Skechers USA (SKX) Rating Reiterated by Susquehanna Bancshares

Skechers USA (NYSE:SKX)‘s stock had its “buy” rating reissued by analysts at Susquehanna Bancshares in a research report issued to clients and investors on Monday. They currently have a $46.00 price target on the textile maker’s stock. Susquehanna Bancshares’ target price indicates a potential upside of 33.76% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the stock. Monness Crespi & Hardt upped their price target on shares of Skechers USA from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, December 1st. Vetr raised shares of Skechers USA from a “hold” rating to a “buy” rating and set a $37.55 price target for the company in a research report on Tuesday, November 28th. Cowen reaffirmed a “buy” rating and issued a $38.00 price target on shares of Skechers USA in a research report on Friday, November 3rd. Zacks Investment Research raised shares of Skechers USA from a “sell” rating to a “hold” rating and set a $38.00 price target for the company in a research report on Monday, October 23rd. Finally, Buckingham Research set a $36.00 price target on shares of Skechers USA and gave the stock a “buy” rating in a research report on Friday, October 20th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company’s stock. Skechers USA currently has a consensus rating of “Buy” and a consensus price target of $36.46.

Skechers USA (SKX) opened at $34.39 on Monday. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.46 and a quick ratio of 2.30. The company has a market cap of $5,617.76, a PE ratio of 22.02, a price-to-earnings-growth ratio of 1.49 and a beta of 0.15. Skechers USA has a one year low of $22.31 and a one year high of $36.43.

Skechers USA (NYSE:SKX) last issued its earnings results on Thursday, October 19th. The textile maker reported $0.59 EPS for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.16. The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.07 billion. Skechers USA had a net margin of 6.38% and a return on equity of 13.70%. The company’s revenue for the quarter was up 16.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.42 EPS. sell-side analysts anticipate that Skechers USA will post 1.71 earnings per share for the current fiscal year.

In related news, Director Thomas Walsh sold 750 shares of the stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $34.81, for a total transaction of $26,107.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey Greenberg sold 180,000 shares of the stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $31.72, for a total transaction of $5,709,600.00. The disclosure for this sale can be found here. Insiders sold a total of 461,250 shares of company stock valued at $14,955,008 in the last ninety days. Corporate insiders own 38.20% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. Alps Advisors Inc. lifted its position in Skechers USA by 0.3% during the second quarter. Alps Advisors Inc. now owns 18,304 shares of the textile maker’s stock valued at $540,000 after acquiring an additional 47 shares during the last quarter. Utah Retirement Systems lifted its position in Skechers USA by 1.3% during the second quarter. Utah Retirement Systems now owns 24,000 shares of the textile maker’s stock valued at $708,000 after acquiring an additional 300 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Skechers USA by 6.6% during the second quarter. PNC Financial Services Group Inc. now owns 5,428 shares of the textile maker’s stock valued at $161,000 after acquiring an additional 335 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Skechers USA by 12.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,594 shares of the textile maker’s stock valued at $136,000 after acquiring an additional 503 shares during the last quarter. Finally, Great West Life Assurance Co. Can lifted its position in Skechers USA by 0.6% during the second quarter. Great West Life Assurance Co. Can now owns 80,310 shares of the textile maker’s stock valued at $2,367,000 after acquiring an additional 503 shares during the last quarter. 70.13% of the stock is owned by institutional investors.

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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.

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