Skechers U.S.A. (NYSE:SKX) PT Raised to $79.00 at TD Cowen

Skechers U.S.A. (NYSE:SKX) had its price target boosted by equities researchers at TD Cowen from $77.00 to $79.00 in a research note issued on Monday, Benzinga reports. The firm currently has a “buy” rating on the textile maker’s stock. TD Cowen’s price target suggests a potential upside of 21.33% from the stock’s previous close.

SKX has been the topic of a number of other reports. Evercore ISI dropped their price objective on Skechers U.S.A. from $73.00 to $68.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 17th. Wells Fargo & Company started coverage on Skechers U.S.A. in a research note on Wednesday, June 12th. They issued an “overweight” rating and a $83.00 price objective on the stock. Wedbush reiterated an “outperform” rating and issued a $76.00 price objective on shares of Skechers U.S.A. in a research note on Friday, May 17th. Bank of America upgraded Skechers U.S.A. from a “neutral” rating to a “buy” rating and boosted their price target for the company from $71.00 to $87.00 in a research note on Friday, June 7th. Finally, Barclays assumed coverage on Skechers U.S.A. in a research note on Monday, April 1st. They set an “overweight” rating and a $71.00 price target on the stock. Fourteen investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $74.77.

Skechers U.S.A. Price Performance

NYSE SKX opened at $65.11 on Monday. Skechers U.S.A. has a fifty-two week low of $45.58 and a fifty-two week high of $75.09. The stock’s 50-day moving average is $69.42 and its two-hundred day moving average is $64.12. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.39 and a quick ratio of 1.56. The firm has a market cap of $9.93 billion, a P/E ratio of 17.13, a price-to-earnings-growth ratio of 0.92 and a beta of 1.25.

Skechers U.S.A. (NYSE:SKX) last posted its earnings results on Thursday, April 25th. The textile maker reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.23. Skechers U.S.A. had a return on equity of 13.56% and a net margin of 7.17%. The company had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same period last year, the company earned $1.02 earnings per share. The business’s revenue was up 12.5% compared to the same quarter last year. On average, analysts anticipate that Skechers U.S.A. will post 4.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Skechers U.S.A.

In other Skechers U.S.A. news, General Counsel Phillip Paccione sold 423 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $69.45, for a total transaction of $29,377.35. Following the completion of the sale, the general counsel now owns 35,000 shares in the company, valued at approximately $2,430,750. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 24.75% of the company’s stock.

Institutional Trading of Skechers U.S.A.

A number of large investors have recently made changes to their positions in SKX. Redmont Wealth Advisors LLC acquired a new position in Skechers U.S.A. in the 1st quarter worth $25,000. Bessemer Group Inc. boosted its stake in Skechers U.S.A. by 66.7% in the 1st quarter. Bessemer Group Inc. now owns 410 shares of the textile maker’s stock worth $25,000 after purchasing an additional 164 shares during the period. GAMMA Investing LLC acquired a new position in Skechers U.S.A. in the 4th quarter worth $36,000. Game Plan Financial Advisors LLC acquired a new position in Skechers U.S.A. in the 1st quarter worth $43,000. Finally, Versant Capital Management Inc boosted its stake in Skechers U.S.A. by 2,809.1% in the 2nd quarter. Versant Capital Management Inc now owns 640 shares of the textile maker’s stock worth $44,000 after purchasing an additional 618 shares during the period. Institutional investors own 79.96% of the company’s stock.

Skechers U.S.A. Company Profile

Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children worldwide. The company operates through Wholesale and Direct-to-Consumer segments. It offers footwear under Skechers Hands Free Slip-ins, Skechers Arch Fit, and Skechers Air-Cooled Memory Foam brands.