Skechers USA (SKX) Shares Gap Up to $31.91
Skechers USA Inc (NYSE:SKX) gapped up prior to trading on Monday . The stock had previously closed at $31.22, but opened at $31.91. Skechers USA shares last traded at $32.53, with a volume of 117375 shares.
A number of research firms have commented on SKX. Zacks Investment Research cut shares of Skechers USA from a “buy” rating to a “hold” rating in a report on Monday, December 10th. Monness Crespi & Hardt restated a “buy” rating and issued a $35.00 price target (up from $32.00) on shares of Skechers USA in a report on Friday. Finally, Morgan Stanley set a $29.00 price target on shares of Skechers USA and gave the stock a “hold” rating in a report on Friday. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $31.95.
The firm has a market cap of $5.04 billion, a PE ratio of 17.04, a PEG ratio of 2.36 and a beta of 0.62. The company has a current ratio of 2.91, a quick ratio of 1.89 and a debt-to-equity ratio of 0.04.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Parkside Financial Bank & Trust boosted its holdings in Skechers USA by 42.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,423 shares of the textile maker’s stock worth $33,000 after purchasing an additional 423 shares during the last quarter. Ffcm LLC boosted its holdings in Skechers USA by 131.7% during the fourth quarter. Ffcm LLC now owns 4,506 shares of the textile maker’s stock worth $103,000 after purchasing an additional 2,561 shares during the last quarter. First Mercantile Trust Co. purchased a new position in Skechers USA during the third quarter worth about $139,000. Benjamin F. Edwards & Company Inc. boosted its holdings in Skechers USA by 68.6% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 5,002 shares of the textile maker’s stock worth $114,000 after purchasing an additional 2,035 shares during the last quarter. Finally, NuWave Investment Management LLC boosted its holdings in Skechers USA by 92.2% during the third quarter. NuWave Investment Management LLC now owns 5,011 shares of the textile maker’s stock worth $140,000 after purchasing an additional 2,404 shares during the last quarter. Hedge funds and other institutional investors own 74.33% of the company’s stock.
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About Skechers USA (NYSE:SKX)
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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