Skechers U.S.A. (NYSE:SKX) Lowered to “Hold” Rating by StockNews.com

Skechers U.S.A. (NYSE:SKX) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Monday.

Several other brokerages have also issued reports on SKX. Bank of America reduced their target price on shares of Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. TD Cowen reduced their target price on shares of Skechers U.S.A. from $78.00 to $76.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft raised 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 research note on Friday, October 25th. Needham & Company LLC started coverage on shares of Skechers U.S.A. in a research note on Friday. They issued a “hold” rating on the stock. Finally, Barclays raised their target price on shares of 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. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Skechers U.S.A. currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.09.

Skechers U.S.A. Price Performance

SKX traded up $1.79 during midday trading on Monday, hitting $63.48. The company had a trading volume of 1,775,123 shares, compared to its average volume of 1,881,479. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.25 and a current ratio of 1.96. The company has a market capitalization of $9.58 billion, a PE ratio of 15.64, a P/E/G ratio of 0.86 and a beta of 1.23. Skechers U.S.A. has a twelve month low of $55.51 and a twelve month high of $75.09. The firm’s 50-day simple moving average is $63.52 and its 200-day simple moving average is $66.20.

Skechers U.S.A. (NYSE:SKX) last posted its quarterly earnings data on Thursday, October 24th. The textile maker reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.11. The firm had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Skechers U.S.A. had a net margin of 7.19% and a return on equity of 13.71%. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.93 EPS. Equities research analysts predict that Skechers U.S.A. will post 4.25 EPS for the current fiscal year.

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

A number of large investors have recently added to or reduced their stakes in the company. Tidal Investments LLC increased its holdings in Skechers U.S.A. by 24.3% during the 3rd quarter. Tidal Investments LLC now owns 51,827 shares of the textile maker’s stock worth $3,468,000 after purchasing an additional 10,122 shares in the last quarter. World Investment Advisors LLC bought a new position in Skechers U.S.A. during the 3rd quarter worth about $1,182,000. Sanctuary Advisors LLC boosted its stake in shares of Skechers U.S.A. by 88.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 29,538 shares of the textile maker’s stock worth $1,822,000 after buying an additional 13,836 shares during the last quarter. Te Ahumairangi Investment Management Ltd boosted its stake in shares of Skechers U.S.A. by 31.0% during the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 89,950 shares of the textile maker’s stock worth $5,985,000 after buying an additional 21,275 shares during the last quarter. Finally, Neo Ivy Capital Management acquired a new position in shares of Skechers U.S.A. during the 3rd quarter worth about $2,402,000. Institutional investors 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.