Skechers U.S.A., Inc. (NYSE:SKX) Given Average Rating of "Hold" by Brokerages

Key Points

• Skechers U.S.A., Inc. has received an average recommendation of "Hold" from analysts, with nine hold ratings, five buy ratings, and one strong buy rating among the fifteen firms covering the stock.
• The current 12-month target price for Skechers U.S.A. among brokerages is $66.46, reflecting investor expectations for future performance.
• The company reported a revenue increase of 13.1% year-over-year, with earnings per share of $1.13, surpassing analysts' estimates by $0.27.

Shares of Skechers U.S.A., Inc. (NYSE:SKX - Get Free Report) have earned an average rating of "Hold" from the fifteen research firms that are covering the firm, MarketBeat Ratings reports. Nine research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $66.4615.

Several equities analysts have weighed in on SKX shares. Wall Street Zen raised Skechers U.S.A. to a "hold" rating in a research note on Saturday, August 30th. Zacks Research raised Skechers U.S.A. from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 26th. Needham & Company LLC reaffirmed a "hold" rating on shares of Skechers U.S.A. in a research note on Wednesday, August 27th. TD Cowen cut Skechers U.S.A. from a "buy" rating to a "hold" rating and set a $63.00 price target for the company. in a research note on Wednesday, May 28th. Finally, Argus cut Skechers U.S.A. from a "buy" rating to a "hold" rating and set a $63.00 price target for the company. in a research note on Tuesday, August 26th.

Skechers U.S.A. Stock Performance

NYSE:SKX remained flat at $63.13 on Tuesday. The company has a current ratio of 2.09, a quick ratio of 1.29 and a debt-to-equity ratio of 0.02. Skechers U.S.A. has a 1 year low of $44.50 and a 1 year high of $78.85. The firm has a fifty day moving average price of $63.09 and a two-hundred day moving average price of $59.57. The stock has a market capitalization of $9.49 billion, a price-to-earnings ratio of 14.41 and a beta of 1.19.

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

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

Large investors have recently made changes to their positions in the company. Banque Transatlantique SA bought a new stake in shares of Skechers U.S.A. in the 1st quarter valued at approximately $26,000. Hantz Financial Services Inc. grew its stake in shares of Skechers U.S.A. by 297.5% in the 2nd quarter. Hantz Financial Services Inc. now owns 477 shares of the textile maker's stock valued at $30,000 after buying an additional 357 shares in the last quarter. Investment Management Corp VA ADV acquired a new stake in Skechers U.S.A. in the 4th quarter worth approximately $32,000. Parallel Advisors LLC boosted its position in Skechers U.S.A. by 183.0% during the first quarter. Parallel Advisors LLC now owns 617 shares of the textile maker's stock worth $35,000 after purchasing an additional 399 shares during the period. Finally, Golden State Wealth Management LLC bought a new stake in Skechers U.S.A. during the first quarter worth approximately $35,000. Institutional investors own 79.96% of the company's stock.

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.