Skechers USA (NYSE:SKX) Stock Rating Lowered by ValuEngine

Skechers USA (NYSE:SKX) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a research note issued on Friday, ValuEngine reports.

A number of other research analysts also recently issued reports on SKX. Monness Crespi & Hardt restated a “buy” rating and set a $42.00 target price (up from $35.00) on shares of Skechers USA in a research report on Friday, July 19th. They noted that the move was a valuation call. B. Riley restated a “buy” rating on shares of Skechers USA in a research report on Friday, April 26th. OTR Global upgraded shares of Skechers USA from a “mixed” rating to a “positive” rating in a research report on Thursday, July 11th. Stifel Nicolaus upped their target price on shares of Skechers USA from $35.00 to $44.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Finally, Wedbush upgraded shares of Skechers USA from a “neutral” rating to an “outperform” rating and upped their target price for the company from $31.00 to $46.00 in a research report on Friday, July 19th. Three analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $38.50.

Skechers USA stock traded up $0.27 during trading hours on Friday, reaching $31.02. 1,741,848 shares of the company’s stock traded hands, compared to its average volume of 2,346,728. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.65 and a current ratio of 2.51. Skechers USA has a fifty-two week low of $21.45 and a fifty-two week high of $40.50. The firm has a market capitalization of $4.89 billion, a price-to-earnings ratio of 16.16, a PEG ratio of 1.00 and a beta of 0.78. The firm’s 50 day moving average is $34.80 and its 200-day moving average is $32.24.



Skechers USA (NYSE:SKX) last released its earnings results on Thursday, July 18th. The textile maker reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.16. Skechers USA had a net margin of 6.72% and a return on equity of 14.59%. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the prior year, the company posted $0.29 EPS. The company’s revenue was up 10.9% compared to the same quarter last year. Analysts predict that Skechers USA will post 2.21 EPS for the current year.

In related news, Director Jeffrey Greenberg sold 90,000 shares of the stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $39.24, for a total value of $3,531,600.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Richard Rappaport sold 3,000 shares of the stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $31.29, for a total transaction of $93,870.00. Following the completion of the sale, the director now owns 23,000 shares in the company, valued at $719,670. The disclosure for this sale can be found here. Insiders sold a total of 184,500 shares of company stock worth $7,079,925 over the last quarter. 28.08% of the stock is currently owned by corporate insiders.

Large investors have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in Skechers USA by 0.9% during the 2nd quarter. BlackRock Inc. now owns 11,776,053 shares of the textile maker’s stock worth $370,827,000 after purchasing an additional 104,462 shares in the last quarter. AQR Capital Management LLC increased its stake in Skechers USA by 120.9% during the 2nd quarter. AQR Capital Management LLC now owns 3,891,267 shares of the textile maker’s stock worth $121,213,000 after purchasing an additional 2,129,743 shares in the last quarter. Tremblant Capital Group increased its stake in Skechers USA by 20.3% during the 2nd quarter. Tremblant Capital Group now owns 2,353,232 shares of the textile maker’s stock worth $74,103,000 after purchasing an additional 397,260 shares in the last quarter. Boston Partners increased its stake in Skechers USA by 5.1% during the 1st quarter. Boston Partners now owns 2,056,345 shares of the textile maker’s stock worth $69,114,000 after purchasing an additional 100,685 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Skechers USA by 6.1% during the 4th quarter. Geode Capital Management LLC now owns 1,369,816 shares of the textile maker’s stock worth $31,355,000 after purchasing an additional 79,002 shares in the last quarter. Institutional investors and hedge funds own 76.13% of the company’s stock.

About Skechers USA

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.

Read More: What is Cost of Goods Sold (COGS)?

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Analyst Recommendations for Skechers USA (NYSE:SKX)

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