Skechers U.S.A., Inc. (NYSE:SKX) Receives Consensus Rating of "Buy" from Analysts

Skechers U.S.A., Inc. (NYSE:SKX - Get Free Report) has earned an average recommendation of "Buy" from the eleven brokerages that are currently covering the stock, Marketbeat.com reports. Eleven analysts have rated the stock with a buy recommendation. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $78.09.

Several equities analysts recently commented on SKX shares. Deutsche Bank Aktiengesellschaft upped their target price on shares of Skechers U.S.A. from $83.00 to $84.00 and gave the company a "buy" rating in a research note on Friday. 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 note on Friday, July 26th. Evercore ISI upped their target price on shares of Skechers U.S.A. from $68.00 to $72.00 and gave the company an "outperform" rating in a research note on Friday, July 26th. Bank of America dropped their price objective on shares of Skechers U.S.A. from $81.00 to $80.00 and set a "buy" rating for the company in a research note on Friday. Finally, Stifel Nicolaus increased 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.

Skechers U.S.A. Stock Down 3.9 %

SKX stock traded down $2.42 during trading hours on Friday, hitting $59.21. The company's stock had a trading volume of 6,649,372 shares, compared to its average volume of 1,871,951. The company has a quick ratio of 1.33, a current ratio of 2.06 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $9.03 billion, a PE ratio of 15.58, a price-to-earnings-growth ratio of 0.89 and a beta of 1.22. Skechers U.S.A. has a 12 month low of $45.58 and a 12 month high of $75.09. The stock has a 50 day moving average price of $65.98 and a two-hundred day moving average price of $66.11.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The textile maker reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.11. The business 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 6.90% and a return on equity of 13.04%. Skechers U.S.A.'s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.93 EPS. On average, equities research analysts expect that Skechers U.S.A. will post 4.15 earnings per share for the current year.

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

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

Hedge funds and other institutional investors have recently made changes to their positions in the company. Park Avenue Securities LLC lifted its holdings in shares of Skechers U.S.A. by 4.3% during the first quarter. Park Avenue Securities LLC now owns 12,262 shares of the textile maker's stock worth $751,000 after buying an additional 502 shares in the last quarter. Sunbelt Securities Inc. acquired a new position in Skechers U.S.A. during the first quarter worth about $45,000. Hennion & Walsh Asset Management Inc. grew its holdings in shares of Skechers U.S.A. by 41.9% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 36,813 shares of the textile maker's stock worth $2,255,000 after purchasing an additional 10,863 shares during the last quarter. Symphony Financial Ltd. Co. grew its holdings in shares of Skechers U.S.A. by 34.8% during the first quarter. Symphony Financial Ltd. Co. now owns 6,200 shares of the textile maker's stock worth $380,000 after purchasing an additional 1,600 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew its holdings in shares of Skechers U.S.A. by 62.6% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,232,993 shares of the textile maker's stock worth $75,534,000 after purchasing an additional 474,524 shares during the last quarter. 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.