Skechers USA, Inc. (NYSE: SKX) Receives an Average “Moderate Buy” Recommendation from Brokerages
Shares of Skechers USA, Inc. (NYSE: SKX – Get a rating) received a consensus “moderate buy” recommendation from the thirteen ratings companies that currently cover the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The 12-month average price target among brokerages that have quoted the stock over the past year is $58.00.
SKX has been the subject of a number of recent research reports. StockNews.com launched a coverage on Skechers USA in a report on Thursday, March 31. They issued a “hold” rating for the company. Deutsche Bank Aktiengesellschaft cut its price target on Skechers USA from $62.00 to $61.00 in a Monday, April 25 report. TheStreet downgraded Skechers USA from a “b” rating to a “c+” rating in a Tuesday, May 17 report. OTR Global upgraded Skechers USA from a “mixed” rating to a “positive” rating in a Tuesday, April 5 report. Finally, Berenberg Bank reaffirmed a “buy” rating and set a price target of $71.00 on Skechers USA shares in a Tuesday, May 17 report.
NYSE SKX shares opened at $37.38 on Wednesday. Skechers USA has a 12-month low of $33.50 and a 12-month high of $55.87. The company has a current ratio of 2.44, a quick ratio of 1.41 and a debt ratio of 0.07. The stock has a fifty-day simple moving average of $38.21 and a 200-day simple moving average of $40.88. The stock has a market capitalization of $5.83 billion, a PE ratio of 7.68 and a beta of 1.33.
Skechers USA (NYSE: SKX – Get a rating) last reported results on Tuesday, April 26. The textile maker reported earnings per share (EPS) of $0.77 for the quarter, beating consensus analyst estimates of $0.72 by $0.05. The company posted revenue of $1.82 billion in the quarter, compared to analysts’ estimates of $1.69 billion. Skechers USA had a return on equity of 12.94% and a net margin of 11.45%. During the same period last year, the company posted earnings per share of $0.63. On average, stock analysts predict that Skechers USA will post earnings per share of 2.84 for the current year.
Several institutional investors have recently bought and sold shares of SKX. Marshall Wace LLP increased its position in Skechers USA by 121.9% in the 4th quarter. Marshall Wace LLP now owns 5,450,266 shares of the textile maker valued at $236,541,000 after acquiring an additional 2,994,421 shares during the period. Theleme Partners LLP acquired a new position in Skechers USA in Q1 worth approximately $94,654,000. Pzena Investment Management LLC increased 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 valued at $281,441,000 after acquiring an additional 2,071,445 shares during the period. Massachusetts Financial Services Co. MA increased its position 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 valued at $297,115,000 after acquiring an additional 711,341 shares during the period. Finally, Point72 Asset Management LP acquired a new position in Skechers USA in Q4 valued at approximately $26,759,000. 79.71% of the shares are held by institutional investors and hedge funds.
About Skechers Canada (Get a rating)
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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