Skechers USA Inc (NYSE:SKX) Given Consensus Recommendation of “Hold” by Analysts

Shares of Skechers USA Inc (NYSE:SKX) have earned an average rating of “Hold” from the seventeen research firms that are currently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation, five have given a hold recommendation and eight have given a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $39.10.

A number of equities analysts have commented on SKX shares. Wells Fargo & Co set a $40.00 target price on Skechers USA and gave the company a “hold” rating in a research note on Friday, July 19th. Monness Crespi & Hardt restated a “buy” rating and issued a $42.00 target price (up from $35.00) on shares of Skechers USA in a research note 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 note on Friday, April 26th. Morgan Stanley lifted their target price on Skechers USA from $29.00 to $34.00 and gave the company an “equal weight” rating in a research note on Friday, July 19th. Finally, Susquehanna Bancshares lifted their target price on Skechers USA from $37.00 to $42.00 and gave the company a “positive” rating in a research note on Friday, July 19th.

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



Hedge funds and other institutional investors have recently modified their holdings of the company. Maverick Capital Ltd. acquired a new stake in Skechers USA during the 2nd quarter valued at $16,723,000. Royal Bank of Canada raised its stake in Skechers USA by 2.3% during the 2nd quarter. Royal Bank of Canada now owns 397,686 shares of the textile maker’s stock valued at $12,523,000 after purchasing an additional 8,987 shares during the period. Voleon Capital Management LP acquired a new stake in Skechers USA during the 2nd quarter valued at $3,023,000. Nuveen Asset Management LLC raised its stake in Skechers USA by 1,495.8% during the 2nd quarter. Nuveen Asset Management LLC now owns 322,019 shares of the textile maker’s stock valued at $10,140,000 after purchasing an additional 301,840 shares during the period. Finally, UBS Asset Management Americas Inc. raised its stake in Skechers USA by 9.9% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 159,392 shares of the textile maker’s stock valued at $5,019,000 after purchasing an additional 14,321 shares during the period. Institutional investors and hedge funds own 73.97% of the company’s stock.

Skechers USA stock traded up $0.70 during midday trading on Wednesday, hitting $31.10. The stock had a trading volume of 1,544,110 shares, compared to its average volume of 2,335,339. The company has a current ratio of 2.51, a quick ratio of 1.65 and a debt-to-equity ratio of 0.43. The stock has a market cap of $4.86 billion, a P/E ratio of 16.20, a P/E/G ratio of 0.94 and a beta of 0.78. Skechers USA has a 12 month low of $21.45 and a 12 month high of $40.50. The business has a fifty day moving average price of $34.72 and a 200 day moving average price of $32.25.

Skechers USA (NYSE:SKX) last announced its quarterly earnings data on Thursday, July 18th. The textile maker reported $0.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.16. The firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.23 billion. Skechers USA had a return on equity of 14.59% and a net margin of 6.72%. Skechers USA’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.29 earnings per share. On average, equities analysts anticipate that Skechers USA will post 2.25 EPS for the current fiscal year.

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.

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Analyst Recommendations for Skechers USA (NYSE:SKX)

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