Skechers USA (NYSE:SKX) had its price objective raised by UBS Group to $50.00 in a research note released on Friday, The Fly reports. UBS Group currently has a buy rating on the textile maker’s stock.
SKX has been the subject of several other reports. OTR Global upgraded Skechers USA from a mixed rating to a positive rating in a research report on Thursday, July 11th. Susquehanna Bancshares upgraded Skechers USA from a neutral rating to a positive rating and boosted their target price for the stock from $32.00 to $37.00 in a research report on Wednesday, March 27th. Finally, B. Riley restated a buy rating on shares of Skechers USA in a research report on Friday, April 26th. Two analysts have rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company. Skechers USA presently has a consensus rating of Hold and a consensus target price of $37.33.
Shares of SKX opened at $39.01 on Friday. The company has a market capitalization of $6.14 billion, a price-to-earnings ratio of 20.32, a PEG ratio of 2.75 and a beta of 0.72. The company has a fifty day moving average price of $31.57. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.00 and a current ratio of 2.91. Skechers USA has a 1 year low of $21.45 and a 1 year high of $40.50.
In related news, CEO Robert Greenberg sold 25,210 shares of the stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $31.17, for a total transaction of $785,795.70. Following the completion of the sale, the chief executive officer now directly owns 625,210 shares in the company, valued at approximately $19,487,795.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Michael Greenberg sold 22,689 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $31.17, for a total value of $707,216.13. Following the sale, the president now owns 534,269 shares of the company’s stock, valued at $16,653,164.73. The disclosure for this sale can be found here. Insiders sold a total of 92,690 shares of company stock valued at $2,900,456 over the last quarter. Company insiders own 28.08% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. FNY Investment Advisers LLC bought a new position in shares of Skechers USA in the 1st quarter worth approximately $33,000. Hanseatic Management Services Inc. bought a new position in shares of Skechers USA in the 2nd quarter worth approximately $43,000. Quantamental Technologies LLC bought a new position in shares of Skechers USA in the 1st quarter worth approximately $49,000. Meeder Asset Management Inc. raised its position in shares of Skechers USA by 1,569.0% in the 1st quarter. Meeder Asset Management Inc. now owns 3,338 shares of the textile maker’s stock worth $112,000 after acquiring an additional 3,138 shares in the last quarter. Finally, Machina Capital S.A.S. bought a new position in shares of Skechers USA in the 2nd quarter worth approximately $120,000. Institutional investors own 76.45% of the company’s stock.
Skechers USA Company Profile
Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children; and performance footwear for men and women under the Skechers GO brand worldwide. It operates through three segments: Domestic Wholesale Sales, International Wholesale Sales, and Retail Sales. The company offers casual boots, shoes, and sandals for men; shoes, oxfords and slip-ons, lug outsole and fashion boots, and casual sandals for women; dress casuals, seasonal sandals and boots, classic and wide fit, and relaxed fit casuals for men and women; and casual athletic line for men and women under the Skechers USA brand.
Further Reading: Depreciation
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