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

Key Points

• Skechers U.S.A. has received an average recommendation of "Hold" from analysts, with eight firms rating the stock as a hold and five as a buy.
• Recent earnings exceeded expectations, with the company reporting $1.13 earnings per share against an estimated $0.86, and revenue of $2.44 billion compared to the expected $2.35 billion.
• Institutional investors hold approximately 79.96% of Skechers U.S.A.'s stock, with significant recent boosts in holdings from several hedge funds.

Skechers U.S.A., Inc. (NYSE:SKX - Get Free Report) has been given a consensus rating of "Hold" by the fourteen brokerages that are currently covering the stock, Marketbeat.com reports. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $66.4615.

A number of equities research analysts have recently issued reports on SKX shares. Morgan Stanley reissued an "equal weight" rating and issued a $63.00 price target (down from $73.00) on shares of Skechers U.S.A. in a research note on Wednesday, May 7th. Barclays reissued an "equal weight" rating and issued a $63.00 price target (up from $53.00) on shares of Skechers U.S.A. in a research note on Tuesday, May 6th. Wells Fargo & Company boosted their price target on shares of Skechers U.S.A. from $57.00 to $63.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. UBS Group reissued a "neutral" rating and issued a $63.00 price target (down from $64.00) on shares of Skechers U.S.A. in a research note on Tuesday, May 6th. Finally, TD Cowen downgraded shares of Skechers U.S.A. from a "buy" rating to a "hold" rating and set a $63.00 target price on the stock. in a research note on Wednesday, May 28th.

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

Several large investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. increased its stake 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 buying an additional 3,924,962 shares during the period. Fiduciary Management Inc. WI increased its stake in Skechers U.S.A. by 12.9% during the 1st quarter. Fiduciary Management Inc. WI now owns 2,833,785 shares of the textile maker's stock worth $160,902,000 after buying an additional 324,007 shares during the period. Dimensional Fund Advisors LP increased its stake in Skechers U.S.A. by 26.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,795,753 shares of the textile maker's stock worth $158,739,000 after buying an additional 583,733 shares during the period. Bank of New York Mellon Corp increased its stake in Skechers U.S.A. by 7.6% during the 1st quarter. Bank of New York Mellon Corp now owns 2,482,980 shares of the textile maker's stock worth $140,984,000 after buying an additional 174,697 shares during the period. Finally, Nomura Holdings Inc. purchased a new stake in Skechers U.S.A. during the 2nd quarter worth approximately $140,963,000. 79.96% of the stock is owned by hedge funds and other institutional investors.

Skechers U.S.A. Trading Down 0.0%

Shares of Skechers U.S.A. stock traded down $0.01 on Friday, reaching $63.03. The company had a trading volume of 1,938,860 shares, compared to its average volume of 2,998,452. The firm's 50 day moving average price is $63.05 and its two-hundred day moving average price is $59.55. The firm has a market cap of $9.47 billion, a PE ratio of 14.39 and a beta of 1.16. Skechers U.S.A. has a 52-week low of $44.50 and a 52-week high of $78.85. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.29 and a current ratio of 2.09.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last released its quarterly earnings results on Friday, August 8th. The textile maker reported $1.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.86 by $0.27. The business had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.35 billion. Skechers U.S.A. had a net margin of 7.07% and a return on equity of 13.44%. The business's revenue was up 13.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.91 EPS. Sell-side analysts predict that Skechers U.S.A. will post 4.47 earnings per share for the current fiscal year.

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.