Skechers USA, Inc. (NYSE: SKX) receives an average ‘Moderate Buy’ recommendation from analysts
Skechers USA, Inc. (NYSE: SKX – Get a rating) received an average recommendation of “moderate buy” by the eleven research companies that currently cover the business, market beat reports. One investment analyst gave the stock a hold rating and six gave the company a buy rating. The average 1-year price target among brokerages that have reported on the stock in the past year is $55.17.
Several analysts have recently released reports on SKX shares. Stifel Nicolaus lowered his price target on Skechers USA shares from $61.00 to $45.00 in a research note on Wednesday. StockNews.com began covering Skechers USA shares in a research note on Thursday, March 31. They set a “holding” rating for the company. TheStreet upgraded Skechers USA shares from a “b” rating to a “c+” rating in a Tuesday, May 17 research note. UBS Group lowered its price target on Skechers USA shares from $67.00 to $56.00 in a Friday July 15 research note. Finally, OTR Global upgraded Skechers USA shares from a “mixed” rating to a “positive” rating in a Tuesday, April 5 research note.
Skechers USA Institutional Negotiation
A number of institutional investors have recently increased or reduced their stake in SKX. Marshall Wace LLP increased its position in Skechers USA by 121.9% during the 4th quarter. Marshall Wace LLP now owns 5,450,266 shares of the textile maker worth $236,541,000 after purchasing an additional 2,994,421 shares during the period. Theleme Partners LLP acquired a new stake in Skechers USA during the 1st quarter at a value of $94,654,000. Pzena Investment Management LLC strengthened its position in Skechers USA by 42.9% in the 1st quarter. Pzena Investment Management LLC now owns 6,904,844 shares of the textile maker worth $281,441,000 after purchasing an additional 2,071,445 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Skechers USA by 11.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 6,845,963 shares of the textile maker worth $297,115,000 after buying an additional 711,341 shares last quarter. Finally, Point72 Asset Management LP acquired a new position in Skechers USA in Q4 worth $26,759,000. 79.71% of the shares are held by hedge funds and other institutional investors.
Skechers USA Stock down 0.6%
SKX Stock opened at $38.28 on Friday. The stock has a market capitalization of $5.97 billion, a P/E ratio of 7.86 and a beta of 1.32. The company has a debt ratio of 0.07, a quick ratio of 1.41 and a current ratio of 2.44. Skechers USA has a one-year low of $33.50 and a one-year high of $55.87. The company has a 50-day moving average price of $37.63 and a two-hundred-day moving average price of $40.18.
Skechers United States (NYSE: SKX – Get a rating) last released its results on Tuesday, April 26. The textile maker reported EPS of $0.77 for the quarter, beating the consensus estimate of $0.72 by $0.05. The company posted revenue of $1.82 billion in the quarter, versus $1.69 billion expected by analysts. Skechers USA had a net margin of 11.45% and a return on equity of 12.94%. During the same period of the previous year, the company achieved EPS of $0.63. As a group, sell-side analysts expect Skechers USA to post 2.86 EPS for the current year.
About Skechers Canada
Skechers U.SA, Inc designs, develops, markets and distributes footwear for men, women and children; and performance footwear for men and women worldwide. The Company operates through three segments: Domestic Wholesale, International Wholesale and Direct-to-Consumer. It offers casual, athletic casual, athletic, trail shoes, sandals, boots and retro fashion shoes for men and women under the brands Skechers USA, Skechers Sport, Skechers Active, Modern Comfort, Skechers Street, Mark Nason and BOBS; sneakers, casual shoes, boots and sandals for boys and girls under the brands Skechers Mega-Craft, S-Lights, SKECH-AIR, Foamies, Twinkle Toes, Z-Strap, Skechers Stretch Fit and Skechers Street; and technical footwear under the Skechers GOrun, Skechers GOwalk, Skechers GOtrain, Skechers GOtrail and Skechers GO Golf brands.
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