Skechers USA (NYSE:SKX) had its target price upped by stock analysts at Susquehanna Bancshares from $32.00 to $39.00 in a report issued on Friday, The Fly reports. Susquehanna Bancshares’ price target points to a potential upside of 37.71% from the stock’s previous close.
Other analysts have also recently issued research reports about the stock. Wells Fargo & Co reaffirmed a “buy” rating on shares of Skechers USA in a research report on Thursday, May 14th. Deutsche Bank restated a “buy” rating and issued a $28.00 price target on shares of Skechers USA in a report on Friday, April 24th. Wedbush upped their price objective on shares of Skechers USA from $28.00 to $34.00 and gave the company an “outperform” rating in a report on Tuesday. Morgan Stanley raised their target price on Skechers USA from $24.00 to $25.00 and gave the company an “equal weight” rating in a research note on Friday, April 24th. Finally, UBS Group decreased their target price on Skechers USA from $50.00 to $32.00 and set a “buy” rating for the company in a research report on Wednesday, April 15th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $38.54.
SKX stock traded up $0.58 during mid-day trading on Friday, hitting $28.32. The stock had a trading volume of 349,487 shares, compared to its average volume of 1,714,918. The firm has a fifty day simple moving average of $31.41 and a 200 day simple moving average of $32.40. The firm has a market capitalization of $4.46 billion, a P/E ratio of 15.13 and a beta of 1.22. The company has a current ratio of 3.10, a quick ratio of 2.15 and a debt-to-equity ratio of 0.64. Skechers USA has a 52 week low of $17.06 and a 52 week high of $44.50.
Skechers USA (NYSE:SKX) last issued its earnings results on Thursday, April 23rd. The textile maker reported $0.39 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.39. Skechers USA had a return on equity of 12.17% and a net margin of 5.53%. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter last year, the business posted $0.71 EPS. The company’s revenue was down 2.7% compared to the same quarter last year. As a group, equities analysts expect that Skechers USA will post 0.54 earnings per share for the current fiscal year.
In other news, EVP Mark A. Nason sold 11,922 shares of the stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $31.79, for a total value of $379,000.38. Following the completion of the sale, the executive vice president now directly owns 73,752 shares of the company’s stock, valued at $2,344,576.08. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Robert Greenberg sold 50,000 shares of the business’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $26.19, for a total value of $1,309,500.00. Following the completion of the transaction, the chief executive officer now owns 600,000 shares in the company, valued at $15,714,000. The disclosure for this sale can be found here. Insiders have sold 115,052 shares of company stock worth $3,086,092 over the last quarter. 28.08% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of the business. Chevy Chase Trust Holdings Inc. acquired a new position in shares of Skechers USA during the 4th quarter worth about $52,000. Fifth Third Bancorp boosted its position in Skechers USA by 16.1% during the first quarter. Fifth Third Bancorp now owns 2,901 shares of the textile maker’s stock valued at $69,000 after purchasing an additional 403 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new position in Skechers USA in the first quarter valued at approximately $139,000. Point72 Hong Kong Ltd acquired a new stake in shares of Skechers USA in the 4th quarter valued at approximately $164,000. Finally, Quantum Capital Management bought a new position in shares of Skechers USA in the fourth quarter valued at $169,000. 76.26% of the stock is currently owned by hedge funds and other institutional investors.
About Skechers USA
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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