Skechers U S A Inc. (NYSE:SKX) traded with an addition of $1.35 to close at $49.21on Friday, an upside of 2.82 percent. An average of 1,442,877 shares of common stock have been traded in the last five days. There was a gain of $1.47 in the past week, and it reached a new high 36 times over the past 12 months. The last 20 days have seen an average of 1,904,559 shares traded, while the 50-day average volume stands at 1,901,652.
SKX stock has decreased by -1.76% in the last month. The company shares reached their 1-month lowest point of $46.00 on 09/13/23. 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 17.31% or $7.17 in price. In spite of this, the price is down -12.95% 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 144 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 16.23, which compares with the N/A for the broader industry. The stock’s beta is 1.33. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 0.98, the price-to-book (PB) ratio at 1.98, and the price-to-cash flow ratio at 24.11.
Financial Health
The quick ratio of Skechers U S A Inc. for the three months ended June 29 was 1.48, and the current ratio was 2.48, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.34 and a total debt to equity ratio of 0.44 for the quarter ending June 29. 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 6.89%.
Earnings Surprise
For the three-month period that ended June 29, Skechers U S A Inc. had $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 28 September was 59.10%, suggesting the stock is Neutral, with historical volatility in this time frame at 20.30%.
As of today, SKX’s price is $47.85 +3.08% or $1.47 from its 5-day moving average. SKX is currently trading -2.37% lower than its 20-day SMA and -6.28% lower than its 100-day SMA. However, the stock’s current price level is -7.76% below the SMA50 and +15.41% above the SMA200.
The stochastic %K and %D were 48.69% and 40.26%, respectively, and the average true range (ATR) was 1.38. With the 14-day stochastic at 67.53% and the average true range at 1.37, the RSI (14) stands at 51.91%. The stock has reached 0.22 on the 9-day MACD Oscillator while the 14-day reading was at 0.29.
Analyst Ratings
Piper Sandler upgraded Skechers U S A Inc. (NYSE: SKX) to a an Overweight rating in its most recent analyst report. Previously, the stock was rated as a Neutral. 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 3 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 10 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 $49.00 and $75.00, with a median target of $61.20. Taking a look at these predictions, the average price target given by analysts for Skechers U S A Inc. (SKX) stock is $62.12.
