Skechers U.S.A., Inc. (NYSE:SKX) Receives $66.75 Consensus Price Target from Brokerages

Key Points

• Skechers U.S.A., Inc. has received a consensus recommendation of "Hold" from analysts, with eight analysts recommending hold and five recommending buy.
• The average target price for Skechers stock is $66.75, although some analysts have adjusted their ratings and targets lower, with Evercore ISI lowering theirs from $78.00 to $60.00.
• Skechers reported a quarterly earnings of $1.34 EPS, exceeding analysts' expectations of $1.17 EPS, while year-over-year revenue increased by 7.1%.

Skechers U.S.A., Inc. (NYSE:SKX - Get Free Report) has been assigned an average recommendation of "Hold" from the thirteen ratings firms that are covering the stock, MarketBeat Ratings reports. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $66.75.

A number of analysts recently issued reports on the stock. Monness Crespi & Hardt downgraded shares of Skechers U.S.A. from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 7th. Evercore ISI reduced 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. Wall Street Zen began coverage on shares of Skechers U.S.A. in a research note on Thursday, May 22nd. They issued a "sell" rating for the company. Needham & Company LLC reaffirmed a "hold" rating on shares of Skechers U.S.A. in a research note on Tuesday, April 22nd. Finally, Barclays reaffirmed an "equal weight" rating and set a $63.00 price objective (up previously from $53.00) on shares of Skechers U.S.A. in a research note on Tuesday, May 6th.

Skechers U.S.A. Stock Down 0.1%

Shares of SKX traded down $0.04 during trading hours on Monday, reaching $63.22. 756,927 shares of the stock traded hands, compared to its average volume of 4,700,482. The company has a current ratio of 2.13, a quick ratio of 1.28 and a debt-to-equity ratio of 0.02. The stock has a fifty day simple moving average of $62.73 and a 200 day simple moving average of $60.96. Skechers U.S.A. has a 52 week low of $44.50 and a 52 week high of $78.85. The company has a market cap of $9.46 billion, a price-to-earnings ratio of 15.20 and a beta of 1.12.

Institutional Investors Weigh In On Skechers U.S.A.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. HB Wealth Management LLC grew its holdings in shares of Skechers U.S.A. by 4.3% in the first quarter. HB Wealth Management LLC now owns 4,107 shares of the textile maker's stock valued at $233,000 after purchasing an additional 168 shares in the last quarter. Cim LLC grew its holdings in shares of Skechers U.S.A. by 0.9% in the first quarter. Cim LLC now owns 19,440 shares of the textile maker's stock valued at $1,104,000 after purchasing an additional 169 shares in the last quarter. Cerity Partners LLC grew its holdings in shares of Skechers U.S.A. by 1.2% in the fourth quarter. Cerity Partners LLC now owns 14,090 shares of the textile maker's stock valued at $947,000 after purchasing an additional 172 shares in the last quarter. National Bank of Canada FI grew its holdings in shares of Skechers U.S.A. by 8.5% in the first quarter. National Bank of Canada FI now owns 2,400 shares of the textile maker's stock valued at $136,000 after purchasing an additional 189 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its position in Skechers U.S.A. by 85.2% in the fourth quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker's stock worth $28,000 after buying an additional 190 shares during the last quarter. 79.96% of the stock is 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.