Skechers USA Inc (NYSE:SKX) Director Thomas Walsh sold 750 shares of the firm’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $34.81, for a total value of $26,107.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Skechers USA Inc (NYSE:SKX) opened at $38.13 on Friday. The company has a market capitalization of $6,042.46, a PE ratio of 23.68, a P/E/G ratio of 1.60 and a beta of 0.15. Skechers USA Inc has a 52 week low of $22.31 and a 52 week high of $38.41. The company has a quick ratio of 2.30, a current ratio of 3.46 and a debt-to-equity ratio of 0.04.
Skechers USA (NYSE:SKX) last posted its quarterly earnings results on Thursday, October 19th. The textile maker reported $0.59 EPS for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.16. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.07 billion. Skechers USA had a return on equity of 13.70% and a net margin of 6.38%. The company’s revenue for the quarter was up 16.2% compared to the same quarter last year. During the same period last year, the firm earned $0.42 earnings per share. analysts anticipate that Skechers USA Inc will post 1.7 EPS for the current fiscal year.
Several research analysts have commented on the company. Argus raised Skechers USA from a “hold” rating to a “buy” rating in a research report on Friday. Vetr lowered Skechers USA from a “buy” rating to a “hold” rating and set a $37.55 price objective on the stock. in a research report on Monday, December 11th. Cowen set a $42.00 target price on Skechers USA and gave the stock a “buy” rating in a research report on Monday, December 11th. Susquehanna Bancshares reaffirmed a “buy” rating and set a $46.00 target price on shares of Skechers USA in a research report on Monday, December 4th. Finally, Monness Crespi & Hardt lifted their target price on Skechers USA from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, December 1st. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company. Skechers USA presently has a consensus rating of “Hold” and a consensus target price of $36.80.
A number of large investors have recently bought and sold shares of SKX. Mik Capital LLC acquired a new position in Skechers USA in the second quarter worth about $56,285,000. Amerigo Asset Management grew its stake in Skechers USA by 38.2% in the second quarter. Amerigo Asset Management now owns 6,134,253 shares of the textile maker’s stock worth $180,960,000 after purchasing an additional 1,694,253 shares in the last quarter. State Street Corp grew its stake in Skechers USA by 47.2% in the second quarter. State Street Corp now owns 5,031,124 shares of the textile maker’s stock worth $148,423,000 after purchasing an additional 1,613,977 shares in the last quarter. Prudential Financial Inc. grew its stake in Skechers USA by 125.7% in the second quarter. Prudential Financial Inc. now owns 2,302,352 shares of the textile maker’s stock worth $67,919,000 after purchasing an additional 1,282,260 shares in the last quarter. Finally, Columbus Circle Investors acquired a new position in Skechers USA in the second quarter worth about $31,638,000. Institutional investors and hedge funds own 70.13% of the company’s stock.
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About Skechers USA
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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