Skechers USA (NYSE:SKX) Price Target Raised to $50.00

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.



Skechers USA (NYSE:SKX) last posted its earnings results on Thursday, July 18th. The textile maker reported $0.49 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.16. Skechers USA had a return on equity of 14.80% and a net margin of 6.72%. The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the previous year, the business earned $0.29 earnings per share. The firm’s revenue was up 10.9% on a year-over-year basis. On average, equities analysts forecast that Skechers USA will post 2.09 EPS for the current year.

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

The Fly

Analyst Recommendations for Skechers USA (NYSE:SKX)

Receive News & Ratings for Skechers USA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Skechers USA and related companies with MarketBeat.com's FREE daily email newsletter.