Skechers U.S.A. (NYSE:SKX) Upgraded at Zacks Research

Zacks Research upgraded shares of Skechers U.S.A. (NYSE:SKX) from a hold rating to a strong-buy rating in a report published on Tuesday,Zacks.com reports.

A number of other research firms have also recently commented on SKX. UBS Group restated a “neutral” rating and set a $63.00 price target (down from $64.00) on shares of Skechers U.S.A. in a research note on Tuesday, May 6th. Wells Fargo & Company boosted their price target on shares of Skechers U.S.A. from $57.00 to $63.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 6th. Monness Crespi & Hardt downgraded shares of Skechers U.S.A. from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 7th. Raymond James Financial downgraded shares of Skechers U.S.A. from a “moderate buy” rating to a “hold” rating in a research note on Monday, May 5th. Finally, Barclays restated an “equal weight” rating and issued a $63.00 price target (up previously from $53.00) on shares of Skechers U.S.A. in a research note on Tuesday, May 6th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $66.46.

Skechers U.S.A. Stock Up 0.1%

NYSE:SKX opened at $63.08 on Tuesday. The company has a quick ratio of 1.29, a current ratio of 2.09 and a debt-to-equity ratio of 0.02. The stock’s fifty day moving average is $63.06 and its two-hundred day moving average is $59.54. Skechers U.S.A. has a 52 week low of $44.50 and a 52 week high of $78.85. The stock has a market capitalization of $9.48 billion, a price-to-earnings ratio of 14.40 and a beta of 1.16.

Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings results on Friday, August 8th. The textile maker reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.27. Skechers U.S.A. had a return on equity of 13.44% and a net margin of 7.07%.The company had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same period in the prior year, the firm earned $0.91 earnings per share. The firm’s revenue was up 13.1% compared to the same quarter last year. Research analysts anticipate that Skechers U.S.A. will post 4.47 EPS for the current year.

Institutional Investors Weigh In On Skechers U.S.A.

Several institutional investors have recently modified their holdings of SKX. Banque Transatlantique SA purchased a new stake in shares of Skechers U.S.A. during the 1st quarter worth $26,000. NewEdge Advisors LLC lifted its position in shares of Skechers U.S.A. by 85.2% during the 4th quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker’s stock worth $28,000 after purchasing an additional 190 shares during the last quarter. Hantz Financial Services Inc. lifted its position in shares of Skechers U.S.A. by 297.5% during the 2nd quarter. Hantz Financial Services Inc. now owns 477 shares of the textile maker’s stock worth $30,000 after purchasing an additional 357 shares during the last quarter. Investment Management Corp VA ADV purchased a new stake in Skechers U.S.A. in the fourth quarter valued at $32,000. Finally, Parallel Advisors LLC lifted its position in Skechers U.S.A. by 183.0% in the first quarter. Parallel Advisors LLC now owns 617 shares of the textile maker’s stock valued at $35,000 after acquiring an additional 399 shares during the last quarter. 79.96% of the stock is owned by hedge funds and other institutional investors.

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.