Skechers USA Inc (NYSE:SKX) – B. Riley dropped their Q1 2018 EPS estimates for shares of Skechers USA in a report released on Friday. B. Riley analyst J. Van. Sinderen now forecasts that the textile maker will earn $0.71 per share for the quarter, down from their previous forecast of $0.79. B. Riley currently has a “Buy” rating and a $50.00 price objective on the stock. B. Riley also issued estimates for Skechers USA’s Q2 2018 earnings at $0.56 EPS, Q3 2018 earnings at $0.77 EPS, FY2018 earnings at $2.33 EPS and FY2019 earnings at $2.78 EPS.

Skechers USA (NYSE:SKX) last issued its earnings results on Thursday, February 8th. The textile maker reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.08. Skechers USA had a net margin of 4.30% and a return on equity of 14.63%. The company had revenue of $970.59 million during the quarter, compared to the consensus estimate of $881.39 million. During the same quarter in the prior year, the firm posted $0.04 EPS. Skechers USA’s quarterly revenue was up 27.0% compared to the same quarter last year.

Several other research analysts also recently commented on SKX. Wedbush raised shares of Skechers USA from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $24.03 to $35.00 in a report on Friday, October 20th. Monness Crespi & Hardt increased their price objective on shares of Skechers USA from $33.00 to $34.00 and gave the company a “buy” rating in a report on Friday, October 20th. Morgan Stanley increased their price objective on shares of Skechers USA from $28.50 to $31.00 and gave the company an “equal weight” rating in a report on Friday, October 20th. Citigroup reissued a “positive” rating and set a $38.00 price objective (up previously from $34.00) on shares of Skechers USA in a report on Friday, October 20th. Finally, Wells Fargo & Co increased their price objective on shares of Skechers USA from $33.00 to $36.00 and gave the company a “market perform” rating in a report on Friday, October 20th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $41.34.

Skechers USA (NYSE SKX) opened at $40.15 on Monday. Skechers USA has a 1-year low of $22.64 and a 1-year high of $42.73. The company has a market cap of $6,340.00, a PE ratio of 34.91, a price-to-earnings-growth ratio of 1.29 and a beta of 0.20. The company has a current ratio of 3.52, a quick ratio of 2.06 and a debt-to-equity ratio of 0.04.

Several large investors have recently made changes to their positions in SKX. PNC Financial Services Group Inc. raised its position in Skechers USA by 6.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 5,428 shares of the textile maker’s stock worth $161,000 after purchasing an additional 335 shares during the period. Ameritas Investment Partners Inc. raised its position in Skechers USA by 1.5% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 40,036 shares of the textile maker’s stock worth $1,181,000 after purchasing an additional 602 shares during the period. Amalgamated Bank raised its position in Skechers USA by 5.8% in the 4th quarter. Amalgamated Bank now owns 26,981 shares of the textile maker’s stock worth $1,021,000 after purchasing an additional 1,473 shares during the period. Oakbrook Investments LLC raised its position in Skechers USA by 17.2% in the 4th quarter. Oakbrook Investments LLC now owns 11,730 shares of the textile maker’s stock worth $444,000 after purchasing an additional 1,720 shares during the period. Finally, Crossmark Global Holdings Inc. raised its position in Skechers USA by 9.8% in the 4th quarter. Crossmark Global Holdings Inc. now owns 21,143 shares of the textile maker’s stock worth $800,000 after purchasing an additional 1,887 shares during the period. 68.59% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Richard Rappaport sold 1,000 shares of the 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 transaction, the director now owns 19,000 shares of the company’s stock, valued at approximately $726,560. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Morton D. Erlich sold 4,000 shares of the stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $33.66, for a total transaction of $134,640.00. Following the completion of the transaction, the director now directly owns 12,000 shares of the company’s stock, valued at approximately $403,920. The disclosure for this sale can be found here. In the last ninety days, insiders sold 580,750 shares of company stock valued at $21,665,988. 38.20% of the stock is owned by insiders.

Skechers USA announced that its board has authorized a share buyback program on Thursday, February 8th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the textile maker to purchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

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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.

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