As of Wednesday close, Skechers U.S.A. Inc.’s (NYSE:SKX) stock was down -$0.73, moving down -1.39 percent to $51.75. The average number of shares traded per day over the past five days has been 1,793,560 shares. 1 time new highs have been achieved over the past 5 days, with a -$2.25 fall in that time frame. In the last twenty days, the average volume was 2,056,330, while in the previous 50 days, it was 1,895,610.
Since last month, SKX stock retreated -3.99%. Shares of the company fell to $50.78 on 07/27/23, the lowest level in the past month. A 52-week high of $56.53 was reached on 07/31/23 after having rallying from a 52-week low of $31.28. Since the beginning of this year, SKX’s stock price has risen by 23.36% or $9.80, and marked a new high 24 times. However, the stock has declined by -8.46% since its 52-week high.
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SKX stock investors should be aware that Skechers U.S.A. Inc. (SKX) stock had its last reported insider trading activity 101 days ago on May 08. BLAIR KATHERINE J., the Director of the company, disposed of 3,500 shares for $52.70 on May 08. It resulted in a $184,450 divestment by the insider. SISKIND RICHARD sold 20,000 shares at an average price of $53.68 on May 03. The insider now owns 152,999 shares following the transaction. On Mar 06, Executive Vice President NASON MARK A sold 1,093 shares at $45.12 apiece. The transaction was valued at $49,314.
Valuation Metrics
Right now, Skechers U.S.A. Inc. (SKX) has a P/E ratio of about 17.07. The stock’s beta is 1.32. Besides these, the trailing price-to-sales (P/S) ratio of 1.06, the price-to-book (PB) ratio of 2.09, and the price-to-cash flow ratio of 25.98 may also be considered.
Financial Health
In the three months ended June 29, Skechers U.S.A. Inc.’s quick ratio stood at 1.50, while its current ratio was 2.50, 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 June 29 was 0.06, and the total debt-to-equity ratio was 0.09. On the profitability front, the trailing twelve-month gross margin is 49.30% percent. In the year ended June 29, EBITDA margin amounted to 9.41%, whereas operating margins totaled 8.50%. Based on annual data, SKX earned $3.52 billion in gross profit and brought in $7.44 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 11.60%. Return on equity (ROE) for the past 12 months was 13.00%.
In Skechers U.S.A. Inc.’s quarter-end financial report for June 29, it reported total debt of $236.76 million against cash and short-term investments of $80.65 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 7.14% to $2.0 billion during the quarter, while net income inched up to $2.01 billion. While analysts expected Skechers U.S.A. Inc. to report $0.54 quarterly earnings, the actual figure was $0.98 per share, beating the consensus estimate by 81.50%. During the quarter, the company generated $261.7 million in EBITDA. The liabilities of Skechers U.S.A. Inc. were 2.92 billion at the end of its most recent quarter ended June 29, and its total debt was $1.68 billion. The value of shareholders’ equity is $154.75 million.
Technical Picture
This quick technical analysis looks at Skechers U.S.A. Inc.’s (SKX) price momentum. With a historical volatility rate of 17.42%, the RSI 9-day stood at 36.05% on 16 August.
With respect to its five-day moving average, the current Skechers U.S.A. Inc. price is down by -4.17% percent or -$2.25. At present, SKX shares trade -4.63% below its 20-day simple moving average and +16.40% percent above its 100-day simple moving average. However, the stock is currently trading approximately +0.31% above its SMA50 and +58.55% above its SMA200.
Stochastic coefficient K was 23.95% and Stochastic coefficient D was 37.91%, while ATR was 1.42. Given the Stochastic reading of 0.42% for the 14-day period, the RSI (14) reading has been calculated as 42.30%. As of today, the MACD Oscillator reading stands at -1.15, while the 14-day reading stands at -1.71.
Analyst Ratings
UBS reiterated its a Buy rating on Skechers U.S.A. Inc. (NYSE: SKX) in a note to investors. The analysts firm has however raised their price target to $68, representing a possible 17.86% increase in the stock price. Skechers U.S.A. Inc. (SKX) has been rated Overweight by analysts. According to 0 brokerage firms, SKX is a sell, and 4 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 1 analyst rate Skechers U.S.A. Inc. stock as buy, with 9 recommending it as overweight.
With a median target price of $61.20, the current consensus forecast for the stock is $48.00 – $75.00. Based on these forecasts, analysts predict Skechers U.S.A. Inc. (SKX) will achieve an average price target of $61.87.
