OTR Global upgraded shares of Skechers USA (NYSE:SKX) from a mixed rating to a positive rating in a research note published on Thursday morning, The Fly reports.
A number of other equities analysts have also weighed in on the stock. B. Riley reissued a buy rating on shares of Skechers USA in a research report on Friday, April 26th. Susquehanna Bancshares upgraded shares of Skechers USA from a neutral rating to a positive rating and boosted their target price for the company from $32.00 to $37.00 in a report on Wednesday, March 27th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the stock. Skechers USA presently has a consensus rating of Hold and an average target price of $32.33.
NYSE:SKX opened at $34.11 on Thursday. The firm has a 50 day moving average price of $30.65. The company has a current ratio of 2.91, a quick ratio of 2.00 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $5.30 billion, a price-to-earnings ratio of 17.77, a PEG ratio of 2.38 and a beta of 0.72. Skechers USA has a 1-year low of $21.45 and a 1-year high of $35.66.
In other Skechers USA news, EVP Mark A. Nason sold 13,191 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $32.00, for a total transaction of $422,112.00. Following the completion of the sale, the executive vice president now directly owns 86,943 shares in the company, valued at $2,782,176. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Richard Rappaport sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $31.29, for a total transaction of $93,870.00. Following the sale, the director now owns 23,000 shares of the company’s stock, valued at $719,670. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 122,459 shares of company stock valued at $3,942,371. 28.08% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in SKX. Norges Bank purchased a new stake in Skechers USA during the fourth quarter worth approximately $29,796,000. Millennium Management LLC grew its stake in Skechers USA by 244.7% during the fourth quarter. Millennium Management LLC now owns 1,225,870 shares of the textile maker’s stock worth $28,060,000 after buying an additional 870,212 shares during the period. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Skechers USA during the first quarter worth approximately $8,391,000. Coronation Fund Managers Ltd. purchased a new stake in Skechers USA during the first quarter worth approximately $6,508,000. Finally, Gotham Asset Management LLC grew its stake in Skechers USA by 37.7% during the fourth quarter. Gotham Asset Management LLC now owns 523,525 shares of the textile maker’s stock worth $11,983,000 after buying an additional 143,432 shares during the period. Institutional investors own 76.46% of the company’s stock.
Skechers USA Company Profile
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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