Skechers USA (SKX) Upgraded by Vetr to “Hold”

Vetr upgraded shares of Skechers USA (NYSE:SKX) from a sell rating to a hold rating in a report published on Monday. They currently have $39.03 price objective on the textile maker’s stock.

SKX has been the topic of a number of other reports. Zacks Investment Research upgraded shares of Skechers USA from a hold rating to a buy rating and set a $46.00 target price on the stock in a research note on Monday, February 12th. Argus upgraded shares of Skechers USA from a hold rating to a buy rating in a research note on Friday, December 15th. Cowen reiterated a buy rating and issued a $35.00 target price on shares of Skechers USA in a research note on Friday, October 27th. Monness Crespi & Hardt boosted their target price on shares of Skechers USA from $40.00 to $50.00 and gave the company a buy rating in a research note on Friday, February 9th. Finally, Susquehanna Bancshares reiterated a buy rating and issued a $46.00 target price on shares of Skechers USA in a research note on Monday, December 4th. Two analysts have rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company. The company presently has an average rating of Buy and an average target price of $41.34.

Skechers USA (SKX) opened at $39.19 on Monday. Skechers USA has a twelve month low of $22.64 and a twelve month high of $42.73. The firm has a market cap of $6,210.00, a PE ratio of 21.89, a P/E/G ratio of 1.14 and a beta of 0.20. The company has a current ratio of 3.52, a quick ratio of 2.06 and a debt-to-equity ratio of 0.04.

Skechers USA (NYSE:SKX) last released its quarterly earnings results on Thursday, February 8th. The textile maker reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.08. Skechers USA had a net margin of 4.30% and a return on equity of 14.63%. The business had revenue of $970.59 million for the quarter, compared to analysts’ expectations of $881.39 million. During the same period in the previous year, the company earned $0.04 earnings per share. The firm’s revenue for the quarter was up 27.0% compared to the same quarter last year. analysts predict that Skechers USA will post 2.3 EPS for the current year.

Skechers USA announced that its Board of Directors has approved a share buyback plan on Thursday, February 8th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the textile maker to purchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

In related news, Director Morton D. Erlich sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $33.66, for a total transaction of $134,640.00. Following the sale, the director now directly owns 12,000 shares in the company, valued at approximately $403,920. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey Greenberg sold 75,000 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $35.16, for a total transaction of $2,637,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 580,750 shares of company stock worth $21,665,988 over the last 90 days. 38.20% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the stock. PNC Financial Services Group Inc. lifted its stake in shares of Skechers USA by 6.6% during the 2nd quarter. PNC Financial Services Group Inc. now owns 5,428 shares of the textile maker’s stock valued at $161,000 after buying an additional 335 shares in the last quarter. Amalgamated Bank lifted its stake in shares of Skechers USA by 5.8% during the 4th quarter. Amalgamated Bank now owns 26,981 shares of the textile maker’s stock valued at $1,021,000 after buying an additional 1,473 shares in the last quarter. Oakbrook Investments LLC lifted its stake in shares of Skechers USA by 17.2% during the 4th quarter. Oakbrook Investments LLC now owns 11,730 shares of the textile maker’s stock valued at $444,000 after buying an additional 1,720 shares in the last quarter. Meadow Creek Investment Management LLC lifted its stake in shares of Skechers USA by 25.9% during the 4th quarter. Meadow Creek Investment Management LLC now owns 8,784 shares of the textile maker’s stock valued at $332,000 after buying an additional 1,808 shares in the last quarter. Finally, Crossmark Global Holdings Inc. lifted its stake in shares of Skechers USA by 9.8% during the 4th quarter. Crossmark Global Holdings Inc. now owns 21,143 shares of the textile maker’s stock valued at $800,000 after buying an additional 1,887 shares in the last quarter. Institutional investors own 74.01% 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.

Analyst Recommendations for Skechers USA (NYSE:SKX)

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