Shares of Skechers U.S.A., Inc. (NYSE:SKX) hit a new 52-week high and low on Friday . The company traded as low as $42.88 and last traded at $42.19, with a volume of 943397 shares traded. The stock had previously closed at $42.32.
SKX has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded Skechers U.S.A. from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a report on Tuesday, December 26th. ValuEngine upgraded Skechers U.S.A. from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Vetr upgraded Skechers U.S.A. from a “sell” rating to a “hold” rating and set a $39.03 target price for the company in a research note on Tuesday, January 30th. B. Riley set a $50.00 target price on Skechers U.S.A. and gave the company a “buy” rating in a research note on Tuesday, February 6th. Finally, Citigroup raised their target price on Skechers U.S.A. from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $42.77.
The company has a market cap of $6,780.30, a P/E ratio of 23.58, a PEG ratio of 1.23 and a beta of 0.31. The company has a quick ratio of 2.06, a current ratio of 3.52 and a debt-to-equity ratio of 0.04.
Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings results on Thursday, February 8th. The textile maker reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.08. The business had revenue of $970.59 million during the quarter, compared to the consensus estimate of $881.39 million. Skechers U.S.A. had a return on equity of 14.63% and a net margin of 4.30%. The company’s quarterly revenue was up 27.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.04 EPS. equities research analysts forecast that Skechers U.S.A., Inc. will post 2.3 EPS for the current year.
Skechers U.S.A. declared that its board has initiated a share repurchase plan on Thursday, February 8th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the textile maker to buy shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.
In other Skechers U.S.A. news, EVP Mark A. Nason sold 16,701 shares of Skechers U.S.A. stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $40.34, for a total transaction of $673,718.34. Following the transaction, the executive vice president now owns 65,453 shares of the company’s stock, valued at approximately $2,640,374.02. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Phillip Paccione sold 17,432 shares of Skechers U.S.A. stock in a transaction that occurred on Friday, March 23rd. The stock was sold at an average price of $38.04, for a total transaction of $663,113.28. Following the transaction, the general counsel now directly owns 47,432 shares in the company, valued at approximately $1,804,313.28. The disclosure for this sale can be found here. Insiders have sold a total of 95,286 shares of company stock valued at $3,804,003 in the last quarter. Company insiders own 21.73% of the company’s stock.
Several institutional investors have recently bought and sold shares of SKX. Capital Growth Management LP bought a new position in shares of Skechers U.S.A. during the 4th quarter worth approximately $66,598,000. BlackRock Inc. lifted its position in shares of Skechers U.S.A. by 6.5% during the 4th quarter. BlackRock Inc. now owns 12,404,460 shares of the textile maker’s stock worth $469,385,000 after buying an additional 756,078 shares in the last quarter. Teachers Advisors LLC lifted its position in shares of Skechers U.S.A. by 45.3% during the 4th quarter. Teachers Advisors LLC now owns 1,826,444 shares of the textile maker’s stock worth $69,113,000 after buying an additional 569,715 shares in the last quarter. Maverick Capital Ltd. bought a new position in shares of Skechers U.S.A. during the 4th quarter worth approximately $20,781,000. Finally, Bogle Investment Management L P DE bought a new position in shares of Skechers U.S.A. during the 4th quarter worth approximately $14,874,000. 73.10% of the stock is currently owned by hedge funds and other institutional investors.
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Skechers U.S.A. Company Profile
Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children; and performance footwear for men and women under the Skechers GO brand worldwide. It operates through three segments: Domestic Wholesale Sales, International Wholesale Sales, and Retail Sales. The company offers casual boots, shoes, and sandals for men; shoes, oxfords and slip-ons, lug outsole and fashion boots, and casual sandals for women; dress casuals, seasonal sandals and boots, classic and wide fit, and relaxed fit casuals for men and women; and casual athletic line for men and women under the Skechers USA brand.
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