Skechers U.S.A. (SKX) to Release Earnings on Thursday

Skechers U.S.A. (NYSE:SKX) will likely be releasing its earnings data after the market closes on Thursday, February 6th. Analysts expect Skechers U.S.A. to post earnings of $0.73 per share and revenue of $2.22 billion for the quarter. Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Skechers U.S.A. Trading Down 3.8 %

SKX opened at $72.51 on Tuesday. Skechers U.S.A. has a 52 week low of $55.67 and a 52 week high of $78.85. The company has a quick ratio of 1.25, a current ratio of 1.96 and a debt-to-equity ratio of 0.01. The business has a fifty day simple moving average of $69.65 and a 200-day simple moving average of $66.20. The firm has a market cap of $10.95 billion, a P/E ratio of 17.86, a P/E/G ratio of 0.92 and a beta of 1.19.

Insider Activity

In related news, President Michael Greenberg sold 10,274 shares of Skechers U.S.A. stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total transaction of $693,289.52. Following the sale, the president now directly owns 149,327 shares in the company, valued at $10,076,585.96. This trade represents a 6.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO David Weinberg sold 8,219 shares of the company’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total transaction of $554,618.12. Following the completion of the transaction, the chief operating officer now owns 122,211 shares of the company’s stock, valued at $8,246,798.28. This represents a 6.30 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 24.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on SKX shares. Evercore ISI lifted their target price on Skechers U.S.A. from $72.00 to $85.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Bank of America cut their target price on shares of Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Needham & Company LLC reissued a “hold” rating on shares of Skechers U.S.A. in a research report on Wednesday, January 29th. TD Cowen upped their price objective on Skechers U.S.A. from $88.00 to $93.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Finally, StockNews.com upgraded Skechers U.S.A. from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.18.

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 Wholesale and Direct-to-Consumer segments. It offers footwear under Skechers Hands Free Slip-ins, Skechers Arch Fit, and Skechers Air-Cooled Memory Foam brands.