Skechers USA Inc (NYSE:SKX) Receives $43.86 Consensus Price Target from Analysts

Shares of Skechers USA Inc (NYSE:SKX) have been given an average rating of “Hold” by the seventeen analysts that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, four have given a hold recommendation and nine have given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $43.86.

SKX has been the subject of a number of analyst reports. ValuEngine lowered shares of Skechers USA from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Wedbush set a $46.00 target price on shares of Skechers USA and gave the company a “buy” rating in a research note on Monday, September 23rd. Deutsche Bank initiated coverage on shares of Skechers USA in a research note on Tuesday, December 17th. They set a “buy” rating and a $49.00 target price for the company. Argus raised shares of Skechers USA from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Friday, December 13th. Finally, Monness Crespi & Hardt boosted their target price on shares of Skechers USA from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, December 23rd.

In related news, Director Jeffrey Greenberg sold 90,000 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $37.44, for a total transaction of $3,369,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Phillip Paccione sold 899 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $41.28, for a total transaction of $37,110.72. Following the sale, the general counsel now directly owns 55,000 shares of the company’s stock, valued at $2,270,400. The disclosure for this sale can be found here. Insiders sold 187,051 shares of company stock valued at $7,239,743 over the last three months. Insiders own 28.08% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its holdings in Skechers USA by 0.9% in the 2nd quarter. BlackRock Inc. now owns 11,776,053 shares of the textile maker’s stock valued at $370,827,000 after purchasing an additional 104,462 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Skechers USA by 33.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,986,576 shares of the textile maker’s stock worth $223,599,000 after purchasing an additional 1,500,268 shares during the period. AQR Capital Management LLC boosted its position in Skechers USA by 120.9% during the second quarter. AQR Capital Management LLC now owns 3,891,267 shares of the textile maker’s stock worth $121,213,000 after purchasing an additional 2,129,743 shares during the period. Tremblant Capital Group boosted its position in Skechers USA by 20.3% during the second quarter. Tremblant Capital Group now owns 2,353,232 shares of the textile maker’s stock worth $74,103,000 after purchasing an additional 397,260 shares during the period. Finally, Balyasny Asset Management LLC bought a new stake in shares of Skechers USA in the second quarter valued at about $37,073,000. 75.69% of the stock is owned by institutional investors and hedge funds.

Shares of SKX traded up $0.65 during midday trading on Friday, hitting $43.04. The company had a trading volume of 586,220 shares, compared to its average volume of 1,232,128. The company’s 50 day moving average price is $42.09 and its 200 day moving average price is $37.30. The stock has a market cap of $6.65 billion, a price-to-earnings ratio of 22.42, a PEG ratio of 1.13 and a beta of 0.78. Skechers USA has a 52 week low of $25.19 and a 52 week high of $44.49. The company has a quick ratio of 1.57, a current ratio of 2.37 and a debt-to-equity ratio of 0.43.

Skechers USA (NYSE:SKX) last released its earnings results on Tuesday, October 22nd. The textile maker reported $0.67 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by ($0.02). The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.34 billion. Skechers USA had a return on equity of 14.85% and a net margin of 6.73%. Skechers USA’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.58 EPS. Equities analysts anticipate that Skechers USA will post 2.25 EPS for the current fiscal year.

About Skechers USA

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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Analyst Recommendations for Skechers USA (NYSE:SKX)

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