Skechers U.S.A. Inc. [NYSE: SKX] stock went on an upward path that rose over 2.10% on Wednesday, amounting to a one-week price decrease of less than -5.75%. The company report on July 26, 2022 that Skechers Announces Record Second Quarter 2022 Sales.
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SKECHERS U.S.A., Inc. (“Skechers” or the “Company”) (NYSE:SKX), The Comfort Technology Company™ and a global footwear leader, today announced financial results for the second quarter ended June 30, 2022.
Over the last 12 months, SKX stock dropped by -31.05%. The one-year Skechers U.S.A. Inc. stock forecast points to a potential upside of 34.9. The average equity rating for SKX stock is currently 2.10, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $5.71 billion, with 156.00 million shares outstanding and 133.44 million shares in the current float. Compared to the average trading volume of 1.35M shares, SKX stock reached a trading volume of 3815620 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $55.93 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.
Argus have made an estimate for Skechers U.S.A. Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 15, 2022. While these analysts kept the previous recommendation, Wedbush raised their target price from $47 to $54. The new note on the price target was released on January 04, 2022, representing the official price target for Skechers U.S.A. Inc. stock.
The Average True Range (ATR) for Skechers U.S.A. Inc. is set at 1.60, with the Price to Sales ratio for SKX stock in the period of the last 12 months amounting to 0.86. The Price to Book ratio for the last quarter was 1.69, with the Price to Cash per share for the same quarter was set at 4.43.
SKX Stock Performance Analysis:
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 -5.75. With this latest performance, SKX shares dropped by -5.53% in over the last four-week period, additionally sinking by -13.88% over the last 6 months – not to mention a drop of -31.05% 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 45.40, with the RSI for the last a single of trading hit 43.15, and the three-weeks RSI is set at 46.39 for Skechers U.S.A. Inc. [SKX]. The present Moving Average for the last 50 days of trading for this stock 37.61, while it was recorded at 37.36 for the last single week of trading, and 41.57 for the last 200 days.
Insight into Skechers U.S.A. Inc. Fundamentals:
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 +9.12 and a Gross Margin at +47.09. Skechers U.S.A. Inc.’s Net Margin is presently recorded at +11.80.
Return on Equity for this stock inclined to 25.83, with Return on Assets sitting at 12.05.
Skechers U.S.A. Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.40 and a Current Ratio set at 2.40.
SKX Stock EPS
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 72.32%.
Skechers U.S.A. Inc. [SKX] Insider Position Details
There are presently around $4,717 million, or 97.80% of SKX stock, in the hands of institutional investors. The top three institutional holders of SKX stocks are: FMR LLC with ownership of 20,268,463, which is approximately 0.163% of the company’s market cap and around 1.10% of the total institutional ownership; VANGUARD GROUP INC, holding 12,240,426 shares of the stock with an approximate value of $445.67 million in SKX stocks shares; and BLACKROCK INC., currently with $411.99 million in SKX stock with ownership of nearly -3.7% of the company’s market capitalization.
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 175 institutional holders increased their position in Skechers U.S.A. Inc. [NYSE:SKX] by around 12,122,211 shares. Additionally, 142 investors decreased positions by around 8,925,316 shares, while 40 investors held positions by with 108,493,908 shares. The mentioned changes placed institutional holdings at 129,541,435 shares, according to the latest SEC report filing. SKX stock had 50 new institutional investments in for a total of 3,849,074 shares, while 44 institutional investors sold positions of 3,061,344 shares during the same period.