Skechers USA (NYSE:SKX) has been assigned a $42.00 target price by Cowen in a research report issued on Monday. The firm currently has a “buy” rating on the textile maker’s stock. Cowen’s price objective would suggest a potential upside of 10.61% from the company’s current price.
Other equities analysts have also issued research reports about the company. Susquehanna Bancshares reiterated a “buy” rating on shares of Skechers USA in a research note on Friday, October 20th. B. Riley set a $37.00 target price on Skechers USA and gave the stock a “buy” rating in a research note on Friday, October 20th. Buckingham Research reiterated a “buy” rating and set a $32.00 target price (down previously from $34.00) on shares of Skechers USA in a research note on Monday, September 25th. Monness Crespi & Hardt increased their target price on Skechers USA from $33.00 to $34.00 and gave the stock a “buy” rating in a research note on Friday, October 20th. Finally, Vetr upgraded Skechers USA from a “hold” rating to a “buy” rating and set a $33.73 target price on the stock in a research note on Tuesday, October 31st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $36.80.
Skechers USA (NYSE SKX) opened at $37.97 on Monday. The firm has a market capitalization of $6,042.46, a P/E ratio of 23.68, a PEG ratio of 1.60 and a beta of 0.15. 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 52 week low of $22.31 and a 52 week high of $38.41.
In other Skechers USA news, Director Jeffrey Greenberg sold 75,000 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $35.16, for a total transaction of $2,637,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Michael Greenberg sold 150,000 shares of the firm’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $31.86, for a total value of $4,779,000.00. Following the transaction, the president now owns 251,679 shares in the company, valued at approximately $8,018,492.94. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 461,250 shares of company stock worth $14,955,008. Corporate insiders own 38.20% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the business. Alps Advisors Inc. increased its stake in Skechers USA by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 18,304 shares of the textile maker’s stock worth $540,000 after acquiring an additional 47 shares during the period. Utah Retirement Systems increased its stake in Skechers USA by 1.3% during the 2nd quarter. Utah Retirement Systems now owns 24,000 shares of the textile maker’s stock worth $708,000 after acquiring an additional 300 shares during the period. PNC Financial Services Group Inc. increased 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 worth $161,000 after acquiring an additional 335 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased 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 worth $136,000 after acquiring an additional 503 shares during the period. Finally, Great West Life Assurance Co. Can increased its stake in Skechers USA by 0.6% during the 2nd quarter. Great West Life Assurance Co. Can now owns 80,310 shares of the textile maker’s stock worth $2,367,000 after acquiring an additional 503 shares during the period. Hedge funds and other institutional investors own 70.08% of the company’s stock.
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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.
