Skechers U.S.A. Inc. (NYSE:SKX) finished Thursday with an addition of $0.67 to close at $54.67, an upside of 1.24 percent. An average of 1,601,240 shares of common stock have been traded in the last five days. There was a gain of $0.19 in the past week, and it reached a new high 27 times over the past 12 months. The last 20 days have seen an average of 2,114,800 shares traded, while the 50-day average volume stands at 1,890,456.
SKX stock has increased by 4.69% in the last month. The company shares reached their 1-month lowest point of $50.78 on 07/27/23. With the stock rallying to its 52-week high on 07/31/23, shares of the company touched a low of $31.28 and a high of $56.53 in 52 weeks. It has reached a new high 24 times so far this year and achieved 30.32% or $12.72 in price. In spite of this, the price is down -3.29% from the 52-week high.
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Insider Transactions
SKX stock investors should be aware that Skechers U.S.A. Inc. (SKX) stock had its last reported insider trading activity 95 days ago on May 08. In this transaction, the insider spent $184,450. Director, SISKIND RICHARD, disposed of 20,000 shares at a price of $53.68 on May 03. The insider now owns more than $1,073,504 worth of shares. Prior to that, Executive Vice President NASON MARK A went on to Sale 1,093 shares at $45.12 each on Mar 06. An amount of $49,314 was transacted.
Valuation Metrics
Skechers U.S.A. Inc. (SKX) has a trailing price-to-earnings (P/E) ratio of 18.03. The stock’s beta is 1.32. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.09, the price-to-book (PB) ratio at 2.28.
Financial Health
The quick ratio of Skechers U.S.A. Inc. for the three months ended June 29 was 1.40, and the current ratio was 2.40, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.06 and a total debt to equity ratio of 0.10 for the quarter ending June 29. Skechers U.S.A. Inc.’s EBITDA margin for the year ending June 29 is 9.41%, while its operating margin for the same period stands at 7.00%. Its gross profit as reported stood at $3.52 billion compared to revenue of $7.44 billion.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Skechers U.S.A. Inc.’s return on assets was 5.50%.
Earnings Surprise
For the three-month period that ended June 29, Skechers U.S.A. Inc. had $80.65 million in cash and short-term investments compared to $236.76 million in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $152.76 million in the quarter, while revenues were grew 40.82%. The analyst consensus anticipated Skechers U.S.A. Inc.’s latest quarter earnings to come in at $0.54 per share, but it turned out to be $0.98, a 81.50% surprise. For the quarter, EBITDA amounted to $261.7 million. Shareholders own equity worth $154.75 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Skechers U.S.A. Inc. (SKX) price momentum. RSI 9-day as of the close on 10 August was 55.66%, suggesting the stock is Neutral, with historical volatility in this time frame at 17.65%.
As of today, SKX’s price is $54.38 +0.35% or $0.19 from its 5-day moving average. SKX is currently trading +4.09% higher than its 20-day SMA and +23.02% higher than its 100-day SMA. However, the stock’s current price level is +6.24% above the SMA50 and +56.65% above the SMA200.
The stochastic %K and %D were 64.21% and 63.07%, respectively, and the average true range (ATR) was 1.60. With the 14-day stochastic at 67.63% and the average true range at 1.57, the RSI (14) stands at 55.35%. The stock has reached -0.16 on the 9-day MACD Oscillator while the 14-day reading was at 0.39.
Analyst Ratings
UBS reiterated its a Buy rating on Skechers U.S.A. Inc. (NYSE: SKX), but raised their price target to $63, indicating a potential price increase of 13.22% for the stock. The consensus rating for Skechers U.S.A. Inc. (SKX) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell SKX, while 4 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 9 others rate it as a “buy”.
What is SKX’s price target for the next 12 months?
Analysts predict a range of price targets between $48.00 and $75.00, with a median target of $61.00. Taking a look at these predictions, the average price target given by analysts for Skechers U.S.A. Inc. (SKX) stock is $61.51.
