Deutsche Bank Aktiengesellschaft Raises Skechers U.S.A. (NYSE:SKX) Price Target to $84.00

Skechers U.S.A. (NYSE:SKX - Get Free Report) had its price objective raised by stock analysts at Deutsche Bank Aktiengesellschaft from $83.00 to $84.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a "buy" rating on the textile maker's stock. Deutsche Bank Aktiengesellschaft's target price points to a potential upside of 41.83% from the stock's current price.

Other equities research analysts have also issued reports about the company. TD Cowen decreased their target price on Skechers U.S.A. from $78.00 to $76.00 and set a "buy" rating for the company in a research report on Monday, October 14th. Morgan Stanley lifted their price objective 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. Wedbush increased their target price on shares of Skechers U.S.A. from $76.00 to $79.00 and gave the company an "outperform" rating in a research report on Friday, July 26th. Evercore ISI lifted their price target on shares of Skechers U.S.A. from $68.00 to $72.00 and gave the stock an "outperform" rating in a report on Friday, July 26th. Finally, Stifel Nicolaus upped their price target on Skechers U.S.A. from $81.00 to $83.00 and gave the company a "buy" rating in a research report on Friday, July 26th. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $78.09.

Skechers U.S.A. Stock Down 3.9 %

Shares of SKX stock traded down $2.41 on Friday, hitting $59.23. The stock had a trading volume of 6,641,117 shares, compared to its average volume of 1,871,951. Skechers U.S.A. has a 12-month low of $45.58 and a 12-month high of $75.09. The stock has a market cap of $9.03 billion, a price-to-earnings ratio of 15.59, a price-to-earnings-growth ratio of 0.89 and a beta of 1.22. The business has a 50 day moving average of $65.98 and a 200 day moving average of $66.11. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.06 and a quick ratio of 1.33.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last posted its earnings results on Thursday, October 24th. The textile maker reported $1.26 EPS for the quarter, topping the consensus estimate of $1.15 by $0.11. The firm had revenue of $2.35 billion for the quarter, compared to analysts' expectations of $2.31 billion. Skechers U.S.A. had a net margin of 6.90% and a return on equity of 13.04%. The company's quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.93 EPS. As a group, analysts expect that Skechers U.S.A. will post 4.15 EPS for the current year.

Skechers U.S.A. declared that its Board of Directors has authorized a share repurchase program on Thursday, July 25th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the textile maker to purchase up to 10.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

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

Several hedge funds have recently added to or reduced their stakes in SKX. Park Avenue Securities LLC boosted its holdings in Skechers U.S.A. by 4.3% in the first quarter. Park Avenue Securities LLC now owns 12,262 shares of the textile maker's stock valued at $751,000 after acquiring an additional 502 shares in the last quarter. Sunbelt Securities Inc. bought a new position in shares of Skechers U.S.A. during the 1st quarter valued at $45,000. Hennion & Walsh Asset Management Inc. lifted its holdings in Skechers U.S.A. by 41.9% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 36,813 shares of the textile maker's stock valued at $2,255,000 after acquiring an additional 10,863 shares during the period. Symphony Financial Ltd. Co. boosted its holdings in shares of Skechers U.S.A. by 34.8% in the first quarter. Symphony Financial Ltd. Co. now owns 6,200 shares of the textile maker's stock worth $380,000 after buying an additional 1,600 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its stake in shares of Skechers U.S.A. by 62.6% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,232,993 shares of the textile maker's stock worth $75,534,000 after acquiring an additional 474,524 shares during the last quarter. Institutional investors own 79.96% of the company's stock.

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.