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

Shares of Skechers U.S.A., Inc. (NYSE:SKX) have been assigned a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $77.00.

SKX has been the topic of several analyst reports. StockNews.com raised shares of Skechers U.S.A. from a “hold” rating to a “buy” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Skechers U.S.A. from $83.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Bank of America decreased their price target on Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Needham & Company LLC began coverage on Skechers U.S.A. in a research report on Friday, November 22nd. They issued a “hold” rating for the company. Finally, Morgan Stanley increased their target price on Skechers U.S.A. from $81.00 to $84.00 and gave the stock an “overweight” rating in a report on Friday, October 25th.

Skechers U.S.A. Trading Up 0.3 %

Shares of SKX stock opened at $66.29 on Friday. The firm has a market capitalization of $10.01 billion, a P/E ratio of 16.33, a price-to-earnings-growth ratio of 0.98 and a beta of 1.22. 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 $64.18 and its 200 day simple moving average is $66.13. 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. (NYSE:SKX) last announced its quarterly earnings data on Thursday, October 24th. The textile maker reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.11. The company had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.31 billion. Skechers U.S.A. had a return on equity of 13.71% and a net margin of 7.19%. The company’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter last year, the company earned $0.93 EPS. As a group, sell-side analysts predict that Skechers U.S.A. will post 4.24 EPS for the current year.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. UMB Bank n.a. grew its holdings in shares of Skechers U.S.A. by 423.3% in the 3rd quarter. UMB Bank n.a. now owns 450 shares of the textile maker’s stock valued at $30,000 after acquiring an additional 364 shares in the last quarter. Venturi Wealth Management LLC increased its position in shares of Skechers U.S.A. by 52.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker’s stock worth $58,000 after purchasing an additional 299 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Skechers U.S.A. by 778.1% during the 3rd quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker’s stock worth $69,000 after purchasing an additional 887 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new stake in shares of Skechers U.S.A. in the 2nd quarter valued at approximately $69,000. Finally, Brooklyn Investment Group bought a new position in shares of Skechers U.S.A. in the third quarter valued at $67,000. 79.96% of the stock is currently owned by institutional investors and hedge funds.

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.