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

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

SKX has been the topic of several research analyst reports. Morgan Stanley raised their price objective on Skechers U.S.A. from $81.00 to $84.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Needham & Company LLC initiated coverage on Skechers U.S.A. in a research report on Friday, November 22nd. They set a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on Skechers U.S.A. from $83.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, October 25th. StockNews.com downgraded shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a report on Monday, November 25th. Finally, Barclays upped their price target on shares of Skechers U.S.A. from $79.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, October 25th.

Skechers U.S.A. Trading Up 0.4 %

NYSE SKX opened at $70.35 on Friday. Skechers U.S.A. has a 12 month low of $55.67 and a 12 month high of $75.09. The stock has a 50-day simple moving average of $64.10 and a 200 day simple moving average of $66.19. The company has a current ratio of 1.96, a quick ratio of 1.25 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $10.62 billion, a PE ratio of 17.33, a P/E/G ratio of 0.99 and a beta of 1.22.

Skechers U.S.A. (NYSE:SKX) last issued its earnings results on Thursday, October 24th. The textile maker reported $1.26 EPS 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 the consensus estimate of $2.31 billion. Skechers U.S.A. had a net margin of 7.19% and a return on equity of 13.71%. The business’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.93 earnings per share. Research analysts forecast that Skechers U.S.A. will post 4.24 EPS for the current year.

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

A number of institutional investors have recently added to or reduced their stakes in SKX. CIBC Asset Management Inc lifted its position in shares of Skechers U.S.A. by 4.7% in the second quarter. CIBC Asset Management Inc now owns 3,820 shares of the textile maker’s stock valued at $264,000 after buying an additional 173 shares during the last quarter. Lindenwold Advisors INC raised its stake in Skechers U.S.A. by 3.0% in the 3rd quarter. Lindenwold Advisors INC now owns 6,663 shares of the textile maker’s stock valued at $446,000 after acquiring an additional 195 shares during the period. X Square Capital LLC lifted its holdings in Skechers U.S.A. by 0.5% during the 2nd quarter. X Square Capital LLC now owns 40,903 shares of the textile maker’s stock valued at $2,827,000 after purchasing an additional 215 shares during the last quarter. Edgestream Partners L.P. boosted its position in Skechers U.S.A. by 2.8% during the third quarter. Edgestream Partners L.P. now owns 8,762 shares of the textile maker’s stock worth $586,000 after purchasing an additional 236 shares during the period. Finally, Covestor Ltd increased its holdings in shares of Skechers U.S.A. by 18.8% in the third quarter. Covestor Ltd now owns 1,678 shares of the textile maker’s stock valued at $112,000 after purchasing an additional 265 shares during the last quarter. 79.96% of the stock is currently owned by institutional investors and hedge funds.

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.