Analysts Set Skechers U.S.A., Inc. (NYSE:SKX) PT at $78.09

Skechers U.S.A., Inc. (NYSE:SKX) has been assigned a consensus rating of “Moderate Buy” from the twelve brokerages that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $78.09.

A number of research analysts have commented on SKX shares. StockNews.com lowered Skechers U.S.A. from a “buy” rating to a “hold” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Skechers U.S.A. from $83.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Morgan Stanley lifted their target price on shares of Skechers U.S.A. from $81.00 to $84.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. TD Cowen decreased their price target on shares of Skechers U.S.A. from $78.00 to $76.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Finally, Barclays raised their price objective on shares of Skechers U.S.A. from $79.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, October 25th.

Institutional Trading of Skechers U.S.A.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Skechers U.S.A. by 0.8% in the first quarter. Vanguard Group Inc. now owns 12,724,299 shares of the textile maker’s stock worth $779,491,000 after acquiring an additional 97,666 shares during the last quarter. Bessemer Group Inc. grew its position in Skechers U.S.A. by 66.7% during the 1st quarter. Bessemer Group Inc. now owns 410 shares of the textile maker’s stock valued at $25,000 after purchasing an additional 164 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Skechers U.S.A. during the 1st quarter valued at about $206,000. LRI Investments LLC bought a new stake in Skechers U.S.A. during the 1st quarter valued at about $102,000. Finally, Magnetar Financial LLC purchased a new position in Skechers U.S.A. in the first quarter worth about $3,203,000. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Skechers U.S.A. Stock Down 0.8 %

SKX opened at $62.96 on Wednesday. Skechers U.S.A. has a 12 month low of $55.51 and a 12 month high of $75.09. The company has a current ratio of 1.96, a quick ratio of 1.25 and a debt-to-equity ratio of 0.01. The business’s 50-day moving average price is $63.42 and its 200-day moving average price is $66.17. The company has a market cap of $9.51 billion, a P/E ratio of 15.51, a P/E/G ratio of 0.88 and a beta of 1.23.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings results on Thursday, October 24th. The textile maker reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.11. Skechers U.S.A. had a return on equity of 13.71% and a net margin of 7.19%. The business had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same period in the previous year, the firm earned $0.93 EPS. The business’s quarterly revenue was up 16.0% on a year-over-year basis. On average, equities analysts expect that Skechers U.S.A. will post 4.25 EPS for the current year.

Skechers U.S.A. Company Profile

Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children worldwide. The company operates through Wholesale and Direct-to-Consumer segments. It offers footwear under Skechers Hands Free Slip-ins, Skechers Arch Fit, and Skechers Air-Cooled Memory Foam brands.