Skechers USA, Inc. (NYSE:SKX) receives average PT of $76.75 from analysts

Shares of Skechers USA, Inc. (NYSE:SKX – Get Your Free Report ) has been given a consensus recommendation of “Buy” by the twelve ratings firms that are covering the company, MarketBeat.com reports. Twelve research analysts have rated the stock with a buy rating. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $76.75.

A number of brokerages weighed in on SKX. Wells Fargo & Company began coverage on Skechers USA in a report on Wednesday, June 12th. They issued an “overweight” rating and a $83.00 price target for the company. Morgan Stanley upgraded shares of Skechers USA from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $60.00 to $80.00 in a research report on Tuesday. July 23. Bank of America raised shares of Skechers USA from a “neutral” rating to a “buy” rating and upped their price target for the stock from $71.00 to $87.00 in a research note on Friday. June 7. TD Cowen lifted their price target on shares of Skechers USA from $77.00 to $79.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Finally, Wedbush boosted their price objective on shares of Skechers USA from $76.00 to $79.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th.

Get the latest stock analysis on SKX

Insider buying and selling

In other Skechers USA news, General Counsel Phillip Paccione sold 423 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $69.45, for a total transaction of $29,377.35. Following the transaction, the general counsel now directly owns 35,000 shares in the company, valued at approximately $2,430,750. The sale was disclosed in a filing with the SEC, which is available via this hyperlink. 24.75% of shares are currently owned by corporate insiders.

Institutional investors weigh in on Skechers USA

Several institutional investors and hedge funds have recently added to or reduced their stakes in SKX. Bessemer Group Inc. raised its stake in shares of Skechers USA by 66.7% in the first quarter. Bessemer Group Inc. now owns 410 shares of the textile maker’s stock worth $25,000 after buying an additional 164 shares during the last quarter. CIBC Asset Management Inc raised its position in shares of Skechers USA by 4.7% during the second quarter. CIBC Asset Management Inc now owns 3,820 shares of the textile maker’s stock valued at $264,000 after acquiring an additional 173 shares during the last quarter. Bfsg LLC boosted its holdings in Skechers USA by 2.9% in the fourth quarter. Bfsg LLC now owns 6,545 shares of the textile maker’s stock worth $408,000 after acquiring an additional 186 shares during the period. QRG Capital Management Inc. boosted its position in Skechers USA by 2.0% in the first quarter. QRG Capital Management Inc. now owns 10,047 shares of the textile maker’s stock worth $615,000 after buying an additional 194 shares during the last quarter. Finally, National Bank of Canada FI raised its holdings in Skechers USA by 7.1% during the 4th quarter. National Bank of Canada FI now owns 3,035 shares of the textile maker’s stock, valued at $188,000 after bought an additional 200 shares during the period. Hedge funds and other institutional investors own 79.96% of the company’s shares.

Skechers US trades down 1.4%

NYSE:SKX opened at $62.72 on Monday. Skechers USA has a 52 week low of $45.58 and a 52 week high of $75.09. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33, and a current ratio of 2.06. The company’s fifty-day moving average is $67.30, and its 200-day moving average is $64.07. The firm has a market cap of $9.55 billion, a P/E ratio of 16.51, a P/E/G ratio of 0.86 and a beta of 1.25.

Skechers USA (NYSE:SKX – Get Your Free Report ) last posted its earnings results on Thursday, July 25th. The textile maker reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.04). Skechers USA had a net margin of 6.90% and a return on equity of 13.04%. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.24 billion. In the same quarter last year, the firm earned $0.98 EPS. Skechers USA’s quarterly revenue was up 7.3% on a year-over-year basis. equities analysts expect that Skechers USA will post 4.17 earnings per share for the current year.

Skechers USA Company Profile

(Get a free report

Skechers U.SA, Inc designs, develops, markets and distributes footwear for men, women and children worldwide. The company operates through Wholesale and Direct-to-Consumer segments. It offers footwear under the brands Skechers Hands Free Slip-ins, Skechers Arch Fit and Skechers Air-Cooled Memory Foam.

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