Skechers USA Inc (NYSE:SKX) Director Morton D. Erlich sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, November 22nd. The stock was sold at an average price of $33.66, for a total transaction of $134,640.00. Following the completion of the sale, the director now owns 12,000 shares of the company’s stock, valued at $403,920. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Shares of Skechers USA Inc (NYSE SKX) opened at $39.62 on Friday. Skechers USA Inc has a 1-year low of $22.31 and a 1-year high of $39.71. The company has a current ratio of 3.46, a quick ratio of 2.30 and a debt-to-equity ratio of 0.04. The company has a market cap of $6,194.59, a price-to-earnings ratio of 24.61, a P/E/G ratio of 1.27 and a beta of 0.15.
Skechers USA (NYSE:SKX) last posted its quarterly earnings results on Thursday, October 19th. The textile maker reported $0.59 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.16. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.07 billion. Skechers USA had a net margin of 6.38% and a return on equity of 13.70%. The firm’s revenue was up 16.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.42 EPS. equities analysts anticipate that Skechers USA Inc will post 1.71 earnings per share for the current fiscal year.
A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Co boosted their price objective on shares of Skechers USA from $33.00 to $36.00 and gave the stock a “market perform” rating in a report on Friday, October 20th. Cowen reiterated a “buy” rating and set a $35.00 price target on shares of Skechers USA in a report on Friday, October 27th. Argus upgraded shares of Skechers USA from a “hold” rating to a “buy” rating in a report on Friday, December 15th. Susquehanna Bancshares reiterated a “buy” rating and set a $46.00 price target on shares of Skechers USA in a report on Monday, December 4th. Finally, B. Riley set a $37.00 price target on shares of Skechers USA and gave the company a “buy” rating in a report on Friday, October 20th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the stock. Skechers USA presently has an average rating of “Buy” and a consensus target price of $38.55.
Institutional investors have recently modified their holdings of the business. UBS Asset Management Americas Inc. increased its position in Skechers USA by 17.6% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 102,030 shares of the textile maker’s stock valued at $3,010,000 after purchasing an additional 15,284 shares during the period. Mitra Capital LLC purchased a new position in Skechers USA during the 2nd quarter valued at $1,062,000. Parametric Portfolio Associates LLC increased its position in Skechers USA by 70.4% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 473,072 shares of the textile maker’s stock valued at $13,956,000 after purchasing an additional 195,419 shares during the period. Aurora Investment Counsel purchased a new position in Skechers USA during the 4th quarter valued at $2,383,000. Finally, Maverick Capital Ltd. purchased a new position in Skechers USA during the 2nd quarter valued at $4,737,000. 70.12% of the stock is currently owned by institutional investors and hedge funds.
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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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