Skechers U.S.A., Inc. (NYSE:SKX) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Skechers U.S.A., Inc. (NYSE:SKX) have earned an average recommendation of “Moderate Buy” from the thirteen ratings firms that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $77.00.

A number of research analysts have weighed in on the stock. Barclays boosted their target price on shares of Skechers U.S.A. from $79.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Piper Sandler began coverage on Skechers U.S.A. in a research report on Tuesday, December 10th. They set a “neutral” rating and a $65.00 price objective for the company. Deutsche Bank Aktiengesellschaft increased their target price on Skechers U.S.A. from $83.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Needham & Company LLC assumed coverage on Skechers U.S.A. in a research report on Friday, November 22nd. They issued a “hold” rating on the stock. Finally, Bank of America reduced their price objective on Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, October 25th.

Skechers U.S.A. Trading Up 0.4 %

NYSE SKX opened at $70.35 on Friday. The company has a market capitalization of $10.62 billion, a PE ratio of 17.33, a price-to-earnings-growth ratio of 0.99 and a beta of 1.22. The company has a current ratio of 1.96, a quick ratio of 1.25 and a debt-to-equity ratio of 0.01. Skechers U.S.A. has a 1-year low of $55.67 and a 1-year high of $75.09. The firm’s fifty day simple moving average is $64.10 and its 200-day simple moving average is $66.19.

Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings results on Thursday, October 24th. The textile maker reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.11. The business had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.31 billion. Skechers U.S.A. had a net margin of 7.19% and a return on equity of 13.71%. Skechers U.S.A.’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.93 EPS. As a group, sell-side analysts anticipate that Skechers U.S.A. will post 4.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Skechers U.S.A.

A number of institutional investors have recently modified their holdings of SKX. Seven Eight Capital LP raised its position in shares of Skechers U.S.A. by 126.1% during the second quarter. Seven Eight Capital LP now owns 29,419 shares of the textile maker’s stock worth $2,033,000 after acquiring an additional 16,408 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in Skechers U.S.A. by 36.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 193,363 shares of the textile maker’s stock worth $13,365,000 after purchasing an additional 51,673 shares during the last quarter. Victory Capital Management Inc. lifted its position in Skechers U.S.A. by 22.3% during the 3rd quarter. Victory Capital Management Inc. now owns 138,893 shares of the textile maker’s stock valued at $9,295,000 after purchasing an additional 25,289 shares during the period. Transform Wealth LLC bought a new position in shares of Skechers U.S.A. in the 3rd quarter valued at about $7,186,000. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Skechers U.S.A. during the 2nd quarter worth approximately $632,000. 79.96% of the stock is owned by institutional investors.

About Skechers U.S.A.

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.