Susquehanna Bancshares Inc reissued their positive rating on shares of Skechers U.S.A., Inc. (NYSE:SKX) in a report issued on Sunday, July 23rd. They currently have a $34.00 price target on the textile maker’s stock, up from their prior price target of $32.00.
Other analysts have also recently issued reports about the company. B. Riley reaffirmed a buy rating and set a $32.00 price objective on shares of Skechers U.S.A. in a research report on Wednesday, April 26th. Citigroup Inc. decreased their price objective on Skechers U.S.A. from $30.00 to $25.00 and set a positive rating for the company in a research report on Wednesday, March 29th. UBS AG raised Skechers U.S.A. from a neutral rating to a positive rating in a research report on Monday, June 5th. Zacks Investment Research cut Skechers U.S.A. from a hold rating to a sell rating in a research report on Wednesday, April 12th. Finally, Vetr raised Skechers U.S.A. from a hold rating to a buy rating and set a $26.28 price target for the company in a report on Wednesday, April 12th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company’s stock. Skechers U.S.A. has a consensus rating of Buy and a consensus price target of $31.10.
Shares of Skechers U.S.A. (NYSE:SKX) traded up 2.52% on Friday, reaching $29.33. The company’s stock had a trading volume of 2,117,808 shares. The company has a market capitalization of $4.65 billion, a price-to-earnings ratio of 20.34 and a beta of 0.18. The stock has a 50-day moving average price of $28.61 and a 200-day moving average price of $26.50. Skechers U.S.A. has a 1-year low of $18.81 and a 1-year high of $30.00.
Skechers U.S.A. (NYSE:SKX) last posted its quarterly earnings data on Thursday, July 20th. The textile maker reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by $0.06. Skechers U.S.A. had a return on equity of 12.79% and a net margin of 5.92%. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $966.46 million. During the same period in the previous year, the business posted $0.48 earnings per share. The firm’s revenue was up 16.9% compared to the same quarter last year. On average, equities research analysts forecast that Skechers U.S.A. will post $1.57 EPS for the current year.
In other Skechers U.S.A. news, Director Richard Rappaport sold 1,500 shares of the firm’s stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $28.38, for a total transaction of $42,570.00. Following the completion of the transaction, the director now owns 20,000 shares of the company’s stock, valued at $567,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 21.73% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Seven Eight Capital LP bought a new position in Skechers U.S.A. during the second quarter valued at $105,000. Tower Research Capital LLC TRC increased its position in Skechers U.S.A. by 430.9% in the first quarter. Tower Research Capital LLC TRC now owns 3,844 shares of the textile maker’s stock valued at $106,000 after buying an additional 3,120 shares during the last quarter. US Bancorp DE increased its position in Skechers U.S.A. by 94.9% in the first quarter. US Bancorp DE now owns 3,895 shares of the textile maker’s stock valued at $107,000 after buying an additional 1,897 shares during the last quarter. Exane Derivatives bought a new position in Skechers U.S.A. during the second quarter valued at $118,000. Finally, Neuburgh Advisers LLC increased its position in Skechers U.S.A. by 3.8% in the first quarter. Neuburgh Advisers LLC now owns 4,796 shares of the textile maker’s stock valued at $132,000 after buying an additional 176 shares during the last quarter. 65.11% of the stock is owned by institutional investors.
Skechers U.S.A. 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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