EUR/USD likely to find a peak near 1.25: UBS
Philip Paccione, General Counsel and Secretary of Skechers USA Inc . (NYSE:SKX), recently sold 10,994 shares of the company’s Class A common stock. The shares were sold on March 3 at an average price of $56.63 each, amounting to a total transaction value of $622,590. Following this sale, Paccione retains ownership of 15,000 shares in the company. The transaction comes as Skechers trades near its 52-week low of $55.67, with the stock down about 13% year-to-date. According to InvestingPro, the company currently appears undervalued, with strong fundamentals including a healthy current ratio of 1.97 and moderate debt levels.
In a separate transaction on the same day, Paccione disposed of 9,006 shares through an indirect transaction at a price of $58.49 per share. This transaction was valued at $526,760. After these transactions, Paccione’s direct ownership stands at 25,994 shares. For comprehensive insider trading analysis and 8 additional key insights about Skechers, visit InvestingPro, where you’ll find detailed research reports covering 1,400+ top stocks.
In other recent news, Skechers USA reported its fourth-quarter 2024 earnings, revealing a miss on both earnings per share (EPS) and revenue forecasts. The company posted an EPS of $0.65, falling short of the expected $0.74, while revenue came in at $2.21 billion against a forecast of $2.22 billion. Despite this, Skechers saw a 13% increase in full-year sales, reaching $9.04 billion, and a 26% rise in annual EPS to $4.40. UBS maintained a Buy rating on Skechers, adjusting the price target slightly downward to $90 from $92, citing the company’s global reach and product appeal despite foreign exchange challenges. Barclays (LON:BARC) also adjusted its price target for Skechers, reducing it to $77 from $80, while maintaining an Overweight rating, based on revised financial performance projections. Barclays analyst Adrienne Yih noted adjustments in sales forecasts and increased costs impacting the company’s financial outlook. These developments come as Skechers plans to open 180-200 new stores in 2025, projecting sales between $9.7 billion and $9.8 billion.
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