Skechers USA Inc. (SKX) Upgraded by Vetr Inc. to “Strong-Buy”
Vetr upgraded shares of Skechers USA Inc. (NYSE:SKX) from a buy rating to a strong-buy rating in a research report report published on Tuesday. They currently have $24.54 price target on the stock.
Other research analysts also recently issued research reports about the company. B. Riley downgraded Skechers USA from a buy rating to a neutral rating and set a $24.00 target price on the stock. in a report on Thursday, November 3rd. Cowen and Company reaffirmed a hold rating on shares of Skechers USA in a research note on Friday, October 21st. Susquehanna initiated coverage on Skechers USA in a research note on Friday, August 12th. They issued a neutral rating and a $27.00 price objective on the stock. Wedbush initiated coverage on Skechers USA in a research note on Tuesday, November 1st. They issued a neutral rating and a $23.00 price objective on the stock. Finally, Argus downgraded Skechers USA from a buy rating to a hold rating in a research note on Monday, August 1st. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $27.04.
Shares of Skechers USA (NYSE:SKX) opened at 21.48 on Tuesday. Skechers USA has a 52-week low of $18.81 and a 52-week high of $34.27. The company has a market cap of $3.39 billion, a P/E ratio of 12.48 and a beta of 0.27. The company has a 50-day moving average price of $21.56 and a 200-day moving average price of $25.47.
Skechers USA (NYSE:SKX) last posted its earnings results on Thursday, October 20th. The company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by $0.04. Skechers USA had a net margin of 7.56% and a return on equity of 17.44%. The firm earned $942.40 million during the quarter, compared to the consensus estimate of $954.38 million. During the same period in the prior year, the company posted $0.43 EPS. The firm’s revenue was up 10.1% compared to the same quarter last year. On average, equities analysts predict that Skechers USA will post $1.63 EPS for the current year.
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In other news, Director Thomas Walsh sold 1,500 shares of Skechers USA stock in a transaction that occurred on Wednesday, November 23rd. The stock was sold at an average price of $22.64, for a total value of $33,960.00. Following the completion of the transaction, the director now owns 11,500 shares in the company, valued at approximately $260,360. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Michael Greenberg sold 150,000 shares of Skechers USA stock in a transaction that occurred on Wednesday, November 2nd. The stock was sold at an average price of $20.58, for a total value of $3,087,000.00. Following the completion of the transaction, the president now owns 401,679 shares of the company’s stock, valued at approximately $8,266,553.82. The disclosure for this sale can be found here. 21.73% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in SKX. D.A. Davidson & CO. boosted its position in shares of Skechers USA by 2.2% in the third quarter. D.A. Davidson & CO. now owns 10,271 shares of the company’s stock worth $234,000 after buying an additional 222 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Skechers USA by 1,845.7% in the third quarter. Price T Rowe Associates Inc. MD now owns 1,063,129 shares of the company’s stock worth $24,346,000 after buying an additional 1,008,490 shares during the period. LPL Financial LLC boosted its position in shares of Skechers USA by 3.9% in the third quarter. LPL Financial LLC now owns 14,633 shares of the company’s stock worth $338,000 after buying an additional 548 shares during the period. Cornerstone Capital Management Holdings LLC. boosted its position in shares of Skechers USA by 265.6% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 114,063 shares of the company’s stock worth $2,611,000 after buying an additional 82,863 shares during the period. Finally, Credit Suisse AG boosted its position in shares of Skechers USA by 19.0% in the third quarter. Credit Suisse AG now owns 739,665 shares of the company’s stock worth $16,938,000 after buying an additional 118,341 shares during the period. Hedge funds and other institutional investors own 61.06% of the company’s stock.
Skechers USA Company Profile
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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