The Skechers U.S.A., Inc. (NYSE:SKX) Given a $34.00 Price Target by Buckingham Research Analysts

The Skechers U.S.A., Inc. (NYSE:SKX) Given a $34.00 Price Target by Buckingham Research Analysts

Other equities analysts have also recently issued reports about the company. B. Riley reaffirmed a “buy” rating and issued a $32.00 price objective on shares of Skechers U.S.A. in a report on Wednesday, April 26th. BidaskClub raised Skechers U.S.A. from a “hold” rating to a “buy” rating in a report on Friday, June 30th. Citigroup Inc. lifted their price objective on Skechers U.S.A. from $30.00 to $34.00 and gave the company a “buy” rating in a report on Friday, July 21st. Vetr cut Skechers U.S.A. from a “strong-buy” rating to a “buy” rating and set a $32.12 price target for the company. in a report on Monday, July 17th. Finally, Susquehanna Bancshares Inc raised Skechers U.S.A. from a “neutral” rating to a “positive” rating and boosted their price target for the stock from $25.00 to $32.00 in a report on Monday, June 5th. One analyst has rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company’s stock. Skechers U.S.A. has a consensus rating of “Buy” and a consensus target price of $31.10.

Skechers U.S.A., Inc. (NYSE:SKX) has been assigned a $34.00 price target by research analysts at Buckingham Research in a note issued to investors on Saturday, July 22nd. The brokerage presently has a “buy” rating on the textile maker’s stock. Buckingham Research’s price objective would indicate a potential upside of 21.73% from the stock’s previous close.

Shares of Skechers U.S.A. (NYSE SKX) traded down 1.47% during trading on Friday, hitting $27.52. 1,013,167 shares of the stock traded hands. The firm’s 50-day moving average price is $28.41 and its 200-day moving average price is $26.34. Skechers U.S.A. has a 52 week low of $18.81 and a 52 week high of $30.00. The company has a market cap of $4.28 billion, a price-to-earnings ratio of 19.08 and a beta of 0.18.

Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings results on Thursday, July 20th. The textile maker reported $0.38 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by $0.06. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $966.46 million. Skechers U.S.A. had a return on equity of 12.79% and a net margin of 5.92%. The business’s revenue for the quarter was up 16.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.48 earnings per share. On average, equities research analysts anticipate that Skechers U.S.A. will post $1.58 earnings per share for the current year.

In related news, Director Richard Rappaport sold 1,500 shares of the company’s stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $28.38, for a total transaction of $42,570.00. Following the sale, the director now owns 20,000 shares in the company, valued at approximately $567,600. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 38.20% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of SKX. Northwestern Mutual Investment Management Company LLC increased its position in Skechers U.S.A. by 0.3% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 23,053 shares of the textile maker’s stock worth $633,000 after buying an additional 75 shares during the period. Prescott Group Capital Management L.L.C. increased its position in Skechers U.S.A. by 0.3% in the first quarter. Prescott Group Capital Management L.L.C. now owns 32,100 shares of the textile maker’s stock worth $881,000 after buying an additional 100 shares during the period. Utah Retirement Systems increased its position in Skechers U.S.A. by 0.4% in the first quarter. Utah Retirement Systems now owns 23,700 shares of the textile maker’s stock worth $651,000 after buying an additional 100 shares during the period. IFP Advisors Inc increased its position in Skechers U.S.A. by 2.0% in the first quarter. IFP Advisors Inc now owns 7,409 shares of the textile maker’s stock worth $203,000 after buying an additional 147 shares during the period. Finally, Capstone Asset Management Co. increased its position in Skechers U.S.A. by 0.9% in the first quarter. Capstone Asset Management Co. now owns 18,446 shares of the textile maker’s stock worth $506,000 after buying an additional 160 shares during the period. 65.00% of the stock is currently owned by institutional investors and hedge funds.

Skechers U.S.A. Company Profile

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.

Related posts

Leave a Comment