After Wells Fargo and Susquehanna gave Skechers USA (NYSE: SKX) a Buy rating last month, the company received another Buy, this time from B.Riley FBR. Analyst Susan Anderson maintained a Buy rating on Skechers USA today and set a price target of $37.00. The company’s shares closed last Thursday at $24.73.
According to TipRanks.com, Anderson has currently no stars on a ranking scale of 0-5 stars, with an average return of -12.6% and a 30.6% success rate. Anderson covers the Consumer Goods sector, focusing on stocks such as Turning Point Brands, G-III Apparel Group, and Lululemon Athletica.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Skechers USA with a $38.00 average price target, a 51.3% upside from current levels. In a report issued on April 15, UBS also maintained a Buy rating on the stock with a $32.00 price target.
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Skechers USA’s market cap is currently $3.9B and has a P/E ratio of 11.10. The company has a Price to Book ratio of 1.70.
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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.
