Vetr Inc. Lowers Skechers USA Inc. (SKX) to Buy
Vetr downgraded shares of Skechers USA Inc. (NYSE:SKX) from a strong-buy rating to a buy rating in a report published on Thursday. The brokerage currently has $25.25 price objective on the stock.
A number of other brokerages have also weighed in on SKX. B. Riley restated a buy rating and issued a $42.00 target price on shares of Skechers USA in a research note on Tuesday, July 19th. Zacks Investment Research upgraded Skechers USA from a sell rating to a hold rating in a research note on Monday, July 18th. Monness Crespi & Hardt lowered Skechers USA from a buy rating to a neutral rating in a research note on Friday, July 22nd. They noted that the move was a valuation call. Citigroup Inc. restated a buy rating and issued a $38.00 target price on shares of Skechers USA in a research note on Tuesday, August 23rd. Finally, Susquehanna started coverage on Skechers USA in a research report on Friday, August 12th. They issued a neutral rating and a $27.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Skechers USA has a consensus rating of Buy and an average target price of $28.42.
Shares of Skechers USA (NYSE:SKX) opened at 22.67 on Thursday. The stock has a market capitalization of $3.58 billion, a price-to-earnings ratio of 13.10 and a beta of 0.15. The stock has a 50 day moving average of $23.06 and a 200-day moving average of $27.38. Skechers USA has a 52-week low of $20.90 and a 52-week high of $46.95.
Skechers USA (NYSE:SKX) last announced its earnings results on Thursday, July 21st. The company reported $0.50 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.52 by $0.02. Skechers USA had a net margin of 7.79% and a return on equity of 20.20%. The business earned $877.80 million during the quarter, compared to analyst estimates of $892.06 million. During the same quarter last year, the business posted $0.52 earnings per share. On average, equities research analysts predict that Skechers USA will post $1.80 EPS for the current fiscal year.
In other news, General Counsel Phillip Paccione sold 1,389 shares of the firm’s stock in a transaction that occurred on 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 owns 90,445 shares in the company, valued at $2,181,533.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 21.73% of the stock is owned by insiders.
A number of hedge funds have recently modified their holdings of SKX. Capital Analysts LLC raised its stake in shares of Skechers USA by 0.7% in the second quarter. Capital Analysts LLC now owns 20,638 shares of the company’s stock worth $613,000 after buying an additional 148 shares during the period. Boston Advisors LLC raised its stake in shares of Skechers USA by 0.5% in the second quarter. Boston Advisors LLC now owns 44,585 shares of the company’s stock worth $1,325,000 after buying an additional 205 shares during the period. Public Employees Retirement Association of Colorado raised its stake in shares of Skechers USA by 0.8% in the second quarter. Public Employees Retirement Association of Colorado now owns 31,113 shares of the company’s stock worth $925,000 after buying an additional 244 shares during the period. Profund Advisors LLC raised its stake in shares of Skechers USA by 1.9% in the second quarter. Profund Advisors LLC now owns 15,772 shares of the company’s stock worth $469,000 after buying an additional 299 shares during the period. Finally, Tower Research Capital LLC TRC raised its stake in shares of Skechers USA by 3.9% in the second quarter. Tower Research Capital LLC TRC now owns 9,966 shares of the company’s stock worth $296,000 after buying an additional 377 shares during the period. Institutional investors and hedge funds own 65.73% 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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