Skechers U.S.A.’s (SKX) Buy Rating Reiterated at Susquehanna Bancshares Inc

Susquehanna Bancshares Inc reissued their buy rating on shares of Skechers U.S.A., Inc. (NYSE:SKX) in a research report sent to investors on Tuesday. Susquehanna Bancshares Inc currently has a $34.00 price target on the textile maker’s stock.

A number of other analysts also recently commented on the stock. Vetr downgraded shares of Skechers U.S.A. from a hold rating to a sell rating and set a $26.50 target price on the stock. in a report on Monday, June 12th. Zacks Investment Research downgraded shares of Skechers U.S.A. from a hold rating to a sell rating in a report on Thursday, July 27th. Citigroup Inc. boosted their target price on shares of Skechers U.S.A. from $30.00 to $34.00 and gave the stock a buy rating in a report on Friday, July 21st. Buckingham Research set a $34.00 target price on shares of Skechers U.S.A. and gave the stock a buy rating in a report on Saturday, July 22nd. Finally, BidaskClub upgraded shares of Skechers U.S.A. from a hold rating to a buy rating in a report on Friday, June 30th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company. Skechers U.S.A. presently has a consensus rating of Hold and a consensus price target of $31.02.

Shares of Skechers U.S.A. (NYSE:SKX) traded up 0.390% on Tuesday, reaching $24.485. 728,391 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $25.68 and its 200-day moving average price is $26.54. Skechers U.S.A. has a 1-year low of $18.81 and a 1-year high of $30.00. The company has a market capitalization of $3.88 billion, a P/E ratio of 16.980 and a beta of 0.19.

Skechers U.S.A. (NYSE:SKX) last released its earnings results on Thursday, July 20th. The textile maker reported $0.38 EPS 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 business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $966.46 million. During the same quarter in the previous year, the firm earned $0.48 earnings per share. The firm’s revenue for the quarter was up 16.9% compared to the same quarter last year. Analysts anticipate that Skechers U.S.A. will post $1.57 EPS for the current fiscal year.

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In other news, General Counsel Phillip Paccione sold 1,004 shares of Skechers U.S.A. stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $27.24, for a total value of $27,348.96. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 21.73% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Kennedy Capital Management Inc. grew its position in Skechers U.S.A. by 20.5% during the second quarter. Kennedy Capital Management Inc. now owns 643,198 shares of the textile maker’s stock valued at $18,974,000 after purchasing an additional 109,441 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in Skechers U.S.A. by 94.5% during the second quarter. BNP Paribas Arbitrage SA now owns 58,963 shares of the textile maker’s stock valued at $1,739,000 after purchasing an additional 28,646 shares in the last quarter. Aristotle Fund L.P. grew its position in Skechers U.S.A. by 8.2% during the second quarter. Aristotle Fund L.P. now owns 519,700 shares of the textile maker’s stock valued at $15,331,000 after purchasing an additional 39,200 shares in the last quarter. BlackRock Inc. grew its position in Skechers U.S.A. by 3,136.5% during the first quarter. BlackRock Inc. now owns 11,190,173 shares of the textile maker’s stock valued at $307,170,000 after purchasing an additional 10,844,421 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in Skechers U.S.A. by 3.8% during the second quarter. Principal Financial Group Inc. now owns 568,669 shares of the textile maker’s stock valued at $16,776,000 after purchasing an additional 20,829 shares in the last quarter. 70.52% of the stock is currently owned by hedge funds and other institutional investors.

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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