Skechers U S A, Inc. [NYSE: SKX] jumped around 1.16 points on Thursday, while shares priced at $63.60 at the close of the session, up 1.86%. The company report on February 1, 2024 at 4:05 PM that Skechers Announces Record Annual Sales of $8.00 Billion for 2023.
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 fourth quarter and full year ended December 31, 2023.
Compared to the average trading volume of 1.57M shares, SKX reached a trading volume of 3246824 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus 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 $72.65 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 1.54. 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.
Monness Crespi & Hardt 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 January 18, 2024.
The Average True Range (ATR) for Skechers U S A, Inc. is set at 1.29, with the Price to Sales ratio for SKX stock in the period of the last 12 months amounting to 1.24. The Price to Book ratio for the last quarter was 2.48, with the Price to Cash per share for the same quarter was set at 7.56. Price to Free Cash Flow for SKX in the course of the last twelve months was 11.31 with Quick ratio for the last quarter at 1.60.
How has SKX stock performed recently?
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 2.75. With this latest performance, SKX shares gained by 2.37% in over the last four-week period, additionally plugging by 17.36% over the last 6 months – not to mention a rise of 32.09% 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 56.24, with the RSI for the last a single of trading hit 55.51, and the three-weeks RSI is set at 57.65 for Skechers U S A, Inc. [SKX]. The present Moving Average for the last 50 days of trading for this stock 61.25, while it was recorded at 63.32 for the last single week of trading, and 53.45 for the last 200 days.
Skechers U S A, Inc. [SKX]: Deeper insight into the fundamentals
Skechers U S A, Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.60 and a Current Ratio set at 2.52.
Earnings analysis for Skechers U S A, Inc. [SKX]
With the latest financial reports released by the company, Skechers U S A, Inc. posted 0.48/share EPS, while the average EPS was predicted by analysts to be reported at 0.36/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 33.30%. 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 27.28%.
Insider trade positions for Skechers U S A, Inc. [SKX]
The top three institutional holders of SKX stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in SKX stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in SKX stock with ownership which is approximately 5.8325%.
