B.Riley FBR analyst Susan Anderson maintained a Buy rating on Skechers USA (SKX) on July 22 and set a price target of $37.00. The company’s shares closed last Tuesday at $29.43.
According to TipRanks.com, Anderson has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -4.4% and a 38.3% success rate. Anderson covers the Consumer Goods sector, focusing on stocks such as Wolverine World Wide, Turning Point Brands, and G-III Apparel Group.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Skechers USA with a $38.63 average price target, a 31.7% upside from current levels. In a report issued on July 7, Wedbush also maintained a Buy rating on the stock with a $34.00 price target.
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The company has a one-year high of $44.50 and a one-year low of $17.06. Currently, Skechers USA has an average volume of 1.99M.
Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SKX in relation to earlier this year. Most recently, in May 2020, Michael Greenberg, the President of SKX sold 45,000 shares for a total of $1,178,550.
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SKECHERS USA, Inc. engages in designing, development and marketing of lifestyle footwear for men, women, and children of all ages. It operates through the following segments: Domestic Wholesale Sales, International Wholesale Sales, and Retail Sales. The Domestic Wholesale Sales segment distributes footwear through the domestic wholesale distribution channels: department stores, specialty stores, athletic specialty shoe stores and independent retailers, as well as catalog and internet retailers. The International Wholesale Sales segment includes international direct subsidiary sales and international distributor sales. The Retail Sales segment refers to e-commerce which operates through the concept stores, factory outlet stores, and warehouse outlet stores. The company was founded by Robert Greenberg and Michael Greenberg in 1992 and is headquartered in Manhattan Beach, CA.
