Skechers U.S.A., Inc. (NYSE:SKX) had its price objective lifted by Citigroup Inc. from $30.00 to $34.00 in a research report sent to investors on Friday, July 21st. Citigroup Inc. currently has a buy rating on the textile maker’s stock.
SKX has been the subject of several other research reports. Cowen and Company upgraded shares of Skechers U.S.A. from a market perform rating to an outperform rating and set a $35.00 target price for the company in a report on Friday, March 24th. Vetr upgraded shares of Skechers U.S.A. from a hold rating to a buy rating and set a $32.12 target price for the company in a report on Monday, July 10th. OTR Global upgraded shares of Skechers U.S.A. from a mixed rating to a positive rating in a report on Tuesday, July 18th. Susquehanna Bancshares Inc upgraded shares of Skechers U.S.A. from a neutral rating to a positive rating and upped their target price for the company from $25.00 to $32.00 in a report on Monday, June 5th. Finally, UFS restated a sell rating and issued a $25.00 target price on shares of Skechers U.S.A. in a report on Wednesday, March 29th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $31.10.
Shares of Skechers U.S.A. (NYSE SKX) traded down 1.6698% during trading on Friday, hitting $27.4538. 946,272 shares of the stock were exchanged. Skechers U.S.A. has a one year low of $18.81 and a one year high of $30.00. The stock’s 50 day moving average price is $28.56 and its 200-day moving average price is $26.57. The company has a market cap of $4.35 billion, a price-to-earnings ratio of 19.0387 and a beta of 0.18.
Skechers U.S.A. (NYSE:SKX) last issued its earnings results on Thursday, July 20th. The textile maker reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by $0.06. Skechers U.S.A. had a net margin of 5.92% and a return on equity of 12.79%. The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $966.46 million. During the same quarter in the previous year, the company posted $0.48 EPS. The company’s quarterly revenue was up 16.9% on a year-over-year basis. On average, analysts predict that Skechers U.S.A. will post $1.57 EPS for the current year.
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In other Skechers U.S.A. news, Director Richard Rappaport sold 1,500 shares of the company’s stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $28.38, for a total transaction of $42,570.00. Following the completion of the transaction, the director now owns 20,000 shares in the company, valued at approximately $567,600. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 21.73% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the company. Alps Advisors Inc. increased its position in shares of Skechers U.S.A. by 0.3% in the second quarter. Alps Advisors Inc. now owns 18,304 shares of the textile maker’s stock worth $540,000 after buying an additional 47 shares during the last quarter. Northwestern Mutual Investment Management Company LLC increased its position in shares of Skechers U.S.A. by 0.3% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 23,053 shares of the textile maker’s stock worth $633,000 after buying an additional 75 shares during the last quarter. Prescott Group Capital Management L.L.C. increased its position in shares of Skechers U.S.A. by 0.3% in the first quarter. Prescott Group Capital Management L.L.C. now owns 32,100 shares of the textile maker’s stock worth $881,000 after buying an additional 100 shares during the last quarter. Utah Retirement Systems increased its position in shares of Skechers U.S.A. by 0.4% in the first quarter. Utah Retirement Systems now owns 23,700 shares of the textile maker’s stock worth $651,000 after buying an additional 100 shares during the last quarter. Finally, IFP Advisors Inc increased its position in shares of Skechers U.S.A. by 2.0% in the first quarter. IFP Advisors Inc now owns 7,409 shares of the textile maker’s stock worth $203,000 after buying an additional 147 shares during the last quarter. Institutional investors own 67.86% of the company’s stock.
Skechers U.S.A. 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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