Skechers U.S.A. (NYSE:SKX – Get Free Report) announced its quarterly earnings data on Thursday. The textile maker reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.46, Briefing.com reports. Skechers U.S.A. had a net margin of 5.41% and a return on equity of 10.72%. The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter last year, the firm posted $0.58 EPS. The company’s quarterly revenue was up 7.7% on a year-over-year basis.
Skechers U.S.A. Price Performance
Shares of Skechers U.S.A. stock traded up $5.00 during midday trading on Friday, hitting $56.11. 6,142,852 shares of the company traded hands, compared to its average volume of 1,848,086. The stock has a market cap of $8.68 billion, a price-to-earnings ratio of 20.90 and a beta of 1.30. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.43 and a current ratio of 2.41. The firm’s fifty day moving average price is $52.06 and its 200-day moving average price is $48.95. Skechers U.S.A. has a 12 month low of $31.28 and a 12 month high of $56.29.
Insiders Place Their Bets
In other Skechers U.S.A. news, Director Katherine J. Blair sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $52.70, for a total transaction of $184,450.00. Following the sale, the director now directly owns 7,000 shares of the company’s stock, valued at approximately $368,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Skechers U.S.A. news, Director Katherine J. Blair sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $52.70, for a total transaction of $184,450.00. Following the sale, the director now directly owns 7,000 shares of the company’s stock, valued at approximately $368,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard Siskind sold 20,000 shares of the company’s stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $53.68, for a total transaction of $1,073,600.00. Following the completion of the sale, the director now directly owns 152,999 shares in the company, valued at $8,212,986.32. The disclosure for this sale can be found here. Insiders own 24.79% of the company’s stock.
Institutional Investors Weigh In On Skechers U.S.A.
A number of institutional investors have recently modified their holdings of SKX. Advisors Asset Management Inc. bought a new stake in shares of Skechers U.S.A. in the 1st quarter valued at $25,000. Fred Alger Management LLC bought a new stake in shares of Skechers U.S.A. in the 1st quarter valued at $26,000. Belpointe Asset Management LLC boosted its stake in shares of Skechers U.S.A. by 100.7% in the 1st quarter. Belpointe Asset Management LLC now owns 913 shares of the textile maker’s stock valued at $43,000 after purchasing an additional 458 shares during the last quarter. Covestor Ltd lifted its position in shares of Skechers U.S.A. by 88.9% during the 1st quarter. Covestor Ltd now owns 1,360 shares of the textile maker’s stock valued at $55,000 after acquiring an additional 640 shares during the period. Finally, Compass Wealth Management LLC acquired a new position in shares of Skechers U.S.A. during the 4th quarter valued at $72,000. 80.21% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
SKX has been the subject of a number of research reports. Morgan Stanley raised their target price on shares of Skechers U.S.A. from $46.00 to $48.00 in a research note on Friday, April 28th. TD Cowen raised their target price on shares of Skechers U.S.A. from $65.00 to $67.00 and gave the stock an “outperform” rating in a research note on Friday. Piper Sandler raised their target price on shares of Skechers U.S.A. from $52.00 to $54.00 in a research note on Friday. Wedbush lifted their price objective on shares of Skechers U.S.A. from $58.00 to $59.00 in a research note on Friday. Finally, Stifel Nicolaus lifted their price objective on shares of Skechers U.S.A. from $59.00 to $62.00 and gave the stock a “buy” rating in a research note on Friday. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Skechers U.S.A. currently has an average rating of “Moderate Buy” and an average price target of $58.83.
About Skechers U.S.A.
Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children worldwide. The company operates through two segments, Wholesale and Direct-to-Consumer. It offers casual, casual athletic, sport athletic, trail, sandals, boots, and retro fashion footwear for men and women under the Skechers USA, Skechers Sport, Skechers Active, Modern Comfort, Skechers Street, Foamies, Mark Nason, and BOBS brands; sneakers, casuals, boots, and sandals for boys and girls under the S-Lights, Skech-Air, Foamies, Twinkle Toes, Skechers Stretch Fit, and Skechers Street brands; and technical footwear under the Skechers GOrun, Skechers GOwalk, Skechers GOtrain, Skechers GOtrail, and Skechers GO Golf brands, as well as Skechers Viper Court for pickleball.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Skechers U.S.A., you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Skechers U.S.A. wasn’t on the list.
While Skechers U.S.A. currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
Wondering when you’ll finally be able to invest in SpaceX, StarLink or The Boring Company? Click the link below to learn when Elon Musk will let these companies finally IPO.
