The stock of Skechers U.S.A. Inc. (NYSE:SKX) increased by $0.83 on Tuesday to finish at $47.84, up 1.77 percent. The last five days have seen an average of 2,600,760 shares of common stock traded. 24 times new highs were reached in the current year, with a gain of $5.89. The average number of shares traded over the last 20 days was 1,913,590, while the average volume over the last 50 days totaled 1,923,494.
SKX stock dropped -6.03% since last month. On 09/13/23, the company’s shares reached a one-month low of $46.00. The stock touched a high of $56.53 on 07/31/23, after rallying from a low of $31.28 in 52 weeks. The price of SKX stock has risen by 14.04% or $5.89 this year, reaching a new high 24 times. Still, the stock price is down -15.37% from the 52-week high.
Insider Transactions
SKX stock investors should be aware that Skechers U.S.A. Inc. (SKX) stock had its last reported insider trading activity 135 days ago on May 08. On May 08, Director BLAIR KATHERINE J. sold 3,500 shares at $52.70 each. This transaction resulted in the insider making $184,450. On May 03, SISKIND RICHARD sold 20,000 shares at a price of US$53.68. After the transaction, the insider now owns 152,999 shares. Executive Vice President NASON MARK A had earlier sold 1,093 shares on Mar 06 for $45.12 a share. The transaction was completed for $49,314.
Valuation Metrics
Skechers U.S.A. Inc. (SKX) has a trailing price-to-earnings (P/E) ratio of 15.78. Beta for the stock is 1.34. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 0.95, the price-to-book (PB) ratio of 1.93, and the price-to-cash flow ratio of 23.46.
Financial Health
For the three months ended June 29, Skechers U.S.A. Inc.’s quick ratio was 1.50, while its current ratio was 2.50, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.06, and the total debt to equity ratio is 0.09. As far as profitability goes, gross margin for the trailing twelve months is 49.30% percent. Skechers U.S.A. Inc.’s EBITDA margin for the year ended June 29 was 9.41%, whereas its operating margin stood at 8.50% for the same period. Based on annual data, it had gross profit of $3.52 billion and revenue of $7.44 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. SKX’s return on assets (ROA) during the last 12 months has been 6.80%. There was a 11.60% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 13.00%.
Earnings Surprise
According to Skechers U.S.A. Inc.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $2.01 billion, while revenues rose by 7.14% to $2.0 billion. It was predicted that Skechers U.S.A. Inc.’s quarterly earnings would be $0.98, but it ended up being $0.54, beating the consensus by 81.50%. EBITDA was $261.7 million for the quarter. At the end of Skechers U.S.A. Inc.’s most recent quarter ended June 29, its liabilities totaled 2.92 billion, while its total debt was $1.68 billion. Equity owned by shareholders amounts to $154.75 million.
Technical Picture
Here’s a quick look at Skechers U.S.A. Inc.’s (SKX) price momentum from a technical perspective. As of 19 September, the RSI 9-day stood at 39.71%, suggesting the stock is Neutral, with a 24.27% historical volatility rate.
The stochastic %K and %D were 25.04% and 23.72% respectively, while the average true range (ATR) was 1.36. Based on the 14-day stochastic reading of 32.68%, the RSI (14) reading is 39.56%. On the 9-day MACD Oscillator, the stock is at -0.73, and the 14-day reading is at -1.49.
Analyst Ratings
In its most recent analyst report, Piper Sandler raised its rating on Skechers U.S.A. Inc. (NYSE: SKX) to an Overweight. Prior to this, analysts firm rated the stock as a Neutral. Analysts have assigned Skechers U.S.A. Inc. (SKX) an Overweight rating. SKX is a stock that is recommended for selling by 0 brokerage firms, while 3 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 1 rate it overweight and 10 others recommend it as a buy.
What is SKX’s price target for the next 12 months?
The current consensus forecast for the stock is between $49.00 and $75.00, with a median target price of $61.20. In analyzing these forecasts, the average price target given by analysts for Skechers U.S.A. Inc. (SKX) is $62.12.
