Skechers USA (SKX) Rating Lowered to Sell at Cfra

Cfra downgraded shares of Skechers USA (NYSE:SKX) from a hold rating to a sell rating in a research report report published on Friday.

A number of other equities analysts have also recently issued reports on SKX. Buckingham Research cut their target price on shares of Skechers USA from $35.00 to $30.00 and set a buy rating on the stock in a report on Wednesday, October 17th. B. Riley set a $45.00 price target on Skechers USA and gave the company a buy rating in a report on Friday, October 19th. Wells Fargo & Co set a $30.00 price target on Skechers USA and gave the company a hold rating in a report on Friday, October 19th. ValuEngine raised Skechers USA from a hold rating to a buy rating in a report on Friday, October 19th. Finally, Zacks Investment Research raised Skechers USA from a strong sell rating to a hold rating in a report on Monday, October 22nd. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $31.95.

Shares of NYSE SKX opened at $32.58 on Friday. The company has a current ratio of 2.91, a quick ratio of 1.89 and a debt-to-equity ratio of 0.04. Skechers USA has a 52-week low of $21.45 and a 52-week high of $43.08. The stock has a market capitalization of $5.04 billion, a price-to-earnings ratio of 16.97, a price-to-earnings-growth ratio of 2.36 and a beta of 0.62.



Skechers USA (NYSE:SKX) last issued its earnings results on Thursday, February 7th. The textile maker reported $0.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.08. Skechers USA had a net margin of 6.49% and a return on equity of 14.08%. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter last year, the company posted $0.21 earnings per share. Skechers USA’s revenue was up 11.4% on a year-over-year basis. As a group, analysts anticipate that Skechers USA will post 1.93 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of SKX. Bank of New York Mellon Corp increased its stake in shares of Skechers USA by 335.3% during the third quarter. Bank of New York Mellon Corp now owns 6,604,345 shares of the textile maker’s stock valued at $184,459,000 after acquiring an additional 5,087,296 shares during the period. Alliancebernstein L.P. increased its stake in shares of Skechers USA by 3,516.2% during the third quarter. Alliancebernstein L.P. now owns 2,903,543 shares of the textile maker’s stock valued at $81,096,000 after acquiring an additional 2,823,250 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in shares of Skechers USA during the fourth quarter valued at approximately $56,133,000. Oregon Public Employees Retirement Fund increased its stake in shares of Skechers USA by 2,192.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,233,771 shares of the textile maker’s stock valued at $54,000 after acquiring an additional 1,179,958 shares during the period. Finally, MARSHALL WACE ASIA Ltd acquired a new position in shares of Skechers USA during the third quarter valued at approximately $30,230,000. Institutional investors and hedge funds own 74.33% of the company’s stock.

Skechers USA Company Profile

Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children; and performance footwear for men and women under the Skechers GO brand worldwide. It operates through three segments: Domestic Wholesale Sales, International Wholesale Sales, and Retail Sales. The company offers casual boots, shoes, and sandals for men; shoes, oxfords and slip-ons, lug outsole and fashion boots, and casual sandals for women; dress casuals, seasonal sandals and boots, classic and wide fit, and relaxed fit casuals for men and women; and casual athletic line for men and women under the Skechers USA brand.

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