Skechers USA Inc (NYSE:SKX) shares were down 6.1% on Friday . The stock traded as low as $29.01 and last traded at $29.19, approximately 2,398,404 shares were traded during mid-day trading. An increase of 3% from the average daily volume of 2,331,882 shares. The stock had previously closed at $31.09.
Several equities research analysts have weighed in on SKX shares. OTR Global upgraded shares of Skechers USA from a “mixed” rating to a “positive” rating in a research report on Thursday, July 11th. Susquehanna Bancshares raised their price objective on shares of Skechers USA from $37.00 to $42.00 and gave the company a “positive” rating in a research report on Friday, July 19th. B. Riley restated a “buy” rating on shares of Skechers USA in a research report on Friday, April 26th. ValuEngine cut shares of Skechers USA from a “hold” rating to a “sell” rating in a research report on Friday, August 16th. Finally, Morgan Stanley raised their price objective on shares of Skechers USA from $29.00 to $34.00 and gave the company an “equal weight” rating in a research report on Friday, July 19th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $38.50.
The company has a market cap of $4.71 billion, a P/E ratio of 15.20, a price-to-earnings-growth ratio of 0.90 and a beta of 0.78. The company has a current ratio of 2.51, a quick ratio of 1.65 and a debt-to-equity ratio of 0.43. The firm’s 50 day moving average price is $34.63 and its 200-day moving average price is $32.29.
Skechers USA (NYSE:SKX) last issued its earnings results on Thursday, July 18th. The textile maker reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.16. The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.23 billion. Skechers USA had a net margin of 6.72% and a return on equity of 14.59%. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.29 EPS. Analysts predict that Skechers USA Inc will post 2.25 earnings per share for the current fiscal year.
In other Skechers USA news, Director Thomas Walsh sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $39.77, for a total transaction of $59,655.00. Following the sale, the director now directly owns 15,500 shares in the company, valued at approximately $616,435. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey Greenberg sold 90,000 shares of the firm’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $39.24, for a total transaction of $3,531,600.00. The disclosure for this sale can be found here. Insiders have sold a total of 184,500 shares of company stock worth $7,079,925 in the last three months. 28.08% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the business. Hanseatic Management Services Inc. acquired a new stake in shares of Skechers USA in the second quarter valued at approximately $43,000. Quantamental Technologies LLC acquired a new position in Skechers USA during the first quarter worth $49,000. Meeder Asset Management Inc. increased its holdings in Skechers USA by 1,569.0% during the first quarter. Meeder Asset Management Inc. now owns 3,338 shares of the textile maker’s stock worth $112,000 after buying an additional 3,138 shares during the last quarter. Atria Investments LLC acquired a new position in Skechers USA during the second quarter worth $346,000. Finally, Machina Capital S.A.S. acquired a new position in Skechers USA during the second quarter worth $120,000. Hedge funds and other institutional investors own 73.97% of the company’s stock.
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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