Susquehanna Reiterates Their Buy Rating on Skechers USA

By Carrie Williams

Susquehanna analyst Sam Poser reiterated a Buy rating on Skechers USA (NYSE: SKX) today and set a price target of $32. The company’s shares closed last Friday at $26.41.

According to TipRanks.com, Poser is a 4-star analyst with an average return of 8.1% and a 55.3% success rate. Poser covers the Consumer Goods sector, focusing on stocks such as Wolverine World Wide, Deckers Outdoor, and Foot Locker Inc.

Currently, the analyst consensus on Skechers USA is Moderate Buy and the average price target is $30, representing a 13.6% upside.

In a report issued on June 1, Citigroup also upgraded the stock to Buy.

Based on Skechers USA’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $1.07 billion and quarterly net profit of $94 million. In comparison, last year the company earned revenue of $979 million and had a net profit of $97.61 million.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

SKECHERS USA, Inc. engages in design, development and marketing of lifestyle footwear that appeals to men, women and children of all ages. It operates its business through three 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 products are sold throughout the world. Its product offering, diversified domestic and international distribution channels, and targeted multi-channel marketing. The company has two distinct footwear categories: a lifestyle division that includes the charity line BOBS from SKECHERS, and a fitness division that now includes SKECHERS GOrun, SKECHERS GOwalk, and SKECHERS GOplay performance footwear. The company was founded by Robert Greenberg in 1992 and is headquartered in Manhattan Beach, CA.