Skechers U.S.A., Inc. (NYSE:SKX) Receives $78.09 Consensus Price Target from Analysts

Shares of Skechers U.S.A., Inc. (NYSE:SKX) have earned a consensus recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $78.09.

Several analysts have issued reports on the company. TD Cowen cut their price objective on Skechers U.S.A. from $78.00 to $76.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft lifted their price target on 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 upped their target price on Skechers U.S.A. from $79.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Needham & Company LLC started coverage on shares of Skechers U.S.A. in a report on Friday. They set a “hold” rating on the stock. Finally, Bank of America cut their price target on Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, October 25th.

Skechers U.S.A. Trading Up 1.1 %

Shares of Skechers U.S.A. stock opened at $61.69 on Wednesday. The business has a fifty day simple moving average of $63.61 and a 200-day simple moving average of $66.24. Skechers U.S.A. has a fifty-two week low of $54.95 and a fifty-two week high of $75.09. The firm has a market cap of $9.31 billion, a price-to-earnings ratio of 15.19, a price-to-earnings-growth ratio of 0.85 and a beta of 1.23. The company has a quick ratio of 1.25, a current ratio of 1.96 and a debt-to-equity ratio of 0.01.

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. Skechers U.S.A. had a net margin of 7.19% and a return on equity of 13.71%. The company had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same quarter last year, the firm posted $0.93 EPS. The business’s revenue for the quarter was up 16.0% on a year-over-year basis. On average, equities analysts forecast that Skechers U.S.A. will post 4.25 EPS for the current fiscal year.

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

Several institutional investors and hedge funds have recently bought and sold shares of SKX. Pacer Advisors Inc. increased its stake in Skechers U.S.A. by 5,780.6% in the third quarter. Pacer Advisors Inc. now owns 2,639,390 shares of the textile maker’s stock valued at $176,628,000 after acquiring an additional 2,594,507 shares during the period. Commerce Bank grew its stake in shares of Skechers U.S.A. by 949.5% in the 3rd quarter. Commerce Bank now owns 467,774 shares of the textile maker’s stock valued at $31,303,000 after purchasing an additional 423,204 shares during the period. Coronation Fund Managers Ltd. lifted its position in shares of Skechers U.S.A. by 378.6% during the 3rd quarter. Coronation Fund Managers Ltd. now owns 498,837 shares of the textile maker’s stock worth $33,382,000 after buying an additional 394,618 shares during the period. Acadian Asset Management LLC acquired a new stake in Skechers U.S.A. in the 2nd quarter valued at $22,425,000. Finally, Wellington Management Group LLP raised its stake in Skechers U.S.A. by 39.0% during the third quarter. Wellington Management Group LLP now owns 1,025,556 shares of the textile maker’s stock worth $68,630,000 after acquiring an additional 287,939 shares in the last quarter. 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.