Skechers USA Inc (SKX) Received Average Rating of “Hold” from Brokerages

Skechers USA Inc (SKX) Received Average Rating of “Hold” from Brokerages

Shares of Skechers USA Inc (NYSE:SKX) have been given a consensus recommendation of “Hold” by the fourteen research firms that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $29.13.

A number of equities research analysts have recently weighed in on the stock. Susquehanna Bancshares Inc upgraded shares of Skechers USA from a “neutral” rating to a “positive” rating in a research report on Monday. Vetr downgraded shares of Skechers USA from a “buy” rating to a “hold” rating and set a $27.28 price objective for the company. in a research report on Monday. Citigroup Inc upgraded shares of Skechers USA from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $25.52 to $30.00 in a research report on Thursday. B. Riley restated a “buy” rating and set a $32.00 price objective on shares of Skechers USA in a research report on Wednesday, April 26th. Finally, Cowen and Company restated a “buy” rating and set a $35.00 price objective on shares of Skechers USA in a research report on Friday, April 21st.

In other news, insider Mark A. Nason sold 18,376 shares of the company’s stock in a transaction on Wednesday, March 15th. The shares were sold at an average price of $27.21, for a total transaction of $500,010.96. Following the completion of the transaction, the insider now directly owns 78,752 shares in the company, valued at $2,142,841.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO David Weinberg sold 23,502 shares of the business’s stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $25.08, for a total transaction of $589,430.16. Following the completion of the sale, the chief operating officer now directly owns 193,502 shares in the company, valued at approximately $4,853,030.16. The disclosure for this sale can be found here. Insiders have sold 44,128 shares of company stock valued at $1,153,709 over the last quarter. Company insiders own 21.73% of the company’s stock.

Several hedge funds have recently modified their holdings of SKX. Tower Research Capital LLC TRC boosted its stake in shares of Skechers USA by 430.9% in the first quarter. Tower Research Capital LLC TRC now owns 3,844 shares of the textile maker’s stock valued at $106,000 after buying an additional 3,120 shares in the last quarter. US Bancorp DE boosted its stake in shares of Skechers USA by 94.9% in the first quarter. US Bancorp DE now owns 3,895 shares of the textile maker’s stock valued at $107,000 after buying an additional 1,897 shares in the last quarter. Neuburgh Advisers LLC boosted its stake in shares of Skechers USA by 3.8% in the first quarter. Neuburgh Advisers LLC now owns 4,796 shares of the textile maker’s stock valued at $132,000 after buying an additional 176 shares in the last quarter. NINE MASTS CAPITAL Ltd acquired a new stake in shares of Skechers USA during the first quarter valued at $137,000. Finally, Tyers Asset Management LLC acquired a new stake in shares of Skechers USA during the fourth quarter valued at $145,000. 61.40% of the stock is currently owned by institutional investors.

Shares of Skechers USA (NYSE SKX) opened at 26.41 on Monday. The company has a market cap of $4.18 billion, a P/E ratio of 17.13 and a beta of 0.30. The company’s 50-day moving average price is $24.78 and its 200 day moving average price is $25.29. Skechers USA has a 52 week low of $18.81 and a 52 week high of $32.71.

Skechers USA (NYSE:SKX) last issued its quarterly earnings data on Thursday, April 20th. The textile maker reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.05. Skechers USA had a return on equity of 15.10% and a net margin of 6.83%. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the previous year, the company posted $0.63 earnings per share. The business’s revenue was up 9.6% on a year-over-year basis. On average, equities analysts forecast that Skechers USA will post $1.77 EPS for the current fiscal year.

About Skechers USA

Skechers U.SA, Inc is a designer and marketer of Skechers-branded lifestyle footwear for men, women and children, and performance footwear for men and women under the Skechers GO brand name. The Company operates through three segments: domestic wholesale sales, international wholesale sales, and retail sales, which includes e-commerce sales.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “SKX”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

Related posts

Leave a Comment