Skechers U.S.A. Inc. (SKX): What the Financials Tell Us

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Skechers U.S.A. Inc. (NYSE:SKX) saw a downside of -1.81% to $47.61 after subtracting -$0.88 on Wednesday. The 5-day average trading volume is 1,551,926 shares of the company’s common stock. It has gained $49.40 in the past week and touched a new high 3 times within the past 5 days. An average of 1,593,392 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,456,699.

SKX’s 1-month performance is 15.26% or $5.39 on its low of $41.22 reached on 12/30/22. The company’s shares have touched a 52-week low of $31.28 and high of $49.89, with the stock’s rally to the 52-week high happening on 01/23/23. YTD, SKX has achieved 15.59% or $5.44 and has reached a new high 10 times. However, the current price is down -4.57% from the 52-week high price.


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Insider Transactions

SKX stock investors last saw insider trading activity on Jan 03.GREENBERG MICHAEL (President) most recently sold 10,503 shares at $42.29 per share on Jan 03. This transaction cost the insider $444,172. Chief Operating Officer, WEINBERG DAVID, sold 8,403 shares at a price of $42.29 on Jan 03. Then, on Dec 07, General Counsel & Secretary PACCIONE PHILLIP sold 561 shares at a price of $42.93 per share. This transaction amounted to $24,084.

Valuation Metrics

SKX stock has a beta of 1.29. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.03 while the price-to-book (PB) in the most recent quarter is 2.18.

Skechers U.S.A. Inc.’s quick ratio for the period ended September 29 was 1.10, with the current ratio over the same period at 2.30. As well, the company’s long term debt to equity for the quarter ending September 29 was 0.07, while the total debt to equity was 0.11. In terms of profitability, the gross margin trailing 12 months is 47.20%. The firm’s gross profit as reported stood at $3.1 billion against revenue of $6.29 billion.

Earnings Surprise

For the quarterly period ending September 29 this year, Skechers U.S.A. Inc.’s cash and short-term investments amounted to $102.99 million against total debt of $1.61 billion. Net income and sales went up compared to those figures reported in the previous quarter. Net income shrunk -20.08% to $85.89 million, while revenue of $90.4 million was -5.25% off the previous quarter. Analysts expected SKX to announce $0.7 per share in earnings in its latest quarter, but it posted $0.55, representing a -21.40% surprise. EBITDA for the quarter stood at more than $168.63 million. SKX stock balance sheet for the quarter ending September 29 shows that total liabilities totaled 2.93 billion, with total debt at $1.61 billion. Shareholders hold equity totaling $155.1 million.

Let’s look briefly at Skechers U.S.A. Inc. (SKX) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 24 January was 63.97% to suggest the stock is trending Neutral, with historical volatility in this time period at 28.68%.

The stock’s 5-day moving average is $47.43, reflecting a +2.89% or $1.33 change from its current price. SKX is currently trading +12.83% above its 20-day SMA, +25.37% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +25.54% and SMA200 by+23.54%.

Stochastic %K and %D was 83.97% and 88.03% and the average true range (ATR) pointed at 1.26. The RSI (14) points at 65.27%, while the 14-day stochastic is at 72.58% with the period’s ATR at 1.24. The stock’s 9-day MACD Oscillator is pointing at 1.30 and 1.89 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Skechers U.S.A. Inc. (NYSE: SKX), Cowen upgraded it to an Outperform rating. They previously had a Market perform rating on the stock. Analysts offering their rating for SKX stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate SKX as a “sell,”, while 4 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 1 rates the stock as overweight while 10 have offered a “buy” rating.

What is SKX’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $42.00 and a high of $65.00, with their median price target at $50.00. Looking at these predictions, the average price target given by analysts is for Skechers U.S.A. Inc. (SKX) stock is $51.61.

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