Skechers USA (NYSE:SKX) PT Raised to $42.00 at Susquehanna Bancshares

Skechers USA (NYSE:SKX) had its target price boosted by analysts at Susquehanna Bancshares from $37.00 to $42.00 in a research report issued to clients and investors on Friday, The Fly reports. The brokerage currently has a “positive” rating on the textile maker’s stock. Susquehanna Bancshares’ price target suggests a potential upside of 7.66% from the stock’s previous close.

Other analysts have also issued research reports about the stock. Stifel Nicolaus reiterated a “buy” rating and set a $2,300.00 price objective on shares of Amazon.com in a research note on Friday. Morgan Stanley lifted their price objective on shares of Blackstone Group from $54.00 to $56.00 and gave the company an “overweight” rating in a research note on Friday. Monness Crespi & Hardt reiterated a “buy” rating and set a $42.00 price objective (up previously from $35.00) on shares of Skechers USA in a research note on Friday. They noted that the move was a valuation call. UBS Group lifted their price objective on shares of Crowdstrike from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday. They noted that the move was a valuation call. Finally, Wedbush upgraded shares of Skechers USA from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $31.00 to $46.00 in a research note on Friday. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $37.33.

NYSE SKX opened at $39.01 on Friday. Skechers USA has a one year low of $21.45 and a one year high of $40.50. The firm has a 50 day simple moving average of $31.57. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.91 and a quick ratio of 2.00. The stock has a market capitalization of $6.14 billion, a price-to-earnings ratio of 18.49, a price-to-earnings-growth ratio of 2.75 and a beta of 0.72.

Skechers USA (NYSE:SKX) last posted its quarterly earnings results on Thursday, July 18th. The textile maker reported $0.49 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.16. Skechers USA had a net margin of 6.72% and a return on equity of 14.80%. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same quarter last year, the firm posted $0.29 earnings per share. Skechers USA’s revenue for the quarter was up 10.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Skechers USA will post 2.09 earnings per share for the current fiscal year.

In other news, President Michael Greenberg sold 22,689 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $31.17, for a total transaction of $707,216.13. Following the completion of the sale, the president now owns 534,269 shares of the company’s stock, valued at $16,653,164.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert Greenberg sold 25,210 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $31.17, for a total transaction of $785,795.70. Following the sale, the chief executive officer now directly owns 625,210 shares of the company’s stock, valued at approximately $19,487,795.70. The disclosure for this sale can be found here. Insiders have sold 92,690 shares of company stock valued at $2,900,456 in the last three months. Corporate insiders own 28.08% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC acquired a new stake in shares of Skechers USA during the first quarter worth approximately $33,000. Hanseatic Management Services Inc. acquired a new stake in shares of Skechers USA during the second quarter worth approximately $43,000. Quantamental Technologies LLC acquired a new stake in shares of Skechers USA during the first quarter worth approximately $49,000. Meeder Asset Management Inc. grew its position in shares of Skechers USA by 1,569.0% during the first quarter. Meeder Asset Management Inc. now owns 3,338 shares of the textile maker’s stock worth $112,000 after buying an additional 3,138 shares in the last quarter. Finally, Machina Capital S.A.S. acquired a new stake in shares of Skechers USA during the second quarter worth approximately $120,000. 76.45% of the stock is owned by institutional investors and hedge funds.

Skechers USA 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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The Fly

Analyst Recommendations for Skechers USA (NYSE:SKX)

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