Cowen set a $42.00 price target on Skechers USA (NYSE:SKX) in a research note released on Monday. The brokerage currently has a buy rating on the textile maker’s stock.
Other equities research analysts have also recently issued reports about the company. Susquehanna Bancshares restated a buy rating on shares of Skechers USA in a research note on Friday, October 20th. B. Riley set a $37.00 price objective on Skechers USA and gave the company a buy rating in a research note on Friday, October 20th. Buckingham Research restated a buy rating and issued a $32.00 price objective (down from $34.00) on shares of Skechers USA in a research note on Monday, September 25th. Monness Crespi & Hardt boosted their price objective on Skechers USA from $33.00 to $34.00 and gave the company a buy rating in a research note on Friday, October 20th. Finally, Vetr upgraded Skechers USA from a hold rating to a buy rating and set a $33.73 price objective on the stock in a research note on Tuesday, October 31st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the stock. Skechers USA has an average rating of Hold and a consensus price target of $36.80.
Skechers USA (NYSE:SKX) opened at $36.92 on Monday. The company has a quick ratio of 2.30, a current ratio of 3.46 and a debt-to-equity ratio of 0.04. The firm has a market cap of $5,815.85, a PE ratio of 22.80, a P/E/G ratio of 1.54 and a beta of 0.15. Skechers USA has a fifty-two week low of $22.31 and a fifty-two week high of $37.66.
Skechers USA (NYSE:SKX) last issued its quarterly earnings results on Thursday, October 19th. The textile maker reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.16. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.07 billion. Skechers USA had a net margin of 6.38% and a return on equity of 13.70%. The firm’s quarterly revenue was up 16.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.42 EPS. analysts predict that Skechers USA will post 1.7 earnings per share for the current fiscal year.
In other news, Director Thomas Walsh sold 750 shares of the company’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $34.81, for a total transaction of $26,107.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jeffrey Greenberg sold 180,000 shares of the company’s stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $31.72, for a total value of $5,709,600.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 461,250 shares of company stock worth $14,955,008. 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 bought a new stake in shares of Skechers USA during the second quarter valued at about $105,000. Aviance Capital Management LLC bought a new stake in shares of Skechers USA during the second quarter valued at about $109,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Skechers USA by 12.3% in 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 during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Skechers USA by 6.6% in 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 during the last quarter. Finally, Intact Investment Management Inc. bought a new position in shares of Skechers USA in the second quarter worth approximately $206,000. Hedge funds and other institutional investors own 70.13% of the company’s stock.
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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.
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