Susquehanna Bancshares Inc restated their positive rating on shares of Skechers U.S.A., Inc. (NYSE:SKX) in a research report released on Sunday, July 23rd. Susquehanna Bancshares Inc currently has a $34.00 price objective on the textile maker’s stock, up from their previous price objective of $32.00.
Several other equities research analysts have also recently weighed in on the company. Buckingham Research set a $34.00 price target on Skechers U.S.A. and gave the stock a buy rating in a research note on Saturday, July 22nd. Citigroup Inc. boosted their target price on Skechers U.S.A. from $30.00 to $34.00 and gave the stock a buy rating in a report on Friday, July 21st. B. Riley reissued a buy rating and issued a $37.00 target price on shares of Skechers U.S.A. in a report on Friday, July 21st. OTR Global raised Skechers U.S.A. from a mixed rating to a positive rating in a report on Tuesday, July 18th. Finally, Vetr downgraded Skechers U.S.A. from a strong-buy rating to a buy rating and set a $32.12 target price on the stock. in a report on Monday, July 17th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $31.10.
Shares of Skechers U.S.A. (SKX) traded down 1.86% on Friday, reaching $27.40. 1,381,257 shares of the company’s stock were exchanged. Skechers U.S.A. has a 52-week low of $18.81 and a 52-week high of $30.00. The stock has a market cap of $4.34 billion, a P/E ratio of 19.00 and a beta of 0.18. The company’s 50 day moving average price is $28.51 and its 200-day moving average price is $26.57.
Skechers U.S.A. (NYSE:SKX) last posted its earnings results on Thursday, July 20th. The textile maker reported $0.38 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 business had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $966.46 million. During the same period last year, the firm posted $0.48 earnings per share. Skechers U.S.A.’s quarterly revenue was up 16.9% on a year-over-year basis. Equities analysts forecast that Skechers U.S.A. will post $1.57 EPS for the current fiscal year.
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In other news, Director Richard Rappaport sold 1,500 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $567,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 21.73% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Seven Eight Capital LP bought a new stake in Skechers U.S.A. during the second quarter valued at about $105,000. Tower Research Capital LLC TRC raised its stake 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 in the last quarter. US Bancorp DE raised its stake 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 in the last quarter. Aviance Capital Management LLC acquired a new stake in shares of Skechers U.S.A. during the second quarter worth about $109,000. Finally, Exane Derivatives acquired a new stake in shares of Skechers U.S.A. during the second quarter worth about $118,000. 67.86% of the stock is owned by institutional investors and hedge funds.
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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