You Should Know These Things About Skechers U.S.A. Inc. (SKX)

At the last check on Thursday, Skechers U.S.A. Inc.’s (NYSE:SKX) stock was up $0.62, moving up 1.72 percent to $36.64. The average number of shares traded per day over the past five days has been 1,110,673 shares. 3 times new highs have been achieved over the past 5 days, with a -$1.09 fall in that time frame. In the last twenty days, the average volume was 1,214,278, while in the previous 50 days, it was 1,292,163.

Since last month, SKX stock retreated -0.30%. Shares of the company fell to $34.04 on 05/24/22, the lowest level in the past month. A 52-week high of $55.87 was reached on 02/10/22 after having rallying from a 52-week low of $33.50. Since the beginning of this year, SKX’s stock price has dropped by -17.00% or -$6.57, and marked a new high 4 times. However, the stock has declined by -34.42% since its 52-week high.

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Skechers U.S.A. Inc. (SKX) last reported insider trading activity 22 days ago on Jun 01. BLAIR KATHERINE J., the Director of the company, disposed of 1,000 shares for $39.70 on Jun 01. It resulted in a $39,700 divestment by the insider. BLAIR KATHERINE J. sold 1,000 shares at an average price of $39.25 on May 27. The insider now owns 9,500 shares following the transaction. On Mar 07, President GREENBERG MICHAEL bought 28,000 shares at $35.20 apiece. The transaction was valued at $985,664.

Valuation Metrics

Right now, Skechers U.S.A. Inc. (SKX) has a P/E ratio of about 7.42. The stock’s beta is 1.29. Besides these, the trailing price-to-sales (P/S) ratio of 0.82, the price-to-book (PB) ratio of 1.67.

Financial Health

In the three months ended March 30, Skechers U.S.A. Inc.’s quick ratio stood at 1.40, while its current ratio was 2.40, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending March 30 was 0.08, and the total debt-to-equity ratio was 0.11. On the profitability front, the trailing twelve-month gross margin is 48.60% percent. In the year ended March 30, operating margins totaled 9.20%. Based on annual data, SKX earned $3.1 billion in gross profit and brought in $6.29 billion in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 23.40%. Return on equity (ROE) for the past 12 months was 25.00%.

In Skechers U.S.A. Inc.’s quarter-end financial report for March 30, it reported total debt of $265.31 million against cash and short-term investments of $104.93 million. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. SKX’s revenue rose 21.5% to $1.65 billion during the quarter, while net income inched up to $1.82 billion. While analysts expected Skechers U.S.A. Inc. to report $0.72 quarterly earnings, the actual figure was $0.77 per share, beating the consensus estimate by 6.90%. During the quarter, the company generated $212.42 million in EBITDA. The liabilities of Skechers U.S.A. Inc. were 2.88 billion at the end of its most recent quarter ended March 30, and its total debt was $1.66 billion. The value of shareholders’ equity is $155.77 million.

Technical Picture

This quick technical analysis looks at Skechers U.S.A. Inc.’s (SKX) price momentum. With a historical volatility rate of 59.32%, the RSI 9-day stood at 44.11% on 22 June.

With respect to its five-day moving average, the current Skechers U.S.A. Inc. price is down by -2.87% percent or -$1.09. At present, SKX shares trade +6.20% above its 20-day simple moving average and -10.87% percent below its 100-day simple moving average. However, the stock is currently trading approximately -2.72% below its SMA50 and -22.14% below its SMA200.

Stochastic coefficient K was 19.06% and Stochastic coefficient D was 18.68%, while ATR was 1.55. Given the Stochastic reading of 23.08% for the 14-day period, the RSI (14) reading has been calculated as 45.33%. As of today, the MACD Oscillator reading stands at -0.43, while the 14-day reading stands at -2.09.

Analyst Ratings

Argus upgraded its rating on Skechers U.S.A. Inc. (NYSE: SKX) to a Buy in a note to investors on June 15, 2022. The analysts firm previously had a Hold rating on the stock.Skechers U.S.A. Inc. (SKX) has been rated Buy by analysts. According to 0 brokerage firms, SKX is a sell, and 3 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Skechers U.S.A. Inc. stock as buy, with 12 recommending it as overweight.

With a median target price of $62.00, the current consensus forecast for the stock is $40.00 – $71.00. Based on these forecasts, analysts predict Skechers U.S.A. Inc. (SKX) will achieve an average price target of $59.25.


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