Skechers U.S.A., Inc. (NYSE:SKX) Receives Average Recommendation of “Buy” from Analysts

Shares of Skechers U.S.A., Inc. (NYSE:SKX) have been given a consensus rating of “Buy” by the twelve analysts that are covering the firm, MarketBeat Ratings reports. Twelve research analysts have rated the stock with a buy recommendation. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $76.75.

Several equities analysts have recently weighed in on the company. Wells Fargo & Company began coverage on Skechers U.S.A. in a research report on Wednesday, June 12th. They issued an “overweight” rating and a $83.00 target price on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $82.00 price objective on shares of Skechers U.S.A. in a report on Thursday, June 13th. Barclays upped their target price on shares of Skechers U.S.A. from $78.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Morgan Stanley raised shares of Skechers U.S.A. from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $60.00 to $80.00 in a research note on Tuesday, July 23rd. Finally, Bank of America raised shares of Skechers U.S.A. from a “neutral” rating to a “buy” rating and upped their price objective for the company from $71.00 to $87.00 in a research note on Friday, June 7th.

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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SKX. Redmont Wealth Advisors LLC purchased a new position in shares of Skechers U.S.A. during the 1st quarter worth $25,000. Bessemer Group Inc. increased its position in shares of Skechers U.S.A. by 66.7% during the first quarter. Bessemer Group Inc. now owns 410 shares of the textile maker’s stock valued at $25,000 after acquiring an additional 164 shares during the last quarter. Game Plan Financial Advisors LLC purchased a new stake in shares of Skechers U.S.A. in the 1st quarter valued at approximately $43,000. Versant Capital Management Inc lifted its holdings in shares of Skechers U.S.A. by 2,809.1% in the 2nd quarter. Versant Capital Management Inc now owns 640 shares of the textile maker’s stock worth $44,000 after acquiring an additional 618 shares during the last quarter. Finally, Sunbelt Securities Inc. acquired a new position in Skechers U.S.A. during the first quarter worth $45,000. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Skechers U.S.A. Price Performance

Shares of NYSE SKX opened at $66.36 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 2.06. The firm has a market cap of $10.11 billion, a PE ratio of 17.46, a PEG ratio of 0.91 and a beta of 1.23. Skechers U.S.A. has a one year low of $45.58 and a one year high of $75.09. The firm has a fifty day moving average of $65.47 and a 200 day moving average of $65.13.

Skechers U.S.A. (NYSE:SKX) last released its earnings results on Thursday, July 25th. The textile maker reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.04). The company had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Skechers U.S.A. had a return on equity of 13.04% and a net margin of 6.90%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.98 EPS. As a group, research analysts predict that Skechers U.S.A. will post 4.17 EPS for the current fiscal 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.