Skechers U.S.A. (NYSE:SKX) Earns Hold Rating from Analysts at Needham & Company LLC

Needham & Company LLC began coverage on shares of Skechers U.S.A. (NYSE:SKX) in a research report sent to investors on Friday, Marketbeat.com reports. The firm issued a hold rating on the textile maker’s stock.

SKX has been the subject of several other reports. StockNews.com raised shares of Skechers U.S.A. from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Stifel Nicolaus lifted their target price 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. Morgan Stanley increased their target price 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. Evercore ISI raised their price objective on shares of Skechers U.S.A. from $68.00 to $72.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Finally, TD Cowen lowered their target price on shares of Skechers U.S.A. from $78.00 to $76.00 and set a “buy” rating for the company in a report on Monday, October 14th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $78.09.

Skechers U.S.A. Trading Up 1.1 %

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

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings data on Thursday, October 24th. The textile maker reported $1.26 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same period last year, the company earned $0.93 earnings per share. Skechers U.S.A.’s quarterly revenue was up 16.0% compared to the same quarter last year. Sell-side analysts predict that Skechers U.S.A. will post 4.25 EPS for the current year.

Institutional Trading of Skechers U.S.A.

Several institutional investors and hedge funds have recently added to or reduced their stakes in SKX. Bessemer Group Inc. lifted its position in shares of Skechers U.S.A. by 66.7% in the first quarter. Bessemer Group Inc. now owns 410 shares of the textile maker’s stock valued at $25,000 after buying an additional 164 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Skechers U.S.A. in the first quarter valued at approximately $206,000. LRI Investments LLC bought a new position in shares of Skechers U.S.A. in the first quarter worth $102,000. Magnetar Financial LLC acquired a new position in Skechers U.S.A. during the first quarter valued at approximately $3,203,000. Finally, Paloma Partners Management Co lifted its position in shares of Skechers U.S.A. by 300.0% during the 1st quarter. Paloma Partners Management Co now owns 20,000 shares of the textile maker’s stock worth $1,225,000 after buying an additional 15,000 shares during the last quarter. 79.96% of the stock is owned by institutional investors.

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.