Skechers U.S.A., Inc. (NYSE:SKX) Given Average Recommendation of "Moderate Buy" by Analysts

Shares of Skechers U.S.A., Inc. (NYSE:SKX - Get Free Report) have been given a consensus rating of "Moderate Buy" by the thirteen research firms that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $77.00.

A number of equities research analysts have commented on SKX shares. Morgan Stanley raised their price objective on Skechers U.S.A. from $81.00 to $84.00 and gave the company an "overweight" rating in a research note on Friday, October 25th. StockNews.com lowered shares of Skechers U.S.A. from a "buy" rating to a "hold" rating in a report on Monday, November 25th. Needham & Company LLC began coverage on Skechers U.S.A. in a research report on Friday, November 22nd. They set a "hold" rating on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Skechers U.S.A. from $83.00 to $84.00 and gave the stock a "buy" rating in a report on Friday, October 25th. Finally, 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.

Skechers U.S.A. Trading Up 0.4 %

Skechers U.S.A. stock traded up $0.25 during trading hours on Friday, reaching $70.35. 1,067,942 shares of the company's stock were exchanged, compared to its average volume of 1,750,135. The firm's 50 day simple moving average is $64.10 and its 200 day simple moving average is $66.17. Skechers U.S.A. has a twelve month low of $55.67 and a twelve month high of $75.09. The company has a quick ratio of 1.25, a current ratio of 1.96 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $10.62 billion, a PE ratio of 17.33, a PEG ratio of 0.98 and a beta of 1.22.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last released 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. Skechers U.S.A. had a return on equity of 13.71% and a net margin of 7.19%. The business had revenue of $2.35 billion during the quarter, compared to analysts' expectations of $2.31 billion. During the same quarter last year, the firm posted $0.93 earnings per share. The firm's revenue was up 16.0% on a year-over-year basis. Research analysts predict that Skechers U.S.A. will post 4.24 earnings per share for the current year.

Institutional Trading of Skechers U.S.A.

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. UMB Bank n.a. increased its stake in Skechers U.S.A. by 423.3% in the 3rd quarter. UMB Bank n.a. now owns 450 shares of the textile maker's stock worth $30,000 after acquiring an additional 364 shares during the last quarter. Venturi Wealth Management LLC increased its position in shares of Skechers U.S.A. by 52.9% in the third quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker's stock worth $58,000 after purchasing an additional 299 shares during the last quarter. Brooklyn Investment Group bought a new position in shares of Skechers U.S.A. in the third quarter worth approximately $67,000. 1620 Investment Advisors Inc. purchased a new stake in Skechers U.S.A. in the second quarter valued at approximately $69,000. Finally, Blue Trust Inc. increased its stake in Skechers U.S.A. by 778.1% in the third quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker's stock valued at $69,000 after acquiring an additional 887 shares during the last quarter. Institutional investors own 79.96% of the company's stock.

Skechers U.S.A. Company Profile

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.