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

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

Several research analysts have weighed in on SKX shares. Morgan Stanley reissued an "equal weight" rating and set a $63.00 price objective (down from $73.00) on shares of Skechers U.S.A. in a report on Wednesday, May 7th. Raymond James Financial lowered shares of Skechers U.S.A. from a "moderate buy" rating to a "hold" rating in a report on Monday, May 5th. 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. UBS Group reissued a "neutral" rating and set a $63.00 price objective (down from $64.00) on shares of Skechers U.S.A. in a report on Tuesday, May 6th. Finally, Barclays reissued an "equal weight" rating and set a $63.00 price objective (up from $53.00) on shares of Skechers U.S.A. in a report on Tuesday, May 6th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of SKX. Mariner LLC boosted its holdings in shares of Skechers U.S.A. by 39.7% in the 4th quarter. Mariner LLC now owns 7,200 shares of the textile maker's stock valued at $484,000 after buying an additional 2,045 shares during the period. NewEdge Advisors LLC boosted its holdings in shares of Skechers U.S.A. by 85.2% in the 4th quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker's stock valued at $28,000 after buying an additional 190 shares during the period. First Trust Advisors LP boosted its holdings in shares of Skechers U.S.A. by 13.2% in the 4th quarter. First Trust Advisors LP now owns 313,992 shares of the textile maker's stock valued at $21,113,000 after buying an additional 36,498 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Skechers U.S.A. by 19.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,212,020 shares of the textile maker's stock valued at $148,743,000 after buying an additional 357,681 shares during the period. Finally, MetLife Investment Management LLC boosted its holdings in shares of Skechers U.S.A. by 8.2% in the 4th quarter. MetLife Investment Management LLC now owns 74,687 shares of the textile maker's stock valued at $5,022,000 after buying an additional 5,676 shares during the period. 79.96% of the stock is owned by institutional investors and hedge funds.

Skechers U.S.A. Stock Performance

Shares of SKX stock opened at $62.9950 on Friday. The company's fifty day simple moving average is $63.00 and its 200-day simple moving average is $59.81. Skechers U.S.A. has a 52 week low of $44.50 and a 52 week high of $78.85. The company has a current ratio of 2.09, a quick ratio of 1.29 and a debt-to-equity ratio of 0.02. The company has a market cap of $9.47 billion, a PE ratio of 14.38 and a beta of 1.16.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last announced its quarterly earnings data on Friday, August 8th. The textile maker reported $1.13 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.27. The company had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.35 billion. Skechers U.S.A. had a net margin of 7.07% and a return on equity of 13.44%. The firm's revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period last year, the business earned $0.91 EPS. As a group, equities research analysts anticipate that Skechers U.S.A. will post 4.47 EPS for the current 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.