Skechers U.S.A. (NYSE:SKX - Get Free Report) was upgraded by equities research analysts at StockNews.com from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Thursday.
Several other research analysts also recently commented on the company. Barclays lifted their price objective on Skechers U.S.A. from $79.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, October 25th. Needham & Company LLC initiated coverage on Skechers U.S.A. in a research report on Friday, November 22nd. They issued a "hold" rating for the company. TD Cowen cut their target price on shares of 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. Piper Sandler began coverage on shares of Skechers U.S.A. in a research note on Tuesday, December 10th. They issued a "neutral" rating and a $65.00 target price on the stock. Finally, Morgan Stanley increased their price target on shares of Skechers U.S.A. from $81.00 to $84.00 and gave the company an "overweight" rating in a research report on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $77.00.
View Our Latest Analysis on SKX
Skechers U.S.A. Price Performance
SKX traded up $0.23 during midday trading on Thursday, hitting $66.29. The stock had a trading volume of 1,520,243 shares, compared to its average volume of 1,881,384. Skechers U.S.A. has a 1 year low of $55.67 and a 1 year high of $75.09. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.25 and a current ratio of 1.96. The business has a fifty day moving average of $64.18 and a 200 day moving average of $66.13. The company has a market cap of $10.01 billion, a P/E ratio of 16.33, a price-to-earnings-growth ratio of 0.98 and a beta of 1.22.
Skechers U.S.A. (NYSE:SKX - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The textile maker reported $1.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.15 by $0.11. The company had revenue of $2.35 billion during the quarter, compared to analysts' expectations of $2.31 billion. Skechers U.S.A. had a net margin of 7.19% and a return on equity of 13.71%. The firm's revenue was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.93 EPS. As a group, equities analysts forecast that Skechers U.S.A. will post 4.24 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in SKX. Wealth Enhancement Advisory Services LLC purchased a new stake in Skechers U.S.A. in the second quarter worth $335,000. Envestnet Portfolio Solutions Inc. grew its position in shares of Skechers U.S.A. by 23.6% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 5,490 shares of the textile maker's stock worth $379,000 after buying an additional 1,049 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Skechers U.S.A. by 51.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 29,804 shares of the textile maker's stock worth $2,060,000 after acquiring an additional 10,091 shares in the last quarter. Fifth Third Wealth Advisors LLC purchased a new position in Skechers U.S.A. during the 2nd quarter valued at about $282,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in Skechers U.S.A. by 9.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 37,724 shares of the textile maker's stock worth $2,607,000 after acquiring an additional 3,333 shares in the last quarter. Hedge funds and other institutional investors own 79.96% of the company's stock.
Skechers U.S.A. Company Profile
(
Get Free Report)
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.
Further Reading
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