Skechers USA (SKX) Received its Third Buy in a Row


After B.Riley FBR and Wells Fargo gave Skechers USA (NYSE: SKX) a Buy rating last month, the company received another Buy, this time from Susquehanna. Analyst Sam Poser reiterated a Buy rating on Skechers USA yesterday and set a price target of $32.00. The company’s shares closed last Thursday at $24.73.

According to TipRanks.com, Poser has 0 stars on 0-5 star ranking scale with an average return of -6.7% and a 43.2% success rate. Poser covers the Consumer Goods sector, focusing on stocks such as Dick’s Sporting Goods, Canada Goose Holdings, and Wolverine World Wide.

Currently, the analyst consensus on Skechers USA is a Strong Buy with an average price target of $38.00, representing a 51.3% upside. 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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Based on Skechers USA’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.33 billion and net profit of $59.53 million. In comparison, last year the company earned revenue of $1.08 billion and had a net profit of $47.38 million.

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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.

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