Skechers U.S.A. (NYSE:SKX) Upgraded to Buy by Argus

Skechers U.S.A. (NYSE:SKXGet Rating) was upgraded by analysts at Argus from a “hold” rating to a “buy” rating in a report released on Wednesday, The Fly reports.

Other research analysts also recently issued reports about the company. Berenberg Bank reiterated a “buy” rating and issued a $71.00 price target on shares of Skechers U.S.A. in a report on Tuesday, May 17th. TheStreet cut shares of Skechers U.S.A. from a “b” rating to a “c+” rating in a research note on Tuesday, May 17th. StockNews.com initiated coverage on shares of Skechers U.S.A. in a research note on Thursday, March 31st. They set a “hold” rating for the company. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Skechers U.S.A. from $62.00 to $61.00 in a research note on Monday, April 25th. Finally, OTR Global raised shares of Skechers U.S.A. from a “mixed” rating to a “positive” rating in a research note on Tuesday, April 5th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Skechers U.S.A. has an average rating of “Buy” and an average price target of $58.13.

Shares of Skechers U.S.A. stock opened at $37.03 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.44 and a quick ratio of 1.41. Skechers U.S.A. has a 1 year low of $33.50 and a 1 year high of $55.87. The company has a market capitalization of $5.78 billion, a P/E ratio of 7.60 and a beta of 1.33. The business has a 50 day moving average price of $38.61 and a 200 day moving average price of $41.46.

Skechers U.S.A. (NYSE:SKXGet Rating) last issued its quarterly earnings data on Tuesday, April 26th. The textile maker reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.08. Skechers U.S.A. had a return on equity of 12.94% and a net margin of 11.45%. During the same quarter in the prior year, the company posted $0.63 earnings per share. As a group, research analysts expect that Skechers U.S.A. will post 2.84 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in SKX. Fifth Third Bancorp boosted its position in Skechers U.S.A. by 79.3% in the 1st quarter. Fifth Third Bancorp now owns 710 shares of the textile maker’s stock valued at $29,000 after buying an additional 314 shares during the last quarter. Covestor Ltd purchased a new position in Skechers U.S.A. in the 4th quarter valued at about $31,000. Allworth Financial LP boosted its position in Skechers U.S.A. by 198.4% in the 4th quarter. Allworth Financial LP now owns 761 shares of the textile maker’s stock valued at $33,000 after buying an additional 506 shares during the last quarter. Cornerstone Advisory LLC acquired a new stake in shares of Skechers U.S.A. in the 4th quarter valued at about $34,000. Finally, Prospera Financial Services Inc acquired a new stake in shares of Skechers U.S.A. in the 1st quarter valued at about $34,000. 79.71% of the stock is owned by hedge funds and other institutional investors.

About Skechers U.S.A. (Get Rating)

Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children; and performance footwear for men and women worldwide. The company operates through three segments: Domestic Wholesale, International Wholesale, and Direct-to-Consumer. It offers casual, casual athletic, sport athletic, trail, sandals, boots, and retro fashion footwear for men and women under the Skechers USA, Skechers Sport, Skechers Active, Modern Comfort, Skechers Street, Mark Nason, and BOBS brands; sneakers, casuals, boots, and sandals for boys and girls under the Skechers Mega-Craft, S-Lights, SKECH-AIR, Foamies, Twinkle Toes, Z-Strap, Skechers Stretch Fit, and Skechers Street brands; and technical footwear under the Skechers GOrun, Skechers GOwalk, Skechers GOtrain, Skechers GOtrail, and Skechers GO Golf brands.

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