Skechers USA, Inc. (NYSE: SKX) Receives Consensus ‘Moderate Buy’ Rating from Analysts
Skechers USA, Inc. (NYSE: SKX – Get a rating) earned an average “moderate buy” rating from the fourteen brokerages that currently cover the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and nine have issued a buy rating on the company. The 1-year average target price among brokers who updated their coverage on the stock in the past year is $51.89.
A number of stock analysts have weighed in on the stock recently. TheStreet downgraded shares of Skechers USA from a “b” rating to a “c+” rating in a Tuesday, May 17 report. Berenberg Bank restated a “buy” rating and issued a price target of $71.00 on Skechers USA shares in a Tuesday, May 17 report. Stifel Nicolaus lowered his price target on Skechers USA shares from $61.00 to $45.00 in a Wednesday July 20 report. UBS Group cut its price target on Skechers USA shares from $67.00 to $56.00 in a Friday, July 15 research report. Finally, Morgan Stanley lowered its price target on Skechers USA shares from $62.00 to $59.00 and set an “overweight” rating for the company in a Wednesday, July 27 research report.
Price performance of Skechers in the United States
SKX stock opened at $40.51 on Thursday. The company has a 50-day moving average price of $37.72 and a 200-day moving average price of $39.55. Skechers USA has a 52-week low of $33.50 and a 52-week high of $51.74. The company has a market capitalization of $6.32 billion, a price-earnings ratio of 8.86 and a beta of 1.30. The company has a debt ratio of 0.07, a quick ratio of 1.31 and a current ratio of 2.34.
Institutional investors weigh in on Skechers USA
A number of hedge funds have recently changed their holdings in the company. Captrust Financial Advisors increased its holdings in Skechers USA by 30.0% in the second quarter. Captrust Financial Advisors now owns 5,141 shares of the textile maker worth $183,000 after buying 1,187 additional shares during the period. United Services Automobile Association bought a new position in Skechers USA in the 2nd quarter at a value of $514,000. Price T Rowe Associates Inc. MD increased its stake in Skechers USA by 6.3% in the second quarter. Price T Rowe Associates Inc. MD now owns 2,784,301 shares of the textile maker worth $99,065,000 after purchasing an additional 165,147 shares during the period. Coronation Fund Managers Ltd. bought a new position in Skechers USA in Q2 worth $2,544,000. Finally, Occudo Quantitative Strategies LP bought a new position in Skechers USA in Q2 worth $989,000. Institutional investors hold 79.71% of the company’s shares.
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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