Skechers USA (NYSE:SKX) was upgraded by analysts at Argus from a “hold” rating to a “buy” rating in a research note issued to investors on Friday, The Fly reports.
Other equities research analysts also recently issued research reports about the stock. Vetr downgraded shares of Skechers USA from a “buy” rating to a “hold” rating and set a $37.55 price objective for the company. in a research report on Monday. Cowen set a $42.00 price objective on shares of Skechers USA and gave the company a “buy” rating in a research report on Monday. Susquehanna Bancshares restated a “buy” rating and issued a $46.00 price objective on shares of Skechers USA in a research report on Monday, December 4th. Monness Crespi & Hardt raised their price objective on shares of Skechers USA from $34.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, December 1st. Finally, Zacks Investment Research upgraded shares of Skechers USA from a “sell” rating to a “hold” rating and set a $38.00 price objective for the company in a research report on Monday, October 23rd. Two analysts have rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the stock. Skechers USA currently has an average rating of “Hold” and an average price target of $36.80.
Shares of Skechers USA (SKX) opened at $36.92 on Friday. Skechers USA has a 12 month low of $22.31 and a 12 month high of $37.66. The firm has a market cap of $5,815.85, a PE ratio of 22.80, a PEG ratio of 1.54 and a beta of 0.15. The company has a current ratio of 3.46, a quick ratio of 2.30 and a debt-to-equity ratio of 0.04.
In other news, Director Richard Siskind sold 25,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $33.40, for a total transaction of $851,700.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey Greenberg sold 180,000 shares of the firm’s stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $31.72, for a total transaction of $5,709,600.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 461,250 shares of company stock valued at $14,955,008. Corporate insiders own 21.73% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of SKX. BlackRock Inc. grew its stake in Skechers USA by 3,136.5% in the 1st quarter. BlackRock Inc. now owns 11,190,173 shares of the textile maker’s stock worth $307,170,000 after acquiring an additional 10,844,421 shares during the period. Vanguard Group Inc. grew its stake in Skechers USA by 211.4% in the 4th quarter. Vanguard Group Inc. now owns 10,454,998 shares of the textile maker’s stock worth $315,845,000 after acquiring an additional 7,098,035 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Skechers USA by 120.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,842,166 shares of the textile maker’s stock valued at $116,075,000 after buying an additional 2,096,640 shares during the period. Mik Capital LLC purchased a new stake in shares of Skechers USA during the 2nd quarter valued at $56,285,000. Finally, Fiera Capital Corp grew its stake in shares of Skechers USA by 10,690.6% during the 2nd quarter. Fiera Capital Corp now owns 1,898,281 shares of the textile maker’s stock valued at $56,417,000 after buying an additional 1,880,689 shares during the period. 70.13% of the stock is owned by institutional investors and hedge funds.
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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.
