Analysts Set Skechers U.S.A., Inc. (NYSE:SKX) Target Price at $76.75

Skechers U.S.A., Inc. (NYSE:SKX) has been assigned an average recommendation of “Buy” from the twelve analysts that are covering the stock, MarketBeat reports. Twelve research analysts have rated the stock with a buy rating. The average 1 year price target among brokerages that have covered the stock in the last year is $76.75.

Several research firms have recently commented on SKX. Morgan Stanley raised Skechers U.S.A. from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $60.00 to $80.00 in a report on Tuesday, July 23rd. Wedbush increased their target price on Skechers U.S.A. from $76.00 to $79.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Stifel Nicolaus boosted their price target on shares of Skechers U.S.A. from $81.00 to $83.00 and gave the company a “buy” rating in a report on Friday, July 26th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $82.00 price objective on shares of Skechers U.S.A. in a report on Thursday, June 13th. Finally, Bank of America raised shares of Skechers U.S.A. from a “neutral” rating to a “buy” rating and boosted their target price for the company from $71.00 to $87.00 in a research note on Friday, June 7th.

Skechers U.S.A. Stock Performance

Skechers U.S.A. stock opened at $64.86 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.06 and a quick ratio of 1.33. Skechers U.S.A. has a 12 month low of $45.58 and a 12 month high of $75.09. The company has a fifty day moving average price of $65.52 and a two-hundred day moving average price of $65.12. The company has a market cap of $9.89 billion, a PE ratio of 17.07, a P/E/G ratio of 0.91 and a beta of 1.23.

Skechers U.S.A. (NYSE:SKX) last posted its quarterly earnings results on Thursday, July 25th. The textile maker reported $0.91 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.04). The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.24 billion. Skechers U.S.A. had a net margin of 6.90% and a return on equity of 13.04%. The company’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period last year, the firm posted $0.98 earnings per share. Research analysts expect that Skechers U.S.A. will post 4.17 earnings per share for the current year.

Institutional Trading of Skechers U.S.A.

A number of hedge funds and other institutional investors have recently modified their holdings of SKX. Redmont Wealth Advisors LLC bought a new stake in shares of Skechers U.S.A. in the 1st quarter worth approximately $25,000. Bessemer Group Inc. lifted its position in shares of Skechers U.S.A. by 66.7% during the 1st 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 acquired a new stake in shares of Skechers U.S.A. during the 1st quarter valued at $43,000. Versant Capital Management Inc grew 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 shares of Skechers U.S.A. in the 1st quarter worth $45,000. Institutional investors 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.