.20% 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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