Skechers U.S.A. (NYSE:SKX) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Skechers U.S.A. (NYSE:SKX) to a hold rating in a research note released on Saturday morning.

Several other research analysts have also weighed in on the stock. TD Cowen lowered shares of Skechers U.S.A. from a “buy” rating to a “hold” rating and set a $63.00 price objective on the stock. in a report on Wednesday, May 28th. Wells Fargo & Company boosted their target price on Skechers U.S.A. from $57.00 to $63.00 and gave the stock an “overweight” rating in a report on Tuesday, May 6th. Needham & Company LLC reiterated a “hold” rating on shares of Skechers U.S.A. in a report on Wednesday. Argus cut Skechers U.S.A. from a “buy” rating to a “hold” rating and set a $63.00 target price for the company. in a report on Tuesday, August 26th. Finally, Monness Crespi & Hardt downgraded Skechers U.S.A. from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 7th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $66.46.

Skechers U.S.A. Trading Up 0.0%

Shares of SKX stock opened at $63.10 on Friday. The firm has a market cap of $9.48 billion, a P/E ratio of 14.41 and a beta of 1.16. Skechers U.S.A. has a 1-year low of $44.50 and a 1-year high of $78.85. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.09 and a quick ratio of 1.29. The firm’s 50-day simple moving average is $63.07 and its 200-day simple moving average is $59.51.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings data on Friday, August 8th. The textile maker reported $1.13 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.27. The business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.35 billion. Skechers U.S.A. had a net margin of 7.07% and a return on equity of 13.44%. The company’s revenue was up 13.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.91 EPS. As a group, equities analysts forecast that Skechers U.S.A. will post 4.47 EPS for the current year.

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

A number of hedge funds have recently bought and sold shares of the business. Boussard & Gavaudan Investment Management LLP acquired a new stake in Skechers U.S.A. during the 2nd quarter valued at approximately $5,054,000. Nomura Holdings Inc. acquired a new stake in Skechers U.S.A. during the 2nd quarter valued at approximately $140,963,000. Caxton Associates LLP acquired a new stake in Skechers U.S.A. during the 2nd quarter valued at approximately $15,144,000. MASO CAPITAL PARTNERS Ltd acquired a new stake in Skechers U.S.A. during the 2nd quarter valued at approximately $3,060,000. Finally, FORA Capital LLC acquired a new stake in Skechers U.S.A. during the second quarter valued at approximately $763,000. Institutional investors and hedge funds own 79.96% of the company’s stock.

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.