Skechers U.S.A., Inc. (NYSE:SKX) Receives $78.09 Consensus PT from Brokerages

Skechers U.S.A., Inc. (NYSE:SKX) has received an average rating of “Moderate Buy” from the twelve ratings firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $78.09.

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

Institutional Trading of Skechers U.S.A.

Hedge funds have recently made changes to their positions in the stock. Bessemer Group Inc. lifted its stake in Skechers U.S.A. by 66.7% during the first quarter. Bessemer Group Inc. now owns 410 shares of the textile maker’s stock worth $25,000 after purchasing an additional 164 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of Skechers U.S.A. by 423.3% during the 3rd quarter. UMB Bank n.a. now owns 450 shares of the textile maker’s stock valued at $30,000 after buying an additional 364 shares in the last quarter. Versant Capital Management Inc lifted its position in Skechers U.S.A. by 2,809.1% in the 2nd quarter. Versant Capital Management Inc now owns 640 shares of the textile maker’s stock worth $44,000 after buying an additional 618 shares during the last quarter. Venturi Wealth Management LLC boosted its stake in Skechers U.S.A. by 52.9% in the third quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker’s stock worth $58,000 after buying an additional 299 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new stake in Skechers U.S.A. in the third quarter worth approximately $67,000. 79.96% of the stock is owned by institutional investors.

Skechers U.S.A. Stock Down 0.8 %

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

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

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.