Skechers USA (SKX) – Research Analysts’ Weekly Ratings Updates

Skechers USA (NYSE: SKX) recently received a number of ratings updates from brokerages and research firms:

  • 2/12/2018 – Skechers USA was upgraded by analysts at Vetr from a “sell” rating to a “hold” rating. They now have a $39.03 price target on the stock.
  • 2/12/2018 – Skechers USA was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $46.00 price target on the stock. According to Zacks, “Greater emphasis on new line of products, cost containment efforts, inventory management and global distribution platform has helped lift Skechers’ performance. The company delivered positive earnings surprise in the final quarter of 2017, marking the second straight successive beat. Notably, the spectacular performance in the back-to-back quarters has led the stock to outpace the industry in the past six months. Net sales also beat the estimate for the fifth quarter in row gaining from solid performances at the international wholesale business, company-owned global retail business and domestic wholesale business. Skechers’ domestic e-commerce business, which also contributed to sales growth, continues to gain traction. Management now expects both the top and bottom lines to increase year over year during the first quarter of 2018. However, higher general & administrative expenses remain a concern.”
  • 2/9/2018 – Skechers USA had its price target raised by analysts at Citigroup Inc from $45.00 to $50.00. They now have a “buy” rating on the stock.
  • 2/9/2018 – Skechers USA had its price target raised by analysts at Monness Crespi & Hardt from $40.00 to $50.00. They now have a “buy” rating on the stock.
  • 2/6/2018 – Skechers USA was given a new $50.00 price target on by analysts at B. Riley. They now have a “buy” rating on the stock.
  • 2/5/2018 – Skechers USA was upgraded by analysts at Vetr from a “sell” rating to a “hold” rating. They now have a $39.03 price target on the stock.
  • 2/5/2018 – Skechers USA was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. 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.”
  • 2/2/2018 – Skechers USA was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 1/31/2018 – Skechers USA had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $45.00 price target on the stock.
  • 1/30/2018 – Skechers USA was upgraded by analysts at Vetr from a “sell” rating to a “hold” rating. They now have a $39.03 price target on the stock.
  • 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.

Skechers USA Inc (NYSE SKX) opened at $40.37 on Thursday. Skechers USA Inc has a 1-year low of $22.64 and a 1-year high of $42.73. The firm has a market cap of $6,362.57, a P/E ratio of 35.41, a P/E/G ratio of 1.25 and a beta of 0.20. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.52 and a quick ratio of 2.06.

Skechers USA (NYSE:SKX) last announced its quarterly earnings data on Thursday, February 8th. The textile maker reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.08. Skechers USA had a net margin of 4.30% and a return on equity of 14.63%. The company had revenue of $970.59 million during the quarter, compared to analyst estimates of $881.39 million. During the same period in the previous year, the business earned $0.04 EPS. The firm’s revenue for the quarter was up 27.0% on a year-over-year basis. analysts anticipate that Skechers USA Inc will post 2.3 earnings per share for the current year.

In other Skechers USA news, Director Morton D. Erlich sold 4,000 shares of Skechers USA stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $33.66, for a total value of $134,640.00. Following the completion of the sale, the director now owns 12,000 shares of the company’s stock, valued at approximately $403,920. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Richard Rappaport sold 1,000 shares of Skechers USA stock in a transaction that occurred 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 completion of the sale, the director now directly owns 19,000 shares of the company’s stock, valued at approximately $726,560. The disclosure for this sale can be found here. In the last ninety days, insiders sold 580,750 shares of company stock valued at $21,665,988. 21.73% of the stock is currently owned by 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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