Skechers U.S.A. (NYSE:SKX) Upgraded at StockNews.com

Skechers U.S.A. (NYSE:SKX - Get Free Report) was upgraded by StockNews.com from a "hold" rating to a "buy" rating in a research note issued to investors on Tuesday.

Other equities research analysts also recently issued reports about the company. Bank of America dropped their target price on Skechers U.S.A. from $81.00 to $80.00 and set a "buy" rating on the stock in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft upped their price target on Skechers U.S.A. from $83.00 to $84.00 and gave the stock a "buy" rating in a report on Friday, October 25th. Evercore ISI upped their price target on Skechers U.S.A. from $68.00 to $72.00 and gave the stock an "outperform" rating in a research note on Friday, July 26th. TD Cowen lowered their price target on Skechers U.S.A. from $78.00 to $76.00 and set a "buy" rating on the stock in a report on Monday, October 14th. Finally, Morgan Stanley upped their price objective on Skechers U.S.A. from $81.00 to $84.00 and gave the stock an "overweight" rating in a report on Friday, October 25th. Twelve investment 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. Trading Down 0.4 %

Shares of NYSE:SKX traded down $0.23 during midday trading on Tuesday, hitting $60.79. 1,602,132 shares of the stock were exchanged, compared to its average volume of 1,895,256. The business's 50-day moving average price is $64.61 and its 200 day moving average price is $66.58. Skechers U.S.A. has a 12 month low of $49.08 and a 12 month high of $75.09. The stock has a market capitalization of $9.18 billion, a price-to-earnings ratio of 15.03, a P/E/G ratio of 0.87 and a beta of 1.23. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.25 and a current ratio of 1.96.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The textile maker reported $1.26 EPS for the quarter, beating analysts' consensus estimates 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 analyst estimates of $2.31 billion. During the same period in the prior year, the firm posted $0.93 EPS. Skechers U.S.A.'s quarterly revenue was up 16.0% compared to the same quarter last year. Analysts predict that Skechers U.S.A. will post 4.25 earnings per share for the current year.

Skechers U.S.A. announced that its Board of Directors has initiated a share repurchase program 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 shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Bessemer Group Inc. lifted its position 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 valued at $25,000 after buying an additional 164 shares during the period. UMB Bank n.a. lifted its position in Skechers U.S.A. by 423.3% during the third quarter. UMB Bank n.a. now owns 450 shares of the textile maker's stock valued at $30,000 after buying an additional 364 shares during the period. Versant Capital Management Inc raised its position in shares of Skechers U.S.A. by 2,809.1% in the 2nd quarter. Versant Capital Management Inc now owns 640 shares of the textile maker's stock worth $44,000 after purchasing an additional 618 shares during the last quarter. Venturi Wealth Management LLC raised its position in shares of Skechers U.S.A. by 52.9% in the 3rd 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. Finally, 1620 Investment Advisors Inc. purchased a new position in shares of Skechers U.S.A. in the 2nd quarter worth about $69,000. 79.96% of the stock is currently owned by institutional investors.

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.