Skechers U.S.A., Inc. (NYSE:SKX) Receives Consensus Rating of "Hold" from Brokerages

Shares of Skechers U.S.A., Inc. (NYSE:SKX - Get Free Report) have been assigned an average rating of "Hold" from the fourteen ratings firms that are covering the firm, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $67.69.

SKX has been the topic of several recent analyst reports. Needham & Company LLC reissued a "hold" rating on shares of Skechers U.S.A. in a research note on Tuesday, April 22nd. Bank of America dropped their price objective on Skechers U.S.A. from $76.00 to $70.00 and set a "buy" rating for the company in a report on Monday, March 24th. Stifel Nicolaus reduced their target price on Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Morgan Stanley restated an "equal weight" rating and set a $63.00 target price (down previously from $73.00) on shares of Skechers U.S.A. in a report on Wednesday, May 7th. Finally, Evercore ISI reduced their price objective on shares of Skechers U.S.A. from $78.00 to $60.00 and set an "outperform" rating on the stock in a research report on Thursday, April 17th.

Skechers U.S.A. Trading Down 0.0%

Shares of Skechers U.S.A. stock opened at $62.11 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12. Skechers U.S.A. has a 1 year low of $44.50 and a 1 year high of $78.85. The firm has a market cap of $9.29 billion, a PE ratio of 14.97, a PEG ratio of 1.11 and a beta of 1.13. The company has a 50 day simple moving average of $55.36 and a two-hundred day simple moving average of $62.15.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The textile maker reported $1.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.17 by $0.17. The company had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.43 billion. Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. The firm's revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.33 EPS. Analysts expect that Skechers U.S.A. will post 4.47 earnings per share for the current fiscal year.

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

Several hedge funds have recently bought and sold shares of SKX. Banque Transatlantique SA bought a new stake in Skechers U.S.A. during the first quarter worth about $26,000. NewEdge Advisors LLC boosted its stake in Skechers U.S.A. by 85.2% during the fourth quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker's stock worth $28,000 after acquiring an additional 190 shares in the last quarter. TD Private Client Wealth LLC raised its holdings in Skechers U.S.A. by 534.3% in the fourth quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker's stock worth $29,000 after buying an additional 358 shares during the last quarter. Investment Management Corp VA ADV purchased a new position in Skechers U.S.A. in the fourth quarter worth about $32,000. Finally, Parallel Advisors LLC raised its holdings in Skechers U.S.A. by 183.0% in the first quarter. Parallel Advisors LLC now owns 617 shares of the textile maker's stock worth $35,000 after buying an additional 399 shares during the last quarter. Institutional investors own 79.96% of the company's stock.

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.

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