Skechers U.S.A., Inc. (NYSE:SKX – Get Free Report) was the recipient of some unusual options trading activity on Friday. Traders bought 3,832 call options on the company. This represents an increase of approximately 44% compared to the typical daily volume of 2,655 call options.
Wall Street Analyst Weigh In
A number of equities research analysts have recently commented on SKX shares. StockNews.com started coverage on shares of Skechers U.S.A. in a report on Thursday, August 17th. They set a “buy” rating on the stock. UBS Group increased their price target on shares of Skechers U.S.A. from $63.00 to $68.00 and gave the company a “buy” rating in a report on Friday, July 28th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Skechers U.S.A. from $57.00 to $62.00 and gave the company a “buy” rating in a report on Friday, July 28th. Morgan Stanley increased their price target on shares of Skechers U.S.A. from $48.00 to $49.00 and gave the company an “equal weight” rating in a report on Tuesday, August 29th. Finally, Stifel Nicolaus raised their target price on shares of Skechers U.S.A. from $59.00 to $62.00 and gave the stock a “buy” rating in a report on Friday, July 28th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Skechers U.S.A. has an average rating of “Moderate Buy” and a consensus price target of $59.33.
Hedge Funds Weigh In On Skechers U.S.A.
Several institutional investors have recently bought and sold shares of SKX. American Century Companies Inc. grew its stake in Skechers U.S.A. by 10.8% during the first quarter. American Century Companies Inc. now owns 16,901 shares of the textile maker’s stock valued at $689,000 after acquiring an additional 1,654 shares in the last quarter. US Bancorp DE grew its stake in shares of Skechers U.S.A. by 71.1% in the 1st quarter. US Bancorp DE now owns 2,416 shares of the textile maker’s stock worth $98,000 after buying an additional 1,004 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Skechers U.S.A. by 11.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,413 shares of the textile maker’s stock worth $260,000 after buying an additional 663 shares in the last quarter. Bank of Montreal Can grew its stake in shares of Skechers U.S.A. by 8.6% in the 1st quarter. Bank of Montreal Can now owns 12,534 shares of the textile maker’s stock worth $519,000 after buying an additional 990 shares in the last quarter. Finally, MetLife Investment Management LLC grew its stake in shares of Skechers U.S.A. by 34.4% in the 1st quarter. MetLife Investment Management LLC now owns 87,839 shares of the textile maker’s stock worth $3,580,000 after buying an additional 22,464 shares in the last quarter. 80.54% of the stock is owned by hedge funds and other institutional investors.
Skechers U.S.A. Stock Up 2.3 %
Shares of SKX stock opened at $48.95 on Friday. The company has a market capitalization of $7.58 billion, a price-to-earnings ratio of 16.16, a PEG ratio of 0.49 and a beta of 1.33. Skechers U.S.A. has a one year low of $31.28 and a one year high of $56.53. The company’s fifty day moving average price is $50.70 and its 200-day moving average price is $50.54. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.48 and a quick ratio of 1.48.
Skechers U.S.A. (NYSE:SKX – Get Free Report) last announced its quarterly earnings data on Thursday, July 27th. The textile maker reported $0.98 EPS for the quarter, beating the consensus estimate of $0.52 by $0.46. The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.92 billion. Skechers U.S.A. had a net margin of 6.11% and a return on equity of 11.97%. The company’s revenue was up 7.7% on a year-over-year basis. During the same period last year, the firm earned $0.58 EPS. Sell-side analysts expect that Skechers U.S.A. will post 3.39 EPS for the current fiscal year.
Skechers U.S.A. Company Profile
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.
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