Raymond James lifts Skechers U.S.A. Inc. [SKX] price estimate. Who else is bullish?

Skechers U.S.A. Inc. [NYSE: SKX] closed the trading session at $33.83 on 10/20/22. The day’s price range saw the stock hit a low of $33.705, while the highest price level was $36.47. The company report on October 20, 2022 that 14th Annual Skechers Pier to Pier Friendship Walk Aims to Raise Another $2.5 Million for Kids.

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Multi-Year Presenting Sponsor Kinecta Federal Credit Union will Return with Celebrities Brooke Burke, Sugar Ray Leonard, Amanda Kloots and Dani Bowman to Raise Funds for Children with Varying Abilities, Schools and Scholarships.

The Skechers Pier to Pier Friendship Walk, presented by Kinecta Federal Credit Union, has announced a $2.5 million fundraising goal for a second year in a row—funds that will directly support youth with varying abilities, schools and the Skechers Foundation’s national scholarship program. Supported by Kinecta and more than 100 companies, the annual event will feature live performances, celebrities and athletic icons including Brooke Burke, Sugar Ray Leonard, Amanda Kloots and Dani Bowman, who will join thousands of walkers in support of children.

The stocks have a year to date performance of -22.05 percent and weekly performance of -3.15 percent. The stock has been moved at -17.85 percent over the last six months. The stock has performed -5.74 percent around the most recent 30 days and changed -11.62 percent over the most recent 3-months.

If compared to the average trading volume of 1.47M shares, SKX reached to a volume of 3371717 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 $48.93 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 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.

Raymond James have made an estimate for Skechers U.S.A. Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on October 13, 2022. The new note on the price target was released on June 15, 2022, representing the official price target for Skechers U.S.A. Inc. stock. Previously, the target price had yet another raise from $47 to $54, while Wedbush kept a Outperform rating on SKX stock.

The Average True Range (ATR) for Skechers U.S.A. Inc. is set at 1.39, with the Price to Sales ratio for SKX stock in the period of the last 12 months amounting to 0.77. The Price to Book ratio for the last quarter was 1.54, with the Price to Cash per share for the same quarter was set at 5.47.

SKX stock trade performance evaluation

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 -3.15. With this latest performance, SKX shares dropped by -5.74% in over the last four-week period, additionally sinking by -17.85% over the last 6 months – not to mention a drop of -23.39% 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 43.20, with the RSI for the last a single of trading hit 41.68, and the three-weeks RSI is set at 43.76 for Skechers U.S.A. Inc. [SKX]. The present Moving Average for the last 50 days of trading for this stock 36.56, while it was recorded at 35.12 for the last single week of trading, and 39.11 for the last 200 days.

Skechers U.S.A. Inc. [SKX]: An insightful look at the core 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 1.30 and a Current Ratio set at 2.30.

Skechers U.S.A. Inc. [SKX]: Insider Ownership positions

There are presently around $4,351 million, or 98.30% of SKX stock, in the hands of institutional investors. The top three institutional holders of SKX stocks are: FMR LLC with ownership of 20,232,235, which is approximately -0.179% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 12,341,749 shares of the stock with an approximate value of $417.52 million in SKX stocks shares; and BLACKROCK INC., currently with $371.91 million in SKX stock with ownership of nearly -2.845% of the company’s market capitalization.

Positions in Skechers U.S.A. Inc. stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 141 institutional holders increased their position in Skechers U.S.A. Inc. [NYSE:SKX] by around 8,001,985 shares. Additionally, 146 investors decreased positions by around 6,960,156 shares, while 55 investors held positions by with 113,659,952 shares. The mentioned changes placed institutional holdings at 128,622,093 shares, according to the latest SEC report filing. SKX stock had 36 new institutional investments in for a total of 3,543,542 shares, while 41 institutional investors sold positions of 907,694 shares during the same period.


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