Skechers U.S.A. Inc. (NYSE:SKX) saw a downside of -0.07% to $54.24 after subtracting -$0.04 on Tuesday. The 5-day average trading volume is 1,248,577 shares of the company’s common stock. It has gained $55.46 in the past week and touched a new high 1 time within the past 5 days. An average of 1,998,919 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,859,892.
SKX’s 1-month performance is 4.51% or $2.46 on its low of $50.78 reached on 07/27/23. The company’s shares have touched a 52-week low of $31.28 and high of $56.53, with the stock’s rally to the 52-week high happening on 07/31/23. YTD, SKX has achieved 29.30% or $12.01 and has reached a new high 24 times. However, the current price is down -4.05% from the 52-week high price.
Insider Transactions
SKX stock investors last saw insider trading activity on May 08.BLAIR KATHERINE J. (Director) most recently sold 3,500 shares at $52.70 per share on May 08. This transaction cost the insider $184,450. Director, SISKIND RICHARD, sold 20,000 shares at a price of $53.68 on May 03. Then, on Mar 06, Executive Vice President NASON MARK A sold 1,093 shares at a price of $45.12 per share. This transaction amounted to $49,314.
Valuation Metrics
SKX stock has a beta of 1.32. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.09 while the price-to-book (PB) in the most recent quarter is 2.26.
Skechers U.S.A. Inc.’s quick ratio for the period ended June 29 was 1.40, with the current ratio over the same period at 2.40. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.06, while the total debt to equity was 0.10. In terms of profitability, the gross margin trailing 12 months is 49.30%. The trailing 12-month EBITDA margin is 9.41% while for the period ending June 29, Skechers U.S.A. Inc.’s operating margin was 7.00%. The firm’s gross profit as reported stood at $3.52 billion against revenue of $7.44 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Skechers U.S.A. Inc.’s cash and short-term investments amounted to $80.65 million against total debt of $1.68 billion. Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 40.82% to $152.76 million, while revenue of $160.44 million was -5.03% off the previous quarter. Analysts expected SKX to announce $0.54 per share in earnings in its latest quarter, but it posted $0.98, representing a 81.50% surprise. EBITDA for the quarter stood at more than $261.7 million. SKX stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 2.92 billion, with total debt at $1.68 billion. Shareholders hold equity totaling $154.75 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 07 August was 51.56% to suggest the stock is trending Neutral, with historical volatility in this time period at 54.23%.
The stock’s 5-day moving average is $54.22, reflecting a -2.91% or -$1.62 change from its current price. SKX is currently trading +3.71% above its 20-day SMA, +24.85% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +4.43% and SMA200 by+51.15%.
Stochastic %K and %D was 58.48% and 60.31% and the average true range (ATR) pointed at 1.57. The RSI (14) points at 52.82%, while the 14-day stochastic is at 55.29% with the period’s ATR at 1.54. The stock’s 9-day MACD Oscillator is pointing at -0.24 and 0.36 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Skechers U.S.A. Inc. (NYSE: SKX), UBS reiterated its a Buy rating for the company but lifted their price target by $63 to $68. 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 9 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 $48.00 and a high of $75.00, with their median price target at $61.00. Looking at these predictions, the average price target given by analysts is for Skechers U.S.A. Inc. (SKX) stock is $61.51.
