Wedbush reissued their neutral rating on shares of Skechers U.S.A., Inc. (NYSE:SKX) in a report issued on Monday, July 24th.
Several other equities research analysts have also recently commented on SKX. UBS AG raised Skechers U.S.A. from a neutral rating to a positive rating in a research note on Monday, June 5th. B. Riley restated a buy rating and issued a $32.00 target price on shares of Skechers U.S.A. in a report on Wednesday, April 26th. BidaskClub lowered Skechers U.S.A. from a buy rating to a hold rating in a report on Thursday, July 13th. Cowen and Company set a $35.00 target price on Skechers U.S.A. and gave the stock a buy rating in a report on Saturday, July 22nd. Finally, Morgan Stanley boosted their target price on Skechers U.S.A. from $25.00 to $26.00 and gave the stock an equal weight rating in a report on Tuesday, June 6th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $31.10.
Skechers U.S.A. (NYSE:SKX) traded up 0.65% on Monday, reaching $27.94. 1,011,897 shares of the company traded hands. The firm has a 50 day moving average price of $28.41 and a 200 day moving average price of $26.34. The stock has a market capitalization of $4.35 billion, a price-to-earnings ratio of 19.38 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 announced its quarterly earnings results on Thursday, July 20th. The textile maker reported $0.38 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by $0.06. The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $966.46 million. Skechers U.S.A. had a net margin of 5.92% and a return on equity of 12.79%. The company’s quarterly revenue was up 16.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.48 EPS. Equities research analysts predict that Skechers U.S.A. will post $1.57 EPS for the current year.
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In related news, Director Richard Rappaport sold 1,500 shares of the company’s stock in a transaction on Friday, June 23rd. The stock was 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 directly owns 20,000 shares in the company, valued at $567,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 21.73% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of SKX. Tower Research Capital LLC TRC raised its position in shares of 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 during the last quarter. US Bancorp DE raised its position in shares of 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 during the last quarter. Exane Derivatives purchased a new position in shares of Skechers U.S.A. during the second quarter worth approximately $118,000. Neuburgh Advisers LLC raised its position in shares of Skechers U.S.A. by 3.8% in the first quarter. Neuburgh Advisers LLC now owns 4,796 shares of the textile maker’s stock worth $132,000 after buying an additional 176 shares during the last quarter. Finally, NINE MASTS CAPITAL Ltd purchased a new position in shares of Skechers U.S.A. during the first quarter worth approximately $137,000. Institutional investors and hedge funds own 65.00% of the company’s stock.
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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