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

Skechers U.S.A., Inc. (NYSE:SKX) has been given a consensus rating of “Moderate Buy” by the thirteen ratings firms that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $77.00.

SKX has been the topic of several recent analyst reports. Bank of America decreased their target price on shares of Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Needham & Company LLC started coverage on shares of Skechers U.S.A. in a research report on Friday, November 22nd. They set a “hold” rating on the stock. Piper Sandler assumed coverage on shares of Skechers U.S.A. in a research report on Tuesday, December 10th. They set a “neutral” rating and a $65.00 price objective for the company. StockNews.com raised Skechers U.S.A. from a “hold” rating to a “buy” rating in a report on Thursday. Finally, TD Cowen lowered their price target on Skechers U.S.A. from $78.00 to $76.00 and set a “buy” rating for the company in a report on Monday, October 14th.

Skechers U.S.A. Stock Up 2.1 %

SKX opened at $67.65 on Friday. The stock has a fifty day moving average of $64.18 and a 200-day moving average of $66.09. The company has a market capitalization of $10.21 billion, a P/E ratio of 16.66, a P/E/G ratio of 0.98 and a beta of 1.22. Skechers U.S.A. has a fifty-two week low of $55.67 and a fifty-two week high of $75.09. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.25 and a current ratio of 1.96.

Skechers U.S.A. (NYSE:SKX) last announced its earnings results on Thursday, October 24th. The textile maker reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.11. Skechers U.S.A. had a net margin of 7.19% and a return on equity of 13.71%. The firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the prior year, the business posted $0.93 EPS. The business’s revenue was up 16.0% compared to the same quarter last year. On average, equities analysts expect that Skechers U.S.A. will post 4.24 EPS for the current year.

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

Several hedge funds and other institutional investors have recently bought and sold shares of SKX. Pacer Advisors Inc. raised its position in shares of Skechers U.S.A. by 5,780.6% in the 3rd quarter. Pacer Advisors Inc. now owns 2,639,390 shares of the textile maker’s stock worth $176,628,000 after acquiring an additional 2,594,507 shares in the last quarter. Geode Capital Management LLC grew its stake in Skechers U.S.A. by 0.5% during the third quarter. Geode Capital Management LLC now owns 2,216,905 shares of the textile maker’s stock worth $148,395,000 after purchasing an additional 11,026 shares during the period. Dimensional Fund Advisors LP increased its holdings in Skechers U.S.A. by 3.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,885,723 shares of the textile maker’s stock worth $130,350,000 after purchasing an additional 55,095 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Skechers U.S.A. by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,316,882 shares of the textile maker’s stock valued at $88,126,000 after buying an additional 17,429 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in shares of Skechers U.S.A. by 39.0% during the 3rd quarter. Wellington Management Group LLP now owns 1,025,556 shares of the textile maker’s stock worth $68,630,000 after buying an additional 287,939 shares in 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.