Brokerages Set Skechers U.S.A., Inc. (NYSE:SKX) PT at $77.82

Shares of Skechers U.S.A., Inc. (NYSE:SKX - Get Free Report) have earned a consensus recommendation of "Buy" from the eleven ratings firms that are presently covering the stock, Marketbeat.com reports. Eleven investment analysts have rated the stock with a buy rating. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $77.82.

A number of research analysts have issued reports on SKX shares. Morgan Stanley raised shares of Skechers U.S.A. from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $60.00 to $80.00 in a research note on Tuesday, July 23rd. Stifel Nicolaus raised their price objective on shares of Skechers U.S.A. from $81.00 to $83.00 and gave the company a "buy" rating in a research note on Friday, July 26th. Wedbush upped 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. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $82.00 price target on shares of Skechers U.S.A. in a research report on Thursday, June 13th. Finally, Bank of America cut their target price on Skechers U.S.A. from $87.00 to $81.00 and set a "buy" rating on the stock in a research note on Monday, September 23rd.

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

Several hedge funds have recently modified their holdings of the stock. Redmont Wealth Advisors LLC bought a new position in Skechers U.S.A. in the first quarter valued at approximately $25,000. Bessemer Group Inc. increased its holdings in Skechers U.S.A. by 66.7% during the first quarter. Bessemer Group Inc. now owns 410 shares of the textile maker's stock worth $25,000 after buying an additional 164 shares during the last quarter. Game Plan Financial Advisors LLC bought a new stake in Skechers U.S.A. during the first quarter worth $43,000. Versant Capital Management Inc raised its position in Skechers U.S.A. by 2,809.1% during the second quarter. Versant Capital Management Inc now owns 640 shares of the textile maker's stock worth $44,000 after acquiring an additional 618 shares in the last quarter. Finally, Sunbelt Securities Inc. acquired a new stake in Skechers U.S.A. in the first quarter valued at $45,000. Institutional investors own 79.96% of the company's stock.

Skechers U.S.A. Price Performance

Shares of SKX stock traded up $0.06 during trading hours on Tuesday, reaching $66.98. 1,438,874 shares of the company were exchanged, compared to its average volume of 1,829,639. Skechers U.S.A. has a fifty-two week low of $45.58 and a fifty-two week high of $75.09. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.06 and a quick ratio of 1.33. The stock's fifty day moving average is $65.49 and its two-hundred day moving average is $65.66. The company has a market cap of $10.20 billion, a price-to-earnings ratio of 17.63, a P/E/G ratio of 0.97 and a beta of 1.23.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last posted its quarterly earnings data on Thursday, July 25th. The textile maker reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.04). The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.24 billion. Skechers U.S.A. had a return on equity of 13.04% and a net margin of 6.90%. The firm's quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.98 EPS. Sell-side analysts forecast that Skechers U.S.A. will post 4.16 earnings per share for the current fiscal year.

Skechers U.S.A. announced that its board has approved a stock repurchase plan on Thursday, July 25th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the textile maker to purchase up to 10.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's management believes its stock is undervalued.

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.