Susquehanna Bancshares Inc reissued their positive rating on shares of Skechers U.S.A., Inc. (NYSE:SKX) in a research report report published on Sunday, July 23rd. The firm currently has a $34.00 price target on the textile maker’s stock, up from their prior price target of $32.00.
A number of other analysts also recently issued reports on the stock. B. Riley restated a buy rating and set a $32.00 price target on shares of Skechers U.S.A. in a report on Wednesday, April 26th. Citigroup Inc. cut their price target on shares of Skechers U.S.A. from $30.00 to $25.00 and set a positive rating for the company in a report on Wednesday, March 29th. UBS AG upgraded shares of Skechers U.S.A. from a neutral rating to a positive rating in a report on Monday, June 5th. Zacks Investment Research downgraded shares of Skechers U.S.A. from a hold rating to a sell rating in a report on Wednesday, April 12th. Finally, Vetr upgraded shares of 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. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $31.10.
Shares of Skechers U.S.A. (NYSE:SKX) traded down 1.64% during midday trading on Friday, reaching $26.95. The company had a trading volume of 2,883,019 shares. The stock has a 50-day moving average of $28.45 and a 200 day moving average of $26.59. The firm has a market capitalization of $4.27 billion, a price-to-earnings ratio of 18.69 and a beta of 0.18. Skechers U.S.A. has a 52 week low of $18.81 and a 52 week high of $30.00.
Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings data on Thursday, July 20th. The textile maker reported $0.38 EPS for the quarter, missing the Zacks’ consensus estimate of $0.44 by $0.06. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $966.46 million. Skechers U.S.A. had a net margin of 5.92% and a return on equity of 12.79%. The firm’s revenue was up 16.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.48 EPS. On average, analysts anticipate that Skechers U.S.A. will post $1.57 earnings per share for the current year.
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In other news, Director Richard Rappaport sold 1,500 shares of Skechers U.S.A. stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $28.38, for a total transaction of $42,570.00. Following the completion of the sale, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $567,600. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 21.73% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in SKX. Seven Eight Capital LP bought a new stake in shares of Skechers U.S.A. during the second quarter valued at approximately $105,000. Tower Research Capital LLC TRC raised 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 worth $106,000 after buying an additional 3,120 shares in the last quarter. US Bancorp DE raised 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 worth $107,000 after buying an additional 1,897 shares in the last quarter. Aviance Capital Management LLC acquired a new position in Skechers U.S.A. during the second quarter worth approximately $109,000. Finally, Exane Derivatives acquired a new position in Skechers U.S.A. during the second quarter worth approximately $118,000. Hedge funds and other institutional investors own 67.86% of the company’s stock.
About Skechers U.S.A.
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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