Brokerages Set Skechers USA Inc (NYSE:SKX) PT at $39.10

Shares of Skechers USA Inc (NYSE:SKX) have been given a consensus rating of “Hold” by the seventeen brokerages that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $39.10.

A number of equities research analysts have commented on the company. Wedbush upgraded Skechers USA from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $31.00 to $46.00 in a research report on Friday, July 19th. Wells Fargo & Co set a $40.00 target price on shares of Skechers USA and gave the company a “hold” rating in a research report on Friday, July 19th. ValuEngine raised shares of Skechers USA from a “sell” rating to a “hold” rating in a research note on Thursday, September 5th. Morgan Stanley lifted their price target on shares of Skechers USA from $29.00 to $34.00 and gave the company an “equal weight” rating in a research report on Friday, July 19th. Finally, Stifel Nicolaus boosted their price target on shares of Skechers USA from $35.00 to $44.00 and gave the company a “buy” rating in a research note on Friday, July 19th.

In related news, Director Richard Rappaport sold 3,000 shares of Skechers USA stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $31.29, for a total value of $93,870.00. Following the completion of the transaction, the director now owns 23,000 shares in the company, valued at $719,670. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas Walsh sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $39.77, for a total transaction of $59,655.00. Following the sale, the director now directly owns 15,500 shares in the company, valued at $616,435. The disclosure for this sale can be found here. Insiders have sold a total of 184,500 shares of company stock valued at $7,079,925 over the last 90 days. 28.08% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of the business. Atria Investments LLC purchased a new stake in shares of Skechers USA during the second quarter worth $346,000. Treasurer of the State of North Carolina raised its stake in shares of Skechers USA by 2.8% in the second quarter. Treasurer of the State of North Carolina now owns 60,382 shares of the textile maker’s stock valued at $1,901,000 after acquiring an additional 1,660 shares in the last quarter. Nomura Holdings Inc. boosted its holdings in Skechers USA by 92.6% in the second quarter. Nomura Holdings Inc. now owns 19,975 shares of the textile maker’s stock valued at $639,000 after purchasing an additional 9,605 shares during the period. BlackRock Inc. boosted its holdings in Skechers USA by 0.9% in the second quarter. BlackRock Inc. now owns 11,776,053 shares of the textile maker’s stock valued at $370,827,000 after purchasing an additional 104,462 shares during the period. Finally, Maverick Capital Ltd. acquired a new position in Skechers USA during the 2nd quarter worth $16,723,000. 76.32% of the stock is owned by institutional investors.

Shares of NYSE SKX traded up $0.55 during midday trading on Friday, reaching $36.32. 9,249 shares of the stock were exchanged, compared to its average volume of 2,138,741. The stock has a market capitalization of $5.60 billion, a P/E ratio of 18.94, a PEG ratio of 1.07 and a beta of 0.81. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.65 and a current ratio of 2.51. The company has a 50 day simple moving average of $33.65 and a 200 day simple moving average of $32.33. Skechers USA has a twelve month low of $21.45 and a twelve month high of $40.50.

Skechers USA (NYSE:SKX) last released its quarterly earnings data on Thursday, July 18th. The textile maker reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.16. The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.23 billion. Skechers USA had a return on equity of 14.59% and a net margin of 6.72%. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.29 earnings per share. On average, research analysts expect that Skechers USA will post 2.25 earnings per share for the current year.

Skechers USA Company Profile

Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children; and performance footwear for men and women under the Skechers GO brand worldwide. It operates through three segments: Domestic Wholesale Sales, International Wholesale Sales, and Retail Sales. The company offers casual boots, shoes, and sandals for men; shoes, oxfords and slip-ons, lug outsole and fashion boots, and casual sandals for women; dress casuals, seasonal sandals and boots, classic and wide fit, and relaxed fit casuals for men and women; and casual athletic line for men and women under the Skechers USA brand.

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Analyst Recommendations for Skechers USA (NYSE:SKX)

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