Skechers USA Inc (SKX) Receives Consensus Rating of “Hold” from Analysts

Skechers USA Inc (NYSE:SKX) has been assigned an average recommendation of “Hold” from the seventeen analysts that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $36.80.

Several research analysts have issued reports on SKX shares. Vetr lowered shares of Skechers USA from a “strong-buy” rating to a “hold” rating and set a $33.73 price target for the company. in a report on Monday, October 23rd. Susquehanna Bancshares reaffirmed a “buy” rating and set a $34.00 price objective on shares of Skechers USA in a research report on Tuesday, October 10th. Wells Fargo & Company raised their price objective on shares of Skechers USA from $33.00 to $36.00 and gave the stock a “market perform” rating in a research report on Friday, October 20th. Cowen reaffirmed a “buy” rating and set a $38.00 price objective on shares of Skechers USA in a research report on Friday, November 3rd. Finally, Zacks Investment Research downgraded shares of Skechers USA from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th.

In other news, Director Jeffrey Greenberg sold 75,000 shares of the company’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $35.16, for a total transaction of $2,637,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Robert Greenberg sold 500,000 shares of the company’s stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $37.66, for a total value of $18,830,000.00. Following the sale, the chief executive officer now owns 267,713 shares in the company, valued at $10,082,071.58. The disclosure for this sale can be found here. Insiders have sold a total of 961,250 shares of company stock worth $33,785,008 over the last quarter. Company insiders own 21.73% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Seven Eight Capital LP purchased a new position in shares of Skechers USA during the second quarter worth about $105,000. Aviance Capital Management LLC purchased a new position in shares of Skechers USA during the second quarter worth about $109,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Skechers USA by 12.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,594 shares of the textile maker’s stock worth $136,000 after purchasing an additional 503 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of 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 worth $161,000 after purchasing an additional 335 shares in the last quarter. Finally, Intact Investment Management Inc. purchased a new position in shares of Skechers USA during the second quarter worth about $206,000. Hedge funds and other institutional investors own 70.08% of the company’s stock.

Skechers USA (SKX) traded up $0.64 during trading on Friday, reaching $38.22. 3,044,100 shares of the company’s stock traded hands, compared to its average volume of 2,760,310. The company has a current ratio of 3.46, a quick ratio of 2.30 and a debt-to-equity ratio of 0.04. Skechers USA has a 52-week low of $22.31 and a 52-week high of $38.41. The company has a market cap of $5,955.30, a price-to-earnings ratio of 23.34, a price-to-earnings-growth ratio of 1.58 and a beta of 0.15.

Skechers USA (NYSE:SKX) last released its quarterly earnings results on Thursday, October 19th. The textile maker reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.16. Skechers USA had a net margin of 6.38% and a return on equity of 13.70%. The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the business earned $0.42 EPS. The company’s revenue was up 16.2% compared to the same quarter last year. equities research analysts expect that Skechers USA will post 1.7 EPS for the current fiscal year.

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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.

Analyst Recommendations for Skechers USA (NYSE:SKX)

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