Skechers U.S.A., Inc. (NYSE:SKX) Receives Average Recommendation of "Hold" from Analysts

Skechers U.S.A., Inc. (NYSE:SKX - Get Free Report) has been given an average rating of "Hold" by the fourteen analysts that are covering the company, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $67.69.

A number of research firms have recently commented on SKX. Monness Crespi & Hardt downgraded Skechers U.S.A. from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 7th. Needham & Company LLC reiterated a "hold" rating on shares of Skechers U.S.A. in a report on Tuesday, April 22nd. Evercore ISI dropped their price target on Skechers U.S.A. from $78.00 to $60.00 and set an "outperform" rating on the stock in a research note on Thursday, April 17th. UBS Group restated a "neutral" rating and set a $63.00 price target (down previously from $64.00) on shares of Skechers U.S.A. in a research note on Tuesday, May 6th. Finally, Raymond James Financial downgraded Skechers U.S.A. from a "moderate buy" rating to a "hold" rating in a research note on Monday, May 5th.

Skechers U.S.A. Stock Up 0.0%

Shares of SKX traded up $0.02 during mid-day trading on Thursday, reaching $63.27. The company's stock had a trading volume of 2,074,270 shares, compared to its average volume of 3,554,085. Skechers U.S.A. has a 12-month low of $44.50 and a 12-month 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 company has a debt-to-equity ratio of 0.02, a current ratio of 2.13 and a quick ratio of 1.28. The company's 50 day moving average is $60.91 and its 200 day moving average is $61.54.

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

Institutional Trading of Skechers U.S.A.

A number of hedge funds have recently added to or reduced their stakes in SKX. Victory Capital Management Inc. lifted its position 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 worth $224,272,000 after acquiring an additional 3,924,962 shares during the period. Norges Bank acquired a new stake in shares of Skechers U.S.A. in the 4th quarter valued at approximately $105,741,000. Duquesne Family Office LLC acquired a new stake in shares of Skechers U.S.A. in the 4th quarter valued at approximately $72,272,000. Two Sigma Investments LP lifted its holdings in shares of Skechers U.S.A. by 772.7% in the 4th quarter. Two Sigma Investments LP now owns 1,176,488 shares of the textile maker's stock valued at $79,107,000 after buying an additional 1,041,677 shares during the period. Finally, Anomaly Capital Management LP lifted its holdings in shares of 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 buying an additional 1,011,815 shares during the period. 79.96% of the stock is owned by institutional investors and hedge funds.

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.