Skechers U.S.A., Inc. (NYSE:SKX) Rating Increased to Positive at OTR Global

OTR Global upgraded shares of Skechers U.S.A., Inc. (NYSE:SKX) from a mixed rating to a positive rating in a research note issued to investors on Tuesday, July 18th.

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.

Analyst Recommendations for Skechers U.S.A. (NYSE:SKX)

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