Susquehanna Bancshares reiterated their buy rating on shares of Skechers USA (NYSE:SKX) in a research note published on Monday morning. The brokerage currently has a $46.00 price objective on the textile maker’s stock.

SKX has been the topic of a number of other reports. Wells Fargo & Company increased their price target on shares of Skechers USA from $33.00 to $36.00 and gave the stock a market perform rating in a report on Friday, October 20th. Cowen reissued a buy rating and set a $35.00 price target on shares of Skechers USA in a report on Friday, October 27th. BidaskClub raised shares of Skechers USA from a sell rating to a hold rating in a report on Saturday, August 12th. B. Riley set a $37.00 price target on shares of Skechers USA and gave the stock a buy rating in a report on Friday, October 20th. Finally, Vetr downgraded shares of Skechers USA from a buy rating to a hold rating and set a $34.87 price target on the stock. in a report on Monday, November 20th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $36.46.

Shares of Skechers USA (NYSE:SKX) opened at $34.89 on Monday. The company has a market cap of $5,520.00, a price-to-earnings ratio of 21.85, a PEG ratio of 1.47 and a beta of 0.15. The company has a quick ratio of 2.30, a current ratio of 3.46 and a debt-to-equity ratio of 0.04. Skechers USA has a twelve month low of $22.31 and a twelve month high of $36.43.

Skechers USA (NYSE:SKX) last released its quarterly earnings data on Thursday, October 19th. The textile maker reported $0.59 EPS for the quarter, beating the consensus estimate of $0.43 by $0.16. Skechers USA had a net margin of 6.38% and a return on equity of 13.70%. The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the firm earned $0.42 EPS. The business’s revenue for the quarter was up 16.2% on a year-over-year basis. sell-side analysts predict that Skechers USA will post 1.71 earnings per share for the current fiscal year.

In other news, Director Richard Siskind sold 25,500 shares of the stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $33.40, for a total value of $851,700.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Michael Greenberg sold 150,000 shares of the stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $31.86, for a total transaction of $4,779,000.00. Following the completion of the sale, the president now owns 251,679 shares of the company’s stock, valued at $8,018,492.94. The disclosure for this sale can be found here. Insiders have sold 461,250 shares of company stock valued at $14,955,008 over the last 90 days. 38.20% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Kennedy Capital Management Inc. raised its position in shares of Skechers USA by 20.5% in the second quarter. Kennedy Capital Management Inc. now owns 643,198 shares of the textile maker’s stock valued at $18,974,000 after buying an additional 109,441 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Skechers USA by 94.5% in the second quarter. BNP Paribas Arbitrage SA now owns 58,963 shares of the textile maker’s stock valued at $1,739,000 after buying an additional 28,646 shares during the last quarter. Aristotle Fund L.P. raised its position in shares of Skechers USA by 8.2% in the second quarter. Aristotle Fund L.P. now owns 519,700 shares of the textile maker’s stock valued at $15,331,000 after buying an additional 39,200 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in shares of Skechers USA by 17.6% in the second quarter. UBS Asset Management Americas Inc. now owns 102,030 shares of the textile maker’s stock valued at $3,010,000 after buying an additional 15,284 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Skechers USA by 3.8% in the second quarter. Principal Financial Group Inc. now owns 568,669 shares of the textile maker’s stock valued at $16,776,000 after buying an additional 20,829 shares during the last quarter. Institutional investors and hedge funds own 70.13% of the company’s stock.

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Skechers USA Company Profile

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 USA (NYSE:SKX)

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