Skechers USA, Inc. (NYSE:SKX) Receives Consensus “Buy” Recommendation From Analysts
Skechers USA, Inc. (NYSE: SKX – Get a rating) received an average “Buy” rating from the fourteen analysts who currently cover the stock, Marketbeat reports. Four investment analysts rated the stock with a hold recommendation and eight gave the company a buy recommendation. The 12-month average price target among analysts who have reported on the stock in the past year is $56.78.
A number of stock analysts have weighed in on the stock recently. OTR Global upgraded Skechers USA shares from a “mixed” rating to a “positive” rating in a Tuesday, April 5 research note. StockNews.com purported coverage of Skechers USA shares in a Thursday, March 31, research note. They set a “hold” rating for the company. TheStreet downgraded shares of Skechers USA from a “b” rating to a “c+” rating in a Tuesday, May 17 research note. Deutsche Bank Aktiengesellschaft lowered its price target on Skechers USA shares from $62.00 to $61.00 in a Monday, April 25 research note. Finally, Berenberg Bank reaffirmed a “buy” rating and issued a $71.00 price target on Skechers USA shares in a research note on Tuesday, May 17.
Shares of NYSE:SKX opened at $41.27 on Friday. The company has a market capitalization of $6.44 billion, a PE ratio of 8.47 and a beta of 1.33. The company’s fifty-day moving average is $38.76 and its 200-day moving average is $41.92. The company has a debt ratio of 0.07, a quick ratio of 1.41 and a current ratio of 2.44. Skechers USA has a 52-week low of $33.50 and a 52-week high of $55.87.
Skechers USA (NYSE: SKX – Get a rating) last released its quarterly results on Tuesday, April 26. The textile maker reported EPS of $0.80 for the quarter, beating consensus analyst estimates of $0.72 by $0.08. Skechers USA had a net margin of 11.45% and a return on equity of 12.94%. In the same quarter last year, the company achieved EPS of $0.63. Sell-side analysts expect Skechers USA to post EPS of 2.84 for the current year.
In other news, the President Michael Greenberg bought 28,000 shares of the company in a transaction that took place on Monday, March 7. The shares were acquired at an average cost of $35.20 per share, for a total transaction of $985,600.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this hyperlink. 24.44% of the shares are currently held by insiders.
A number of institutional investors and hedge funds have recently increased or reduced their stake in SKX. Fifth Third Bancorp increased its stake in Skechers USA shares by 79.3% during the 1st quarter. Fifth Third Bancorp now owns 710 shares of the textile maker valued at $29,000 after buying 314 additional shares last quarter. Covestor Ltd purchased a new stake in shares of Skechers USA during Q4 valued at approximately $31,000. Allworth Financial LP increased its stake in Skechers USA shares by 198.4% during the 4th quarter. Allworth Financial LP now owns 761 shares of the textile maker valued at $33,000 after buying an additional 506 shares last quarter. Cornerstone Advisory LLC purchased a new stake in Skechers USA stock during Q4, valued at approximately $34,000. Finally, Prospera Financial Services Inc purchased a new equity stake in Skechers USA during Q1 for approximately $34,000. Hedge funds and other institutional investors own 79.71% of the company’s shares.
Skechers USA Company Profile (Get a rating)
Skechers U.SA, Inc designs, develops, markets and distributes footwear for men, women and children; and performance footwear for men and women worldwide. The Company operates through three segments: Domestic Wholesale, International Wholesale and Direct-to-Consumer. It offers casual, athletic casual, athletic, trail shoes, sandals, boots and retro fashion shoes for men and women under the brands Skechers USA, Skechers Sport, Skechers Active, Modern Comfort, Skechers Street, Mark Nason and BOBS; sneakers, casual shoes, boots and sandals for boys and girls under the brands Skechers Mega-Craft, S-Lights, SKECH-AIR, Foamies, Twinkle Toes, Z-Strap, Skechers Stretch Fit and Skechers Street; and technical footwear under the Skechers GOrun, Skechers GOwalk, Skechers GOtrain, Skechers GOtrail and Skechers GO Golf brands.
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