Skechers U S A, Inc. [SKX] stock prices are up 1.55% to $62.20 at the moment. An important factor to consider is whether the stock is rising or falling in short-term value. The SKX shares have gain 2.29% over the last week, with a monthly amount glided 4.82%, and seem to be holding up well over a long-time horizon.
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On 6, March 2024, Skechers to Present at the UBS Global Consumer and Retail Conference on March 13th. In a post published today on Yahoo Finance, Skechers U.S.A., Inc. (“Skechers” or the “Company”) (NYSE:SKX), The Comfort Technology Company™ and a global footwear leader, today announced that John Vandemore, Chief Financial Officer, will participate in a fireside chat at the UBS Global Consumer and Retail Conference in New York City on Wednesday, March 13, 2024 at 10:00 a.m. PT / 1:00 p.m. ET.
From an analyst’s perspective:
Skechers U S A, Inc. [NYSE: SKX] stock has seen the most recent analyst activity on March 08, 2024, when BofA Securities initiated its Neutral rating and assigned the stock a price target of $67. Previously, Evercore ISI started tracking the stock with Outperform rating on February 15, 2024, and set its price target to $73. On January 18, 2024, Monness Crespi & Hardt reiterated its Buy rating and revised its price target to $72 on the stock. Piper Sandler upgraded its rating to a Overweight and increased its price target to $59 on September 18, 2023. UBS reiterated its recommendation of a Buy and raised its price target to $68 on July 28, 2023. TD Cowen reiterated a Outperform rating for this stock on July 28, 2023, and upped its price target to $67. In a note dated July 28, 2023, Stifel reiterated an Buy rating on this stock and boosted its target price from $59 to $62.
The stock price of Skechers U S A, Inc. [SKX] has been fluctuating between $41.56 and $65.17 over the past year. Currently, Wall Street analysts expect the stock to reach $53.71 within the next 12 months. Skechers U S A, Inc. [NYSE: SKX] shares were valued at $62.20 at the most recent close of the market. An investor can expect a potential drop of -13.65% based on the average SKX price forecast.
Analyzing the SKX fundamentals
The Skechers U S A, Inc. [NYSE:SKX] reported sales of 8.00B for trailing twelve months, representing a surge of 4.37%. Gross Profit Margin for this corporation currently stands at 0.52% with Operating Profit Margin at 0.1%, Pretax Profit Margin comes in at 0.1%, and Net Profit Margin reading is 0.07%. To continue investigating profitability, this company’s Return on Assets is posted at 0.07, Equity is 0.14 and Total Capital is 0.13. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.22.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 61.49 points at the first support level, and at 60.78 for the second support level. However, for the 1st resistance point, the stock is sitting at 62.62, and for the 2nd resistance point, it is at 63.03.
Skechers U S A, Inc. [SKX] reported earnings per share of $0.56 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.55/share, meaning a difference of $0.01 and a surprise factor of 1.80%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $0.93 per share as compared to estimates of $0.8 per share, a difference of $0.13 representing a surprise of 16.20%.
Ratios To Look Out For
It’s worth pointing out that Skechers U S A, Inc. [NYSE:SKX]’s Current Ratio is 2.38. On the other hand, the Quick Ratio is 1.46, and the Cash Ratio is 0.69. Considering the valuation of this stock, the price to sales ratio is 1.19, the price to book ratio is 2.37 and price to earnings (TTM) ratio is 17.82.
Transactions by insiders
Recent insider trading involved GREENBERG MICHAEL, President, that happened on Mar 11 ’24 when 91500.0 shares were sold. President, GREENBERG MICHAEL completed a deal on Mar 05 ’24 to sell 0.15 million shares. Meanwhile, Chief Executive Officer GREENBERG ROBERT sold 31202.0 shares on Mar 04 ’24.
