Skechers U.S.A. (NYSE:SKX) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Skechers U.S.A. (NYSE:SKX) from a buy rating to a hold rating in a research report report published on Monday morning.

Other equities analysts have also recently issued reports about the stock. TD Cowen reduced their price target on shares of Skechers U.S.A. from $78.00 to $76.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Skechers U.S.A. from $83.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Bank of America reduced 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 research report on Friday, October 25th. Needham & Company LLC began coverage on shares of Skechers U.S.A. in a research report on Friday. They set a “hold” rating on the stock. Finally, Morgan Stanley lifted their price target on shares of Skechers U.S.A. from $81.00 to $84.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $78.09.

Skechers U.S.A. Price Performance

SKX opened at $63.48 on Monday. The company has a fifty day moving average price of $63.52 and a two-hundred day moving average price of $66.20. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.25 and a current ratio of 1.96. Skechers U.S.A. has a 52 week low of $55.51 and a 52 week high of $75.09. The firm 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. (NYSE:SKX) last released its earnings results on Thursday, October 24th. The textile maker reported $1.26 EPS 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 in the previous year, the business earned $0.93 EPS. The business’s quarterly revenue was up 16.0% compared to the same quarter last year. As a group, analysts anticipate that Skechers U.S.A. will post 4.25 earnings per share for the current year.

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

Several institutional investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC lifted its position in Skechers U.S.A. by 24.3% in the 3rd quarter. Tidal Investments LLC now owns 51,827 shares of the textile maker’s stock valued at $3,468,000 after acquiring an additional 10,122 shares in the last quarter. World Investment Advisors LLC acquired a new stake in Skechers U.S.A. in the 3rd quarter valued at $1,182,000. Sanctuary Advisors LLC increased its stake in Skechers U.S.A. by 88.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 29,538 shares of the textile maker’s stock valued at $1,822,000 after buying an additional 13,836 shares during the last quarter. Te Ahumairangi Investment Management Ltd increased its stake in Skechers U.S.A. by 31.0% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 89,950 shares of the textile maker’s stock valued at $5,985,000 after buying an additional 21,275 shares during the last quarter. Finally, Neo Ivy Capital Management acquired a new stake in Skechers U.S.A. in the 3rd quarter valued at $2,402,000. 79.96% of the stock is owned by institutional investors.

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.