Skechers U.S.A., Inc. (NYSE:SKX) Receives $77.00 Average PT from Analysts

Skechers U.S.A., Inc. (NYSE:SKX) has been assigned an average recommendation of “Moderate Buy” from the thirteen brokerages that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $77.00.

Several research analysts have weighed in on the stock. Piper Sandler assumed coverage on shares of Skechers U.S.A. in a report on Tuesday, December 10th. They set a “neutral” rating and a $65.00 price objective on the stock. Barclays raised their price target on shares of Skechers U.S.A. from $79.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Morgan Stanley boosted their price objective on Skechers U.S.A. from $81.00 to $84.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. StockNews.com upgraded Skechers U.S.A. from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Needham & Company LLC assumed coverage on Skechers U.S.A. in a research report on Friday, November 22nd. They issued a “hold” rating for the company.

Skechers U.S.A. Stock Performance

Shares of SKX opened at $67.65 on Friday. Skechers U.S.A. has a one year low of $55.67 and a one year high of $75.09. The company has a market cap of $10.21 billion, a PE ratio of 16.66, a P/E/G ratio of 0.98 and a beta of 1.22. The stock has a 50-day moving average of $64.18 and a 200-day moving average of $66.09. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.96 and a quick ratio of 1.25.

Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings data on Thursday, October 24th. The textile maker reported $1.26 EPS for the quarter, beating the consensus estimate of $1.15 by $0.11. Skechers U.S.A. had a return on equity of 13.71% and a net margin of 7.19%. The firm had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the previous year, the company posted $0.93 earnings per share. The company’s quarterly revenue was up 16.0% on a year-over-year basis. On average, equities research analysts predict that Skechers U.S.A. will post 4.24 EPS for the current fiscal year.

Institutional Trading of Skechers U.S.A.

Several hedge funds have recently added to or reduced their stakes in SKX. Pacer Advisors Inc. grew its position in shares of Skechers U.S.A. by 5,780.6% during the 3rd quarter. Pacer Advisors Inc. now owns 2,639,390 shares of the textile maker’s stock valued at $176,628,000 after acquiring an additional 2,594,507 shares during the period. Geode Capital Management LLC grew its holdings 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 valued at $148,395,000 after purchasing an additional 11,026 shares during the period. Dimensional Fund Advisors LP increased its position 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 buying an additional 55,095 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of 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 lifted its position 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 valued at $68,630,000 after buying an additional 287,939 shares during the last quarter. Institutional investors 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.