Vetr upgraded shares of Skechers U.S.A., Inc. (NYSE:SKX) from a buy rating to a strong-buy rating in a report issued on Monday morning. Vetr currently has $34.87 target price on the textile maker’s stock.
A number of other equities research analysts have also recently weighed in on SKX. B. Riley reaffirmed a buy rating and set a $37.00 price target on shares of Skechers U.S.A. in a report on Friday, July 21st. Cowen and Company set a $35.00 target price on Skechers U.S.A. and gave the company a buy rating in a research note on Monday, August 14th. BidaskClub raised Skechers U.S.A. from a sell rating to a hold rating in a research note on Saturday, August 12th. Susquehanna Bancshares Inc reissued a buy rating on shares of Skechers U.S.A. in a research note on Friday, October 20th. Finally, Zacks Investment Research raised Skechers U.S.A. from a sell rating to a hold rating in a research note on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of Buy and an average price target of $34.74.
Shares of Skechers U.S.A. (SKX) opened at $32.80 on Monday. Skechers U.S.A. has a twelve month low of $21.33 and a twelve month high of $34.87. The firm has a market capitalization of $5,200.00, a price-to-earnings ratio of 20.06, a P/E/G ratio of 1.37 and a beta of 0.11. The company has a current ratio of 3.46, a quick ratio of 2.30 and a debt-to-equity ratio of 0.04.
Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings results on Thursday, October 19th. The textile maker reported $0.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.16. Skechers U.S.A. had a return on equity of 13.70% and a net margin of 6.38%. The firm had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period last year, the firm posted $0.42 EPS. The business’s revenue was up 16.2% on a year-over-year basis. equities analysts anticipate that Skechers U.S.A. will post 1.69 earnings per share for the current fiscal year.
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In related news, General Counsel Phillip Paccione sold 1,004 shares of Skechers U.S.A. stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $27.24, for a total transaction of $27,348.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey Greenberg sold 30,000 shares of Skechers U.S.A. stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $31.72, for a total value of $951,600.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 386,504 shares of company stock valued at $12,319,249. 21.73% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Skechers U.S.A. by 5.0% during the second quarter. Vanguard Group Inc. now owns 10,543,894 shares of the textile maker’s stock worth $311,045,000 after purchasing an additional 500,360 shares during the period. Amerigo Asset Management lifted its holdings in Skechers U.S.A. by 38.2% during the second quarter. Amerigo Asset Management now owns 6,134,253 shares of the textile maker’s stock worth $180,960,000 after acquiring an additional 1,694,253 shares in the last quarter. State Street Corp lifted its holdings in Skechers U.S.A. by 47.2% during the second quarter. State Street Corp now owns 5,031,124 shares of the textile maker’s stock worth $148,423,000 after acquiring an additional 1,613,977 shares in the last quarter. Prudential Financial Inc. lifted its holdings in Skechers U.S.A. by 125.7% during the second quarter. Prudential Financial Inc. now owns 2,302,352 shares of the textile maker’s stock worth $67,919,000 after acquiring an additional 1,282,260 shares in the last quarter. Finally, Mik Capital LLC bought a new position in Skechers U.S.A. during the second quarter worth about $56,285,000. 70.10% of the stock is owned by institutional investors and hedge funds.
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.
To view Vetr’s full report, visit Vetr’s official website.
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