Needham & Company LLC Begins Coverage on Skechers U.S.A. (NYSE:SKX)

Research analysts at Needham & Company LLC began coverage on shares of Skechers U.S.A. (NYSE:SKX) in a research report issued to clients and investors on Friday, Marketbeat Ratings reports. The firm set a “hold” rating on the textile maker’s stock.

A number of other research analysts have also issued reports on SKX. Barclays upped their target price on shares of Skechers U.S.A. from $79.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. StockNews.com raised Skechers U.S.A. from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. TD Cowen lowered their target price on Skechers U.S.A. from $78.00 to $76.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Stifel Nicolaus boosted their price target on Skechers U.S.A. from $81.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, Bank of America lowered their price target on 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. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Skechers U.S.A. has a consensus rating of “Moderate Buy” and a consensus price target of $78.09.

Skechers U.S.A. Trading Up 1.1 %

Shares of NYSE SKX opened at $61.69 on Friday. Skechers U.S.A. has a 12-month low of $54.95 and a 12-month high of $75.09. The company has a market cap of $9.31 billion, a price-to-earnings ratio of 15.19, a price-to-earnings-growth ratio of 0.85 and a beta of 1.23. The company has a current ratio of 1.96, a quick ratio of 1.25 and a debt-to-equity ratio of 0.01. The stock’s 50 day simple moving average is $63.61 and its 200 day simple moving average is $66.24.

Skechers U.S.A. (NYSE:SKX) last posted its earnings results on Thursday, October 24th. The textile maker reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.11. The company had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Skechers U.S.A. had a return on equity of 13.71% and a net margin of 7.19%. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period last year, the business posted $0.93 earnings per share. Equities research analysts expect that Skechers U.S.A. will post 4.25 EPS for the current year.

Institutional Trading of Skechers U.S.A.

Several institutional investors have recently modified their holdings of the company. Bessemer Group Inc. raised its position in Skechers U.S.A. by 66.7% in the first quarter. Bessemer Group Inc. now owns 410 shares of the textile maker’s stock worth $25,000 after acquiring an additional 164 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of Skechers U.S.A. by 4.7% in the 2nd quarter. CIBC Asset Management Inc now owns 3,820 shares of the textile maker’s stock worth $264,000 after purchasing an additional 173 shares during the last quarter. Lindenwold Advisors INC raised its holdings in shares of Skechers U.S.A. by 3.0% in the 3rd quarter. Lindenwold Advisors INC now owns 6,663 shares of the textile maker’s stock worth $446,000 after purchasing an additional 195 shares in the last quarter. X Square Capital LLC lifted its stake in Skechers U.S.A. by 0.5% during the second quarter. X Square Capital LLC now owns 40,903 shares of the textile maker’s stock valued at $2,827,000 after purchasing an additional 215 shares during the last quarter. Finally, Edgestream Partners L.P. boosted its holdings in Skechers U.S.A. by 2.8% during the third quarter. Edgestream Partners L.P. now owns 8,762 shares of the textile maker’s stock worth $586,000 after buying an additional 236 shares in the last quarter. Institutional investors and hedge funds own 79.96% 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 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.