Skechers USA Inc. (SKX) Now Covered by Analysts at Standpoint Research
Standpoint Research started coverage on shares of Skechers USA Inc. (NYSE:SKX) in a report published on Monday morning, The Fly reports. The firm issued a buy rating on the stock.
A number of other equities analysts also recently issued reports on the company. B. Riley reiterated a buy rating and issued a $42.00 price objective on shares of Skechers USA in a report on Tuesday, July 19th. Monness Crespi & Hardt downgraded Skechers USA from a buy rating to a neutral rating in a report on Friday, July 22nd. They noted that the move was a valuation call. Zacks Investment Research upgraded Skechers USA from a sell rating to a hold rating in a report on Monday, July 18th. Susquehanna began coverage on Skechers USA in a report on Friday, August 12th. They issued a neutral rating and a $27.00 price objective for the company. Finally, Argus downgraded Skechers USA from a buy rating to a hold rating in a report on Monday, August 1st. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $30.37.
Skechers USA (NYSE:SKX) traded up 0.66% on Monday, hitting $23.05. 703,168 shares of the stock traded hands. Skechers USA has a 1-year low of $20.90 and a 1-year high of $49.28. The company has a market cap of $3.64 billion, a price-to-earnings ratio of 13.32 and a beta of 0.15. The stock has a 50-day moving average price of $23.78 and a 200 day moving average price of $28.14.
Skechers USA (NYSE:SKX) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.52 by $0.02. The company had revenue of $877.80 million for the quarter, compared to analyst estimates of $892.06 million. Skechers USA had a return on equity of 20.20% and a net margin of 7.79%. During the same period last year, the business earned $0.52 EPS. On average, analysts anticipate that Skechers USA will post $1.80 EPS for the current fiscal year.
In other Skechers USA news, General Counsel Phillip Paccione sold 1,389 shares of the firm’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $24.12, for a total value of $33,502.68. Following the transaction, the general counsel now directly owns 90,445 shares of the company’s stock, valued at $2,181,533.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 21.73% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in SKX. Glenmede Trust Co. NA purchased a new position in shares of Skechers USA during the second quarter valued at about $117,000. US Bancorp DE boosted its position in shares of Skechers USA by 45.7% in the second quarter. US Bancorp DE now owns 5,211 shares of the company’s stock valued at $155,000 after buying an additional 1,635 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Skechers USA by 20.1% in the second quarter. PNC Financial Services Group Inc. now owns 6,442 shares of the company’s stock valued at $192,000 after buying an additional 1,079 shares during the last quarter. Ancora Advisors LLC purchased a new position in shares of Skechers USA during the second quarter valued at about $208,000. Finally, Ontario Teachers Pension Plan Board purchased a new position in shares of Skechers USA during the second quarter valued at about $210,000. 65.70% of the stock is currently owned by institutional investors and hedge funds.
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.
Receive News & Ratings for Skechers USA Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Skechers USA Inc. and related companies with MarketBeat.com's FREE daily email newsletter.