Skechers U.S.A., Inc. (NYSE:SKX) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Thursday, July 13th.
Several other equities research analysts have also issued reports on the company. Cowen and Company raised Skechers U.S.A. from a “market perform” rating to an “outperform” rating and set a $35.00 target price for the company in a research note on Friday, March 24th. Vetr raised 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, May 3rd. Zacks Investment Research lowered Skechers U.S.A. from a “hold” rating to a “sell” rating in a research note on Wednesday, April 12th. Standpoint Research lowered Skechers U.S.A. from a “buy” rating to a “hold” rating in a research note on Thursday, March 16th. Finally, Citigroup Inc. raised Skechers U.S.A. from a “neutral” rating to a “buy” rating and boosted their target price for the company from $25.52 to $30.00 in a research note on Thursday, June 1st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the stock. Skechers U.S.A. has a consensus rating of “Buy” and an average target price of $31.10.
Skechers U.S.A. (SKX) opened at 28.69 on Thursday. Skechers U.S.A. has a 12 month low of $18.81 and a 12 month high of $30.00. The company has a market cap of $4.46 billion, a price-to-earnings ratio of 19.90 and a beta of 0.18. The company has a 50-day moving average of $28.40 and a 200-day moving average of $26.37.
Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings results on Thursday, July 20th. The textile maker reported $0.38 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by $0.06. Skechers U.S.A. had a return on equity of 12.79% and a net margin of 5.92%. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $966.46 million. During the same period last year, the firm earned $0.48 EPS. The company’s revenue for the quarter was up 16.9% on a year-over-year basis. Analysts predict that Skechers U.S.A. will post $1.57 EPS for the current year.
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In other Skechers U.S.A. news, Director Richard Rappaport sold 1,500 shares of the stock in a transaction on 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 directly owns 20,000 shares in the company, valued at approximately $567,600. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 38.20% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. purchased a new position in Skechers U.S.A. during the fourth quarter valued at $1,833,000. Dimensional Fund Advisors LP boosted its position in 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 valued at $30,685,000 after buying an additional 75,014 shares during the last quarter. Renaissance Technologies LLC boosted its position in 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 valued at $11,051,000 after buying an additional 32,900 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in 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 valued at $561,000 after buying an additional 1,980 shares during the last quarter. Finally, Norges Bank purchased a new position in Skechers U.S.A. during the fourth quarter valued at $30,030,000. 65.11% of the stock is currently owned by hedge funds and other 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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