Market Analysts see Skechers U.S.A. Inc. [SKX] gaining to $56. Time to buy?

Skechers U.S.A. Inc. [NYSE: SKX] loss -1.55% or -0.77 points to close at $49.04 with a heavy trading volume of 1431123 shares. The company report on July 8, 2021 that Skechers Partners With “Ryan’s World” on Kids’ Footwear Collection.

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Skechers x Ryan’s World is First Major Collaboration Between a Global Shoe Brand and Kid YouTube Star.

Skechers, the comfort technology company and an award-winning leader in kids’ footwear, is launching the new Skechers x Ryan’s World collaboration. Ryan Kaji, nine-year-old star of the global “Ryan’s World” franchise, whose YouTube channel boasts over 30 million subscribers, worked with the Skechers Kids design team on the colorful collection launching —marking the first time a major shoe brand has offered a kid YouTube star a global footwear deal. Skechers developed the collaboration with pocket.watch and the Kaji family’s Sunlight Entertainment.

It opened the trading session at $49.54, the shares rose to $49.86 and dropped to $48.57, the range by which the price of stock traded the whole day. The daily chart for SKX points out that the company has recorded 30.70% gains over the past six months. However, it is still -78.2% lower than its most recent low trading price.

If we look at the average trading volume of 1.49M shares, SKX reached to a volume of 1431123 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 $56.63 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 2.10. 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.

Morgan Stanley have made an estimate for Skechers U.S.A. Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on April 23, 2021. The new note on the price target was released on April 19, 2021, representing the official price target for Skechers U.S.A. Inc. stock. Previously, the target price had yet another raise to $35, while Susquehanna analysts kept a Neutral rating on SKX stock.

The Average True Range (ATR) for Skechers U.S.A. Inc. is set at 1.45, with the Price to Sales ratio for SKX stock in the period of the last 12 months amounting to 1.56. The Price to Book ratio for the last quarter was 2.95, with the Price to Cash per share for the same quarter was set at 9.13. Price to Free Cash Flow for SKX in the course of the last twelve months was 55.98 with Quick ratio for the last quarter at 1.90.

Trading performance analysis for SKX stock

Skechers U.S.A. Inc. [SKX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.03. With this latest performance, SKX shares dropped by -1.84% in over the last four-week period, additionally plugging by 30.70% over the last 6 months – not to mention a rise of 71.11% 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 50.89, with the RSI for the last a single of trading hit 48.51, and the three-weeks RSI is set at 52.34 for Skechers U.S.A. Inc. [SKX]. The present Moving Average for the last 50 days of trading for this stock 48.37, while it was recorded at 49.18 for the last single week of trading, and 39.84 for the last 200 days.

Skechers U.S.A. Inc. [SKX]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Skechers U.S.A. Inc. [SKX] shares currently have an operating margin of +2.96 and a Gross Margin at +44.52. Skechers U.S.A. Inc.’s Net Margin is presently recorded at +2.14.

Return on Total Capital for SKX is now 3.03, given the latest momentum, and Return on Invested Capital for the company is 2.61. Return on Equity for this stock inclined to 4.11, with Return on Assets sitting at 1.84. When it comes to the capital structure of this company, Skechers U.S.A. Inc. [SKX] has a Total Debt to Total Equity ratio set at 89.24. Additionally, SKX Total Debt to Total Capital is recorded at 47.16, with Total Debt to Total Assets ending up at 38.10. Long-Term Debt to Equity for the company is recorded at 70.30, with the Long-Term Debt to Total Capital now at 37.15.

Reflecting on the efficiency of the workforce at the company, Skechers U.S.A. Inc. [SKX] managed to generate an average of $8,424 per employee. Receivables Turnover for the company is 6.62 with a Total Asset Turnover recorded at a value of 0.86.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

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 67.18%.

An analysis of insider ownership at Skechers U.S.A. Inc. [SKX]

There are presently around $6,288 million, or 97.20% of SKX stock, in the hands of institutional investors. The top three institutional holders of SKX stocks are: FMR LLC with ownership of 20,509,497, which is approximately 0.845% of the company’s market cap and around 0.90% of the total institutional ownership; BLACKROCK INC., holding 13,457,498 shares of the stock with an approximate value of $659.96 million in SKX stocks shares; and VANGUARD GROUP INC, currently with $609.1 million in SKX stock with ownership of nearly 2.548% of the company’s market capitalization.

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Positions in Skechers U.S.A. Inc. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 157 institutional holders increased their position in Skechers U.S.A. Inc. [NYSE:SKX] by around 15,659,268 shares. Additionally, 142 investors decreased positions by around 10,446,753 shares, while 37 investors held positions by with 102,119,512 shares. The mentioned changes placed institutional holdings at 128,225,533 shares, according to the latest SEC report filing. SKX stock had 48 new institutional investments in for a total of 8,147,222 shares, while 41 institutional investors sold positions of 1,005,634 shares during the same period.

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