Skechers USA Inc. (NYSE:SKX)‘s stock had its “neutral” rating reissued by analysts at B. Riley in a research note issued on Tuesday. They currently have a $24.00 price objective on the stock. B. Riley’s price objective points to a potential upside of 8.40% from the stock’s previous close.
SKX has been the topic of several other reports. Susquehanna upgraded shares of Skechers USA from a “neutral” rating to a “positive” rating and set a $27.00 price target on the stock in a report on Friday, September 30th. Morgan Stanley downgraded shares of Skechers USA from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $41.00 to $25.00 in a report on Wednesday, September 21st. Vetr upgraded shares of Skechers USA from a “buy” rating to a “strong-buy” rating and set a $24.19 target price on the stock in a research note on Monday, October 24th. Standpoint Research restated a “buy” rating on shares of Skechers USA in a research note on Monday, November 7th. Finally, Citigroup Inc. downgraded shares of Skechers USA from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $33.00 to $21.00 in a research note on Friday, October 21st. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $25.41.
Skechers USA (NYSE:SKX) traded down 2.55% during trading on Tuesday, hitting $22.14. 1,176,741 shares of the stock traded hands. The firm has a market cap of $3.50 billion, a PE ratio of 12.86 and a beta of 0.27. Skechers USA has a 12 month low of $18.81 and a 12 month high of $34.27. The firm has a 50-day moving average price of $21.58 and a 200 day moving average price of $25.62.
Skechers USA (NYSE:SKX) last issued its quarterly earnings results on Thursday, October 20th. The company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.46 by $0.04. The firm had revenue of $942.40 million for the quarter, compared to the consensus estimate of $954.38 million. Skechers USA had a net margin of 7.56% and a return on equity of 17.44%. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.43 earnings per share. On average, equities analysts forecast that Skechers USA will post $1.63 EPS for the current fiscal year.
In other Skechers USA news, President Michael Greenberg sold 150,000 shares of the firm’s stock in a transaction on Wednesday, November 2nd. The shares were sold at an average price of $20.58, for a total value of $3,087,000.00. Following the completion of the transaction, the president now owns 401,679 shares of the company’s stock, valued at $8,266,553.82. The transaction was disclosed in a filing with the SEC, which is available at this link. 21.73% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Gerstein Fisher boosted its position in Skechers USA by 147.3% in the third quarter. Gerstein Fisher now owns 82,140 shares of the company’s stock worth $3,671,000 after buying an additional 48,927 shares in the last quarter. Capital Fund Management S.A. boosted its position in Skechers USA by 22.3% in the second quarter. Capital Fund Management S.A. now owns 105,151 shares of the company’s stock worth $3,125,000 after buying an additional 19,191 shares in the last quarter. State Treasurer State of Michigan boosted its position in Skechers USA by 111.5% in the fourth quarter. State Treasurer State of Michigan now owns 51,400 shares of the company’s stock worth $1,553,000 after buying an additional 27,100 shares in the last quarter. Prudential PLC boosted its position in Skechers USA by 2.3% in the first quarter. Prudential PLC now owns 252,600 shares of the company’s stock worth $7,692,000 after buying an additional 5,700 shares in the last quarter. Finally, Menta Capital LLC boosted its position in Skechers USA by 291.2% in the first quarter. Menta Capital LLC now owns 34,392 shares of the company’s stock worth $1,047,000 after buying an additional 25,600 shares in the last quarter. 63.20% of the stock is owned by institutional investors and hedge funds.
Skechers USA Company Profile