Skechers U.S.A., Inc. (NYSE:SKX) Receives $49.92 Average PT from Brokerages

Skechers U.S.A., Inc. (NYSE:SKXGet Rating) has earned an average rating of “Moderate Buy” from the fifteen analysts that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $49.92.

Several research firms have recently issued reports on SKX. Cowen lifted their price target on Skechers U.S.A. from $31.00 to $48.00 in a research note on Tuesday, December 6th. Monness Crespi & Hardt lifted their price target on Skechers U.S.A. to $50.00 in a research note on Friday, December 2nd. StockNews.com assumed coverage on Skechers U.S.A. in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Wedbush dropped their price objective on Skechers U.S.A. from $42.00 to $37.00 in a research report on Wednesday, October 26th. Finally, Morgan Stanley dropped their price objective on Skechers U.S.A. from $59.00 to $54.00 and set an “overweight” rating for the company in a research report on Wednesday, October 26th.

Skechers U.S.A. Price Performance

Skechers U.S.A. stock opened at $46.22 on Friday. Skechers U.S.A. has a one year low of $31.28 and a one year high of $49.89. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.14 and a current ratio of 2.27. The business has a fifty day moving average of $41.99 and a two-hundred day moving average of $38.48. The company has a market cap of $7.17 billion, a P/E ratio of 10.36 and a beta of 1.28.

Skechers U.S.A. (NYSE:SKXGet Rating) last released its quarterly earnings results on Tuesday, October 25th. The textile maker reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.19). The firm had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.84 billion. Skechers U.S.A. had a return on equity of 10.03% and a net margin of 9.70%. As a group, analysts predict that Skechers U.S.A. will post 2.26 earnings per share for the current fiscal year.

Insider Buying and Selling at Skechers U.S.A.

In other news, President Michael Greenberg sold 10,503 shares of the business’s stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $42.29, for a total transaction of $444,171.87. Following the completion of the sale, the president now owns 427,080 shares in the company, valued at approximately $18,061,213.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Katherine J. Blair sold 1,500 shares of the business’s stock in a transaction dated Tuesday, November 1st. The stock was sold at an average price of $35.16, for a total transaction of $52,740.00. Following the completion of the sale, the director now owns 10,500 shares in the company, valued at approximately $369,180. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Michael Greenberg sold 10,503 shares of the business’s stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $42.29, for a total value of $444,171.87. Following the sale, the president now owns 427,080 shares of the company’s stock, valued at approximately $18,061,213.20. The disclosure for this sale can be found here. Insiders sold 20,967 shares of company stock worth $876,358 in the last 90 days. 24.44% of the stock is owned by company insiders.

Institutional Trading of Skechers U.S.A.

A number of institutional investors have recently modified their holdings of the company. Pzena Investment Management LLC lifted its position in Skechers U.S.A. by 16.4% during the 2nd quarter. Pzena Investment Management LLC now owns 8,033,986 shares of the textile maker’s stock worth $285,849,000 after acquiring an additional 1,129,142 shares in the last quarter. Samlyn Capital LLC acquired a new position in Skechers U.S.A. during the 2nd quarter worth approximately $27,160,000. Dimensional Fund Advisors LP lifted its position in Skechers U.S.A. by 19.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,949,350 shares of the textile maker’s stock worth $93,568,000 after acquiring an additional 478,224 shares in the last quarter. Balyasny Asset Management LLC lifted its position in Skechers U.S.A. by 27.3% during the 3rd quarter. Balyasny Asset Management LLC now owns 1,913,365 shares of the textile maker’s stock worth $60,692,000 after acquiring an additional 410,353 shares in the last quarter. Finally, Bank of Montreal Can lifted its position in Skechers U.S.A. by 2,598.2% during the 3rd quarter. Bank of Montreal Can now owns 404,725 shares of the textile maker’s stock worth $13,919,000 after acquiring an additional 389,725 shares in the last quarter. Hedge funds and other institutional investors own 93.29% of the company’s stock.

Skechers U.S.A. Company Profile

(Get Rating)

Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children; and performance footwear for men and women worldwide. The company operates through three segments: Domestic Wholesale, International Wholesale, and Direct-to-Consumer. It offers casual, casual athletic, sport athletic, trail, sandals, boots, and retro fashion footwear for men and women under the Skechers USA, Skechers Sport, Skechers Active, Modern Comfort, Skechers Street, Mark Nason, and BOBS brands; sneakers, casuals, boots, and sandals for boys and girls under the Skechers Mega-Craft, S-Lights, SKECH-AIR, Foamies, Twinkle Toes, Z-Strap, Skechers Stretch Fit, and Skechers Street brands; and technical footwear under the Skechers GOrun, Skechers GOwalk, Skechers GOtrain, Skechers GOtrail, and Skechers GO Golf brands.

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Analyst Recommendations for Skechers U.S.A. (NYSE:SKX)

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