Shares of Skechers U.S.A., Inc. (NYSE:SKX – Get Free Report) have been assigned a consensus rating of “Moderate Buy” from the thirteen research firms that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $78.42.
Several research firms have recently commented on SKX. Bank of America reduced their price objective 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. TD Cowen upped their price target on Skechers U.S.A. from $88.00 to $93.00 and gave the stock a “buy” rating in a research report on Wednesday. Morgan Stanley lifted their price objective on Skechers U.S.A. from $81.00 to $84.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Piper Sandler started coverage on shares of Skechers U.S.A. in a report on Tuesday, December 10th. They issued a “neutral” rating and a $65.00 target price for the company. Finally, Needham & Company LLC assumed coverage on shares of Skechers U.S.A. in a report on Friday, November 22nd. They set a “hold” rating on the stock.
Read Our Latest Stock Analysis on Skechers U.S.A.
Insider Buying and Selling at Skechers U.S.A.
Institutional Investors Weigh In On Skechers U.S.A.
Several large investors have recently added to or reduced their stakes in the stock. Lindenwold Advisors INC increased its position in Skechers U.S.A. by 3.0% during the third 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 last quarter. Edgestream Partners L.P. grew its holdings in Skechers U.S.A. by 2.8% during the 3rd quarter. Edgestream Partners L.P. now owns 8,762 shares of the textile maker’s stock valued at $586,000 after purchasing an additional 236 shares during the last quarter. Covestor Ltd raised its position in Skechers U.S.A. by 18.8% in the 3rd quarter. Covestor Ltd now owns 1,678 shares of the textile maker’s stock worth $112,000 after purchasing an additional 265 shares during the period. QRG Capital Management Inc. lifted its stake in Skechers U.S.A. by 2.6% in the third quarter. QRG Capital Management Inc. now owns 11,157 shares of the textile maker’s stock worth $747,000 after purchasing an additional 284 shares during the last quarter. Finally, First Horizon Advisors Inc. boosted its position in shares of Skechers U.S.A. by 23.1% during the third quarter. First Horizon Advisors Inc. now owns 1,545 shares of the textile maker’s stock valued at $103,000 after buying an additional 290 shares during the period. 79.96% of the stock is owned by institutional investors.
Skechers U.S.A. Trading Down 1.0 %
Shares of NYSE:SKX opened at $69.23 on Thursday. Skechers U.S.A. has a 52-week low of $55.67 and a 52-week high of $75.09. The stock has a market capitalization of $10.45 billion, a price-to-earnings ratio of 17.05, a PEG ratio of 0.98 and a beta of 1.19. 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 stock’s 50-day simple moving average is $65.73 and its two-hundred day simple moving average is $65.66.
Skechers U.S.A. (NYSE:SKX – Get Free Report) last announced its earnings results on Thursday, October 24th. The textile maker reported $1.26 earnings per share (EPS) 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 period in the previous year, the business posted $0.93 earnings per share. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. Analysts expect that Skechers U.S.A. will post 4.24 EPS for the current year.
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.
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