Skechers U.S.A. Inc. [NYSE: SKX] gained 8.16% on the last trading session, reaching $34.48 price per share at the time. The company report on October 30, 2020 that Skechers Announces Third Quarter 2020 Financial Results.
SKECHERS USA, Inc. (NYSE:SKX), a global footwear leader, announced financial results for the third quarter ended September 30, 2020.
Third Quarter Highlights.
Skechers U.S.A. Inc. represents 154.46 million in outstanding shares, while the company has a total market value of $5.31 billion with the latest information. SKX stock price has been found in the range of $32.78 to $34.69.
If compared to the average trading volume of 1.64M shares, SKX reached a trading volume of 1908089 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Skechers U.S.A. Inc. [SKX]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SKX shares is $40.46 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SKX stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Susquehanna have made an estimate for Skechers U.S.A. Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on November 03, 2020. While these analysts kept the previous recommendation, Berenberg raised their target price to Buy. The new note on the price target was released on October 27, 2020, representing the official price target for Skechers U.S.A. Inc. stock. Previously, the target price had yet another raise from $28 to $34, while Wedbush kept a Outperform rating on SKX stock. On April 13, 2020, analysts decreased their price target for SKX shares from 50 to 40.
The Average True Range (ATR) for Skechers U.S.A. Inc. is set at 1.74, with the Price to Sales ratio for SKX stock in the period of the last 12 months amounting to 1.15. The Price to Book ratio for the last quarter was 2.22, with the Price to Cash per share for the same quarter was set at 9.10.
Trading performance analysis for SKX stock
Skechers U.S.A. Inc. [SKX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.76. With this latest performance, SKX shares gained by 4.17% in over the last four-week period, additionally plugging by 28.80% over the last 6 months – not to mention a drop of -14.80% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SKX stock in for the last two-week period is set at 56.79, with the RSI for the last a single of trading hit 59.61, and the three-weeks RSI is set at 55.60 for Skechers U.S.A. Inc. [SKX]. The present Moving Average for the last 50 days of trading for this stock 32.01, while it was recorded at 32.45 for the last single week of trading, and 30.15 for the last 200 days.
Skechers U.S.A. Inc. [SKX]: A deeper dive into fundamental analysis
Skechers U.S.A. Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.90 and a Current Ratio set at 2.70.
Skechers U.S.A. Inc. [SKX]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Skechers U.S.A. Inc. posted 0.39/share EPS, while the average EPS was predicted by analysts to be reported at 0.39/share. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SKX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Skechers U.S.A. Inc. go to 2.85%.
An analysis of insider ownership at Skechers U.S.A. Inc. [SKX]
There are presently around $4,244 million, or 92.70% of SKX stock, in the hands of institutional investors. The top three institutional holders of SKX stocks are: FMR LLC with ownership of 20,445,346, which is approximately 0.094% of the company’s market cap and around 1.00% of the total institutional ownership; BLACKROCK INC., holding 15,320,835 shares of the stock with an approximate value of $528.26 million in SKX stocks shares; and VANGUARD GROUP INC, currently with $413.01 million in SKX stock with ownership of nearly -3.822% of the company’s market capitalization.
115 institutional holders increased their position in Skechers U.S.A. Inc. [NYSE:SKX] by around 8,921,547 shares. Additionally, 157 investors decreased positions by around 8,211,573 shares, while 50 investors held positions by with 105,957,989 shares. The mentioned changes placed institutional holdings at 123,091,109 shares, according to the latest SEC report filing. SKX stock had 27 new institutional investments in for a total of 1,008,694 shares, while 54 institutional investors sold positions of 2,604,085 shares during the same period.