Skechers U S A, Inc. [NYSE: SKX] loss -0.56% or -0.33 points to close at $58.82 with a heavy trading volume of 2556311 shares.
The daily chart for SKX points out that the company has recorded 20.98% gains over the past six months.
If we look at the average trading volume of 1.74M shares, SKX reached to a volume of 2556311 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 $70.49 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 1.62. 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.
Barclays 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 01, 2024. While these analysts kept the previous recommendation, BofA Securities raised their target price to Neutral. The new note on the price target was released on March 08, 2024, representing the official price target for Skechers U S A, Inc. stock. Previously, the target price had yet another raise to $73, while Evercore ISI analysts kept a Outperform rating on SKX stock. On January 18, 2024, analysts increased their price target for SKX shares from 60 to 72.
The Average True Range (ATR) for Skechers U S A, Inc. is set at 1.41, with the Price to Sales ratio for SKX stock in the period of the last 12 months amounting to 1.13. The Price to Book ratio for the last quarter was 2.24, with the Price to Cash per share for the same quarter was set at 8.24. Price to Free Cash Flow for SKX in the course of the last twelve months was 9.94 with Quick ratio for the last quarter at 1.46.
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 3.45. With this latest performance, SKX shares dropped by -1.98% in over the last four-week period, additionally plugging by 20.98% over the last 6 months – not to mention a rise of 19.63% 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 51.28, with the RSI for the last a single of trading hit 55.14, and the three-weeks RSI is set at 49.56 for Skechers U S A, Inc. [SKX]. The present Moving Average for the last 50 days of trading for this stock 59.59, while it was recorded at 58.41 for the last single week of trading, and 55.63 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 1.46 and a Current Ratio set at 2.38.
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 15.20%.
An analysis of Institutional ownership at Skechers U S A, Inc. [SKX]
The top three institutional holders of SKX stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in SKX stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in SKX stock with ownership which is approximately 5.8386%.
