Skechers USA (NYSE:SKX)‘s stock had its “buy” rating restated by Wedbush in a research note issued on Wednesday. They presently have a $45.00 price target on the textile maker’s stock, up from their prior price target of $39.00. Wedbush’s target price would suggest a potential upside of 17.65% from the company’s previous close. Wedbush also issued estimates for Skechers USA’s Q4 2017 earnings at $0.13 EPS, FY2017 earnings at $1.70 EPS, Q1 2018 earnings at $0.81 EPS, Q2 2018 earnings at $0.55 EPS, Q3 2018 earnings at $0.66 EPS, Q4 2018 earnings at $0.18 EPS and FY2018 earnings at $2.20 EPS.

SKX has been the topic of several other reports. Wells Fargo & Co raised their price objective on shares of Skechers USA from $33.00 to $36.00 and gave the stock a “market perform” rating in a research report on Friday, October 20th. Cowen reissued a “buy” rating and set a $35.00 price objective on shares of Skechers USA in a research report on Friday, October 27th. Argus upgraded shares of Skechers USA from a “hold” rating to a “buy” rating in a research note on Friday, December 15th. Susquehanna Bancshares restated a “buy” rating and issued a $46.00 target price on shares of Skechers USA in a research note on Monday, December 4th. Finally, B. Riley set a $37.00 target price on shares of Skechers USA and gave the stock a “buy” rating in a research note on Friday, October 20th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $37.96.

Shares of Skechers USA (NYSE SKX) traded down $0.48 during trading on Wednesday, reaching $38.25. 2,518,000 shares of the company’s stock traded hands, compared to its average volume of 1,962,933. Skechers USA has a 52 week low of $22.31 and a 52 week high of $39.71. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.46 and a quick ratio of 2.30. The stock has a market cap of $5,990.00, a P/E ratio of 23.61, a P/E/G ratio of 1.28 and a beta of 0.14.

Skechers USA (NYSE:SKX) last issued its quarterly earnings data on Thursday, October 19th. The textile maker reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the firm posted $0.42 EPS. Skechers USA’s revenue for the quarter was up 16.2% on a year-over-year basis. sell-side analysts anticipate that Skechers USA will post 1.7 earnings per share for the current year.

In related news, Director Richard Rappaport sold 1,000 shares of the firm’s stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $38.24, for a total value of $38,240.00. Following the completion of the sale, the director now owns 19,000 shares in the company, valued at $726,560. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey Greenberg sold 180,000 shares of the firm’s stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $31.72, for a total transaction of $5,709,600.00. The disclosure for this sale can be found here. Insiders sold a total of 962,250 shares of company stock valued at $33,823,248 in the last 90 days. Company insiders own 21.73% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in SKX. Schwab Charles Investment Management Inc. lifted its stake in shares of Skechers USA by 11.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 711,659 shares of the textile maker’s stock valued at $20,994,000 after purchasing an additional 75,217 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Skechers USA by 2.6% in the second quarter. Bank of New York Mellon Corp now owns 1,529,037 shares of the textile maker’s stock valued at $45,108,000 after purchasing an additional 39,207 shares during the period. Legal & General Group Plc lifted its stake in shares of Skechers USA by 21.2% in the second quarter. Legal & General Group Plc now owns 112,814 shares of the textile maker’s stock valued at $3,328,000 after purchasing an additional 19,768 shares during the period. American Century Companies Inc. acquired a new stake in shares of Skechers USA in the second quarter valued at about $313,000. Finally, Utah Retirement Systems lifted its stake in shares of Skechers USA by 1.3% in the second quarter. Utah Retirement Systems now owns 24,000 shares of the textile maker’s stock valued at $708,000 after purchasing an additional 300 shares during the period. Hedge funds and other institutional investors own 70.08% of the company’s stock.

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About Skechers USA

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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