Wedbush Reiterates “Neutral” Rating for Skechers U.S.A., Inc. (SKX)

Wedbush restated their neutral rating on shares of Skechers U.S.A., Inc. (NYSE:SKX) in a research report report published on Monday, July 24th.

SKX has been the subject of several other research reports. Vetr raised Skechers U.S.A. from a hold rating to a buy rating and set a $26.28 price objective for the company in a research report on Thursday, April 27th. UBS AG raised Skechers U.S.A. from a neutral rating to a positive rating in a research report on Monday, June 5th. Susquehanna Bancshares Inc reissued a neutral rating and set a $25.00 price objective on shares of Skechers U.S.A. in a research report on Monday, April 24th. BidaskClub lowered Skechers U.S.A. from a buy rating to a hold rating in a research report on Thursday, July 13th. Finally, Cowen and Company reaffirmed a buy rating and issued a $35.00 price target on shares of Skechers U.S.A. in a research report on Friday, April 21st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $31.10.

Shares of Skechers U.S.A. (NYSE:SKX) traded down 1.64% during trading on Monday, hitting $26.95. 2,883,019 shares of the stock were exchanged. The firm has a 50 day moving average price of $28.45 and a 200 day moving average price of $26.59. The firm has a market capitalization of $4.27 billion, a P/E ratio of 18.69 and a beta of 0.18. Skechers U.S.A. has a 52 week low of $18.81 and a 52 week high of $30.00.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings data on Thursday, July 20th. The textile maker reported $0.38 EPS for the quarter, missing the consensus estimate of $0.44 by $0.06. The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $966.46 million. Skechers U.S.A. had a net margin of 5.92% and a return on equity of 12.79%. The business’s quarterly revenue was up 16.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.48 EPS. Analysts forecast that Skechers U.S.A. will post $1.57 EPS for the current fiscal year.

COPYRIGHT VIOLATION WARNING: “Wedbush Reiterates “Neutral” Rating for Skechers U.S.A., Inc. (SKX)” was first published by BNB Daily and is the sole property of of BNB Daily. If you are reading this piece of content on another website, it was stolen and reposted in violation of U.S. & international trademark & copyright legislation. The legal version of this piece of content can be read at https://www.baseball-news-blog.com/2017/08/19/skechers-u-s-a-s-skx-neutral-rating-reiterated-at-wedbush-updated-updated-updated.html.

In other Skechers U.S.A. news, Director Richard Rappaport sold 1,500 shares of the business’s stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $28.38, for a total transaction of $42,570.00. Following the completion of the sale, the director now directly owns 20,000 shares in the company, valued at approximately $567,600. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 21.73% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its position in shares of Skechers U.S.A. by 6.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,248,351 shares of the textile maker’s stock worth $30,685,000 after buying an additional 75,014 shares during the period. Thrivent Financial for Lutherans increased its position in shares of Skechers U.S.A. by 9.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 22,810 shares of the textile maker’s stock worth $561,000 after buying an additional 1,980 shares during the period. Norges Bank bought a new position in shares of Skechers U.S.A. during the fourth quarter worth about $30,030,000. Quadrature Capital Ltd bought a new position in shares of Skechers U.S.A. during the fourth quarter worth about $3,321,000. Finally, Macquarie Group Ltd. increased its position in shares of Skechers U.S.A. by 2,539.9% in the fourth quarter. Macquarie Group Ltd. now owns 250,790 shares of the textile maker’s stock worth $6,164,000 after buying an additional 241,290 shares during the period. Institutional investors own 67.86% of the company’s stock.

About Skechers U.S.A.

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.

Analyst Recommendations for Skechers U.S.A. (NYSE:SKX)

Receive News & Ratings for Skechers U.S.A. Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Skechers U.S.A. Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply