Skechers USA, Inc. (NYSE:SKX – get rating) has received an average rating of “Moderate Buy” from the eleven brokerages that cover the firm, reports Marketbeat.com. One stock research analyst rated the stock a hold rating and six gave the company a buy rating. The average 1-year target price among brokerages that have hedged the stock in the past year is $55.17.
Several analysts have weighed in on SKX’s shares. StockNews.com began coverage of Skechers USA in an investigative report on Thursday, March 31. They issued a “hold” rating for the company. UBS Group lowered its price target on Skechers USA from $67.00 to $56.00 in a research note on Friday, July 15. Stifel Nicolaus lowered its price target on Skechers USA from $61.00 to $45.00 in a research note on Wednesday. TheStreet downgraded Skechers USA from a “b” rating to a “c+” rating in a research note on Tuesday, May 17. Finally, Deutsche Bank Aktiengesellschaft lowered its price target on Skechers USA from $62.00 to $61.00 in a report on Monday, April 25.
Skechers USA down 0.6%
NYSE SKX opened at $38.28 on Friday. The company’s 50-day moving average is $37.63 and its 200-day moving average is $40.18. Skechers USA has a one-year minimum of $33.50 and a one-year maximum of $55.87. The stock has a market cap of $5.97 billion, a P/E ratio of 7.86 and a beta of 1.32. The firm has a debt-to-equity ratio of 0.07, a current ratio of 2.44, and a quick ratio of 1.41.
Skechers USA (NYSE: SKX – get rating) last posted its earnings results on Tuesday, April 26. The textile maker reported earnings per share of $0.77 for the quarter, beating analyst consensus estimates of $0.72 by $0.05. Skechers USA had a return on equity of 12.94% and a net margin of 11.45%. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same quarter of the previous year, the company earned $0.63 EPS. Stock research analysts predict that Skechers USA will post 2.86 EPS for the current year.
Institutional investors weigh in on Skechers USA
Institutional investors and hedge funds have recently bought and sold shares of the company. Massachusetts Financial Services Co. MA increased its stake in Skechers USA stock by 9.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 7,467,603 shares of the textile manufacturer valued at $304,379,000 after acquiring an additional 621,640 shares during the period. Pzena Investment Management LLC increased its stake in Skechers USA by 42.9% in the first quarter. Pzena Investment Management LLC now owns 6,904,844 shares of the textile manufacturer worth $281,441,000 after purchasing an additional 2,071,445 shares during the period. Marshall Wace LLP increased its stake in Skechers USA by 121.9% in the fourth quarter. Marshall Wace LLP now owns 5,450,266 shares of the textile manufacturer worth $236,541,000 after purchasing an additional 2,994,421 shares during the period. State Street Corp increased its stake in Skechers USA by 3.0% during the fourth quarter. State Street Corp now owns 4,798,954 shares of the textile maker worth $208,275,000 after buying an additional 141,675 shares last quarter. Finally, Theleme Partners LLP purchased a new stake in Skechers USA stock in the first quarter valued at approximately $94,654,000. 79.71% of the shares are owned by institutional investors.
Skechers USA Company Profile
Skechers U.SA, Inc designs, develops, markets and distributes footwear for men, women and children; and performance footwear for men and women around the world. The company operates through three segments: national wholesaler, international wholesaler and direct to consumer. Offers men’s and women’s casual, athletic casual, athletic sport, trail, sandals, boots and retro fashion footwear under the Skechers USA, Skechers Sport, Skechers Active, Modern Comfort, Skechers Street, Mark Nason and BOBS brands; boys’ and girls’ sneakers, casuals, boots and sandals under the Skechers Mega-Craft, S-Lights, SKECH-AIR, Foamies, Twinkle Toes, Z-Strap, Skechers Stretch Fit and Skechers Street brands; and technical footwear under the Skechers GOrun, Skechers GOwalk, Skechers GOtrain, Skechers GOtrail and Skechers GO Golf brands.
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