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

Shares of Skechers U.S.A., Inc. (NYSE:SKX - Get Free Report) have earned a consensus rating of "Hold" from the fourteen analysts that are presently covering the company, Marketbeat reports. Eight analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $67.69.

SKX has been the topic of several recent analyst reports. Bank of America decreased their price target on Skechers U.S.A. from $76.00 to $70.00 and set a "buy" rating on the stock in a research note on Monday, March 24th. TD Cowen lowered Skechers U.S.A. from a "buy" rating to a "hold" rating and set a $63.00 price target on the stock. in a research note on Wednesday, May 28th. Monness Crespi & Hardt lowered Skechers U.S.A. from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Evercore ISI decreased their price target on Skechers U.S.A. from $78.00 to $60.00 and set an "outperform" rating on the stock in a research note on Thursday, April 17th. Finally, Raymond James lowered Skechers U.S.A. from a "moderate buy" rating to a "hold" rating in a research note on Monday, May 5th.

Skechers U.S.A. Stock Performance

Shares of SKX traded up $0.02 on Friday, reaching $62.60. 4,839,379 shares of the stock traded hands, compared to its average volume of 3,338,491. The firm has a market cap of $9.36 billion, a price-to-earnings ratio of 15.08, a P/E/G ratio of 1.11 and a beta of 1.13. 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 12 month low of $44.50 and a 12 month high of $78.85. The stock's 50-day moving average price is $55.69 and its 200-day moving average price is $62.17.

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

Hedge Funds Weigh In On Skechers U.S.A.

Several large investors have recently made changes to their positions in the company. Spire Wealth Management lifted its stake in shares of Skechers U.S.A. by 11.6% during the fourth quarter. Spire Wealth Management now owns 1,486 shares of the textile maker's stock valued at $100,000 after acquiring an additional 155 shares during the period. HB Wealth Management LLC increased its holdings in 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 during the last quarter. Cim LLC increased its holdings in 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 during the last quarter. Cerity Partners LLC increased its holdings in 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 during the last quarter. Finally, National Bank of Canada FI increased its holdings in 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 during the last quarter. Institutional investors and hedge funds 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.