Equities research analysts at StockNews.com began coverage on shares of Skechers U.S.A. (NYSE:SKX – Get Free Report) in a research note issued to investors on Thursday. The firm set a “buy” rating on the textile maker’s stock.
Other equities analysts have also issued research reports about the company. Morgan Stanley raised their price objective on Skechers U.S.A. from $48.00 to $49.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 29th. Stifel Nicolaus raised their price objective on Skechers U.S.A. from $59.00 to $62.00 and gave the stock a “buy” rating in a report on Friday, July 28th. Deutsche Bank Aktiengesellschaft raised their price objective on Skechers U.S.A. from $57.00 to $62.00 and gave the stock a “buy” rating in a report on Friday, July 28th. Raymond James increased their target price on shares of Skechers U.S.A. from $58.00 to $59.00 and gave the stock an “outperform” rating in a research note on Friday, July 28th. Finally, Wedbush reiterated an “outperform” rating and set a $59.00 target price on shares of Skechers U.S.A. in a research note on Thursday, August 10th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $59.33.
View Our Latest Stock Analysis on Skechers U.S.A.
Skechers U.S.A. Stock Performance
NYSE:SKX opened at $47.97 on Thursday. The firm has a market capitalization of $7.42 billion, a PE ratio of 15.83, a price-to-earnings-growth ratio of 0.51 and a beta of 1.32. The business’s fifty day moving average price is $50.39 and its 200 day moving average price is $50.67. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.48 and a quick ratio of 1.48. Skechers U.S.A. has a 12 month low of $32.01 and a 12 month high of $56.53.
Skechers U.S.A. (NYSE:SKX – Get Free Report) last posted its earnings results on Thursday, July 27th. The textile maker reported $0.98 EPS for the quarter, beating the consensus estimate of $0.52 by $0.46. The firm had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.92 billion. Skechers U.S.A. had a return on equity of 11.97% and a net margin of 6.11%. Skechers U.S.A.’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.58 earnings per share. On average, sell-side analysts anticipate that Skechers U.S.A. will post 3.39 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Skechers U.S.A.
A number of hedge funds have recently added to or reduced their stakes in the company. Spire Wealth Management lifted its position in Skechers U.S.A. by 30.1% in the second quarter. Spire Wealth Management now owns 1,021 shares of the textile maker’s stock valued at $54,000 after purchasing an additional 236 shares during the period. SageView Advisory Group LLC lifted its position in shares of Skechers U.S.A. by 2.8% during the 1st quarter. SageView Advisory Group LLC now owns 8,802 shares of the textile maker’s stock valued at $418,000 after acquiring an additional 242 shares during the period. Cascade Investment Advisors Inc. lifted its position in shares of Skechers U.S.A. by 1.3% during the 1st quarter. Cascade Investment Advisors Inc. now owns 19,400 shares of the textile maker’s stock valued at $922,000 after acquiring an additional 255 shares during the period. Inspire Investing LLC lifted its position in shares of Skechers U.S.A. by 4.7% during the 2nd quarter. Inspire Investing LLC now owns 5,962 shares of the textile maker’s stock valued at $314,000 after acquiring an additional 270 shares during the period. Finally, Verity Asset Management Inc. lifted its position in shares of Skechers U.S.A. by 2.0% during the 2nd quarter. Verity Asset Management Inc. now owns 14,054 shares of the textile maker’s stock valued at $740,000 after acquiring an additional 275 shares during the period. Institutional investors and hedge funds own 80.54% 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 two segments, Wholesale and Direct-to-Consumer. It offers casual, casual athletic, sport athletic, trail, sandals, boots, and retro fashion footwear for men and women under the Skechers USA, Skechers Sport, Skechers Active, Modern Comfort, Skechers Street, Foamies, Mark Nason, and BOBS brands; sneakers, casuals, boots, and sandals for boys and girls under the S-Lights, Skech-Air, Foamies, Twinkle Toes, Skechers Stretch Fit, and Skechers Street brands; and technical footwear under the Skechers GOrun, Skechers GOwalk, Skechers GOtrain, Skechers GOtrail, and Skechers GO Golf brands, as well as Skechers Viper Court for pickleball.
Further Reading
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