Opinion

What Wall Street is saying about Skechers U.S.A., Inc. (NYSE:SKX)

Skechers U.S.A., Inc. (NYSE:SKX) stock is presently standing at about $26.46 and lots of equity research firms seem to have a target price set on the stock. The median one-year price target of 9 analysts covering the company is $28.00, which suggests the stock could still rise over 5 percent. The highest analyst price target is $31.00, which implies a rally of 83 percent. And a quick view of analyst notes show that 2 are rating the stock a buy while 3 rate SKX a strong buy. There are 6 equity research firms advocating a Hold and 0 consider it Sell.

Monness Crespi & Hardt analysts provided their view on Skechers U.S.A., Inc. (NYSE:SKX) recently. The rating firm issued a Buy rating to this company in a research note released on Dec 23, 2016. Wells Fargo analysts disclosed their opinion on Skechers U.S.A., Inc. (NYSE:SKX) recently. The rating firm gave a Outperform rating to this stock in a research note published on Dec 06, 2016. According to a research note disclosed on Dec 01, 2016, analysts at Buckingham Research have upped their rating on these shares from Neutral to Buy.

Skechers U.S.A., Inc. (NYSE:SKX) Transactions Roundup

Several insiders were part of recent insider activity for the stock. Its General Counsel & Secretary PACCIONE PHILLIP sold 18,794 company shares for 487140, in a transaction on 2017-03-02. Following the transaction, the General Counsel & Secretary is left with a stake of 60,000 shares, currently valued at $1587600. Meanwhile, COO WEINBERG DAVID sold 24,188 shares worth $626950, through a transaction dated 2017-03-02. Following the completion of the transaction, the insider is left with a stake of 183,283 shares, amounting $4849668.18. SKX Director RAPPAPORT RICHARD also sold 1,000 shares, at a stock price of $24.45. This transaction occurred on 2016-12-23 totals $24450. After this transaction, the insider’s stake stands at 29,000 shares, with a market value of $767340.

Executives hold 1.42 percent of the stock. Michael Greenberg is one of the biggest insider owners in Skechers U.S.A., Inc. (NYSE:SKX), according to U.S. Securities and Exchange Commission (SEC) filings. The insider owns 401,679 shares which have current market value of around $10628426.34.Robert Greenberg is another major inside shareholder in the company. The insider owns 277,693 shares as of 0.18%, currently worth $7347756.78. David Weinberg is ranked as third insider holder of the stock. This insider holds 265,000 shares with a market value around $7011900 as of recent close.

Skechers U.S.A., Inc. (NYSE:SKX) Earnings Outlook

In Skechers U.S.A., Inc. (NYSE:SKX)’s latest quarter, EPS moved to $0.04 from $0.42 in preceding quarter and revenues reached at $764.29M compared to $942.42M. Analysts had expected Skechers U.S.A., Inc. (NYSE:SKX) to post net income of about $0.10 per share on $723.72M in revenue. Looking ahead, analysts on average predict that earnings for the current quarter would come in in the range of $0.50 to $0.57. That is compared with the $0.63 in EPS it reported during the same period a year ago.

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