Skechers U.S.A., Inc. (NYSE:SKX) Receives $67.69 Average PT from Analysts

Shares of Skechers U.S.A., Inc. (NYSE:SKX - Get Free Report) have earned a consensus rating of "Hold" from the fourteen research firms that are presently covering the stock, MarketBeat Ratings reports. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $67.69.

A number of equities analysts have weighed in on SKX shares. UBS Group reiterated a "neutral" rating and set a $63.00 price objective (down previously from $64.00) on shares of Skechers U.S.A. in a research note on Tuesday, May 6th. Wall Street Zen initiated coverage on Skechers U.S.A. in a research report on Thursday, May 22nd. They set a "sell" rating for the company. Morgan Stanley restated an "equal weight" rating and issued a $63.00 price objective (down previously from $73.00) on shares of Skechers U.S.A. in a research report on Wednesday, May 7th. Monness Crespi & Hardt lowered shares of Skechers U.S.A. from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 7th. Finally, Evercore ISI decreased their target price on shares of Skechers U.S.A. from $78.00 to $60.00 and set an "outperform" rating for the company in a research note on Thursday, April 17th.

Skechers U.S.A. Stock Performance

SKX stock traded up $0.02 during midday trading on Thursday, reaching $63.27. The stock had a trading volume of 2,074,270 shares, compared to its average volume of 3,538,015. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.28 and a current ratio of 2.13. Skechers U.S.A. has a 52-week low of $44.50 and a 52-week high of $78.85. The stock has a market cap of $9.47 billion, a PE ratio of 15.21 and a beta of 1.12. The firm has a fifty day simple moving average of $60.35 and a two-hundred day simple moving average of $61.64.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The textile maker reported $1.34 EPS for the quarter, beating the consensus estimate of $1.17 by $0.17. The business had revenue of $2.41 billion during the quarter, compared to analysts' expectations of $2.43 billion. Skechers U.S.A. had a net margin of 6.96% and a return on equity of 13.34%. The business's quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.33 EPS. As a group, equities research analysts anticipate that Skechers U.S.A. will post 4.47 EPS for the current year.

Institutional Trading of Skechers U.S.A.

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Skechers U.S.A. by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 12,544,233 shares of the textile maker's stock worth $843,474,000 after purchasing an additional 82,143 shares during the period. Victory Capital Management Inc. boosted its holdings in Skechers U.S.A. by 15,774.3% during the 1st quarter. Victory Capital Management Inc. now owns 3,949,844 shares of the textile maker's stock valued at $224,272,000 after acquiring an additional 3,924,962 shares during the period. Anomaly Capital Management LP grew its position in Skechers U.S.A. by 51.2% in the 4th quarter. Anomaly Capital Management LP now owns 2,989,015 shares of the textile maker's stock valued at $200,981,000 after acquiring an additional 1,011,815 shares in the last quarter. Fiduciary Management Inc. WI increased its stake in Skechers U.S.A. by 12.9% during the first quarter. Fiduciary Management Inc. WI now owns 2,833,785 shares of the textile maker's stock worth $160,902,000 after purchasing an additional 324,007 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Skechers U.S.A. by 26.4% during the first quarter. Dimensional Fund Advisors LP now owns 2,795,753 shares of the textile maker's stock worth $158,739,000 after purchasing an additional 583,733 shares during the period. 79.96% of the stock is currently owned by hedge funds and other 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.