Skechers U.S.A., Inc. (NYSE:SKX) Downgraded by BidaskClub to Sell

Skechers U.S.A., Inc. (NYSE:SKX) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Friday, August 4th.

A number of other research firms have also commented on SKX. Vetr lowered shares of Skechers U.S.A. from a “strong-buy” rating to a “buy” rating and set a $32.17 price objective on the stock. in a research note on Tuesday, July 25th. OTR Global upgraded shares of Skechers U.S.A. from a “mixed” rating to a “positive” rating in a research note on Tuesday, July 18th. Zacks Investment Research lowered shares of Skechers U.S.A. from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Citigroup Inc. raised their price objective on shares of Skechers U.S.A. from $30.00 to $34.00 and gave the company a “buy” rating in a research note on Friday, July 21st. Finally, Buckingham Research set a $34.00 price objective on shares of Skechers U.S.A. and gave the company a “buy” rating in a research note on Saturday, July 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $31.10.

Shares of Skechers U.S.A. (NYSE:SKX) opened at 26.95 on Friday. The stock’s 50 day moving average price is $28.45 and its 200 day moving average price is $26.59. The stock has a market cap 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 posted 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. Skechers U.S.A. had a net margin of 5.92% and a return on equity of 12.79%. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $966.46 million. During the same quarter in the prior year, the business earned $0.48 EPS. Skechers U.S.A.’s revenue was up 16.9% compared to the same quarter last year. Equities research analysts anticipate that Skechers U.S.A. will post $1.57 EPS for the current fiscal year.

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In related news, Director Richard Rappaport sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of $28.38, for a total value of $42,570.00. Following the completion of the transaction, the director now owns 20,000 shares of the company’s stock, valued at approximately $567,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 21.73% of the company’s stock.

A number of institutional investors have recently bought and sold shares of SKX. Seven Eight Capital LP purchased a new position in Skechers U.S.A. during the second quarter worth approximately $105,000. Aviance Capital Management LLC purchased a new position in Skechers U.S.A. during the second quarter worth approximately $109,000. 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. Finally, Exane Derivatives purchased a new position in Skechers U.S.A. during the second quarter worth approximately $118,000. 67.86% of the stock is owned by hedge funds and other 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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