Several other research analysts have also recently issued reports on the company. Citigroup Inc. dropped their price objective on Skechers U.S.A. from $30.00 to $25.00 and set a positive rating on the stock in a research note on Wednesday, March 29th. B. Riley raised Skechers U.S.A. from a neutral rating to a buy rating and set a $32.00 target price on the stock in a research report on Friday, April 21st. UBS AG upgraded Skechers U.S.A. from a neutral rating to a positive rating in a report on Monday, June 5th. Susquehanna Bancshares Inc reiterated a neutral rating and set a $25.00 price objective on shares of Skechers U.S.A. in a report on Monday, April 24th. Finally, Vetr upgraded Skechers U.S.A. from a hold rating to a buy rating and set a $26.28 target price for the company in a research note on Wednesday, April 12th. One equities research 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. The stock presently has a consensus rating of Buy and a consensus price target of $31.10.
Shares of Skechers U.S.A. (NYSE:SKX) traded down 0.43% during trading on Tuesday, reaching $27.92. The company’s stock had a trading volume of 910,909 shares. Skechers U.S.A. has a 52-week low of $18.81 and a 52-week high of $30.00. The stock’s 50 day moving average price is $28.59 and its 200-day moving average price is $26.56. The stock has a market cap of $4.42 billion, a price-to-earnings ratio of 19.36 and a beta of 0.18.
Skechers U.S.A. (NYSE:SKX) last released its earnings results on Thursday, July 20th. The textile maker reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by $0.06. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $966.46 million. Skechers U.S.A. had a net margin of 5.92% and a return on equity of 12.79%. The company’s quarterly revenue was up 16.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.48 EPS. Equities analysts anticipate that Skechers U.S.A. will post $1.57 EPS for the current year.
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In related news, Director Richard Rappaport sold 1,500 shares of the stock in a transaction dated Friday, June 23rd. The shares were sold at an average price of $28.38, for a total transaction of $42,570.00. Following the completion of the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at $567,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 38.20% of the company’s stock.
A number of institutional investors have recently bought and sold shares of SKX. Russell Investments Group Ltd. bought a new position in Skechers U.S.A. during the fourth quarter worth $1,833,000. Dimensional Fund Advisors LP increased its position in shares of Skechers U.S.A. by 6.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,248,351 shares of the textile maker’s stock worth $30,685,000 after buying an additional 75,014 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Skechers U.S.A. by 7.9% in the fourth quarter. Renaissance Technologies LLC now owns 449,600 shares of the textile maker’s stock worth $11,051,000 after buying an additional 32,900 shares in the last quarter. Thrivent Financial for Lutherans increased its position in shares of Skechers U.S.A. by 9.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 22,810 shares of the textile maker’s stock worth $561,000 after buying an additional 1,980 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Skechers U.S.A. during the fourth quarter worth approximately $30,030,000. 67.86% of the stock is currently owned by institutional investors.
About Skechers U.S.A.
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.
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