Barclays Sticks to Its Buy Rating for Skechers USA (SKX)

Barclays analyst Adrienne Yih maintained a Buy rating on Skechers USA (SKX – Research Report) today and set a price target of $78.00. The company’s shares closed yesterday at $58.82.

According to TipRanks, Yih is a 4-star analyst with an average return of 6.1% and a 49.09% success rate. Yih covers the Consumer Cyclical sector, focusing on stocks such as Nike, TJX Companies, and Skechers USA.

Currently, the analyst consensus on Skechers USA is a Strong Buy with an average price target of $68.70, representing a 16.80% upside. In a report released on April 19, Wedbush also maintained a Buy rating on the stock with a $68.00 price target.

Based on Skechers USA’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $2.02 billion and a net profit of $145.42 million. In comparison, last year the company earned a revenue of $1.88 billion and had a net profit of $85.89 million

Based on the recent corporate insider activity of 44 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.

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Skechers USA (SKX) Company Description:

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.