Skechers USA Inc (NYSE:SKX) was the target of some unusual options trading on Thursday. Stock traders purchased 19,331 call options on the stock. This is an increase of 1,669% compared to the average volume of 1,093 call options.
Skechers USA (NYSE:SKX) opened at $41.06 on Friday. The firm has a market capitalization of $7,000.00, a price-to-earnings ratio of 35.70, a PEG ratio of 1.24 and a beta of 0.20. 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 has a twelve month low of $22.64 and a twelve month high of $42.73.
Skechers USA (NYSE:SKX) last released its quarterly earnings results on Thursday, February 8th. The textile maker reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.08. The firm had revenue of $970.59 million for the quarter, compared to analysts’ expectations of $881.39 million. Skechers USA had a return on equity of 14.73% and a net margin of 4.30%. The company’s revenue was up 27.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.04 EPS. sell-side analysts predict that Skechers USA will post 2.19 earnings per share for the current fiscal year.
In related news, Director Morton D. Erlich sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $33.66, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey Greenberg sold 75,000 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $35.16, for a total value of $2,637,000.00. The disclosure for this sale can be found here. Insiders sold a total of 580,750 shares of company stock worth $21,665,988 over the last ninety days. 21.73% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of SKX. Alliancebernstein L.P. increased its stake in shares of Skechers USA by 3.6% in the 2nd quarter. Alliancebernstein L.P. now owns 82,103 shares of the textile maker’s stock worth $2,422,000 after purchasing an additional 2,820 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Skechers USA by 6.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 5,428 shares of the textile maker’s stock worth $161,000 after purchasing an additional 335 shares in the last quarter. Thrivent Financial For Lutherans increased its stake in shares of Skechers USA by 6.6% in the 2nd quarter. Thrivent Financial For Lutherans now owns 27,020 shares of the textile maker’s stock worth $797,000 after purchasing an additional 1,670 shares in the last quarter. UBS Asset Management Americas Inc. increased its stake in shares of Skechers USA by 17.6% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 102,030 shares of the textile maker’s stock worth $3,010,000 after purchasing an additional 15,284 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of Skechers USA by 0.4% in the 2nd quarter. Northern Trust Corp now owns 1,116,692 shares of the textile maker’s stock worth $32,943,000 after purchasing an additional 4,973 shares in the last quarter. Hedge funds and other institutional investors own 69.68% of the company’s stock.
Several research firms recently issued reports on SKX. Vetr raised Skechers USA from a “sell” rating to a “hold” rating and set a $39.03 price objective on the stock in a research report on Monday. Citigroup upped their price objective on Skechers USA from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Friday. Monness Crespi & Hardt upped their price objective on Skechers USA from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Friday. B. Riley set a $50.00 price objective on Skechers USA and gave the company a “buy” rating in a research report on Tuesday, February 6th. Finally, Zacks Investment Research cut Skechers USA from a “buy” rating to a “hold” rating in a report on Monday, February 5th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $41.00.
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Skechers USA 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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