Skechers U.S.A. (NYSE:SKX) Upgraded at StockNews.com

StockNews.com upgraded shares of Skechers U.S.A. (NYSE:SKX) from a hold rating to a buy rating in a report released on Thursday.

A number of other research firms also recently commented on SKX. Morgan Stanley lifted their price target on Skechers U.S.A. from $81.00 to $84.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Barclays lifted their target price on Skechers U.S.A. from $79.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Piper Sandler assumed coverage on Skechers U.S.A. in a research report on Tuesday, December 10th. They set a “neutral” rating and a $65.00 price target on the stock. Needham & Company LLC initiated coverage on shares of Skechers U.S.A. in a report on Friday, November 22nd. They issued a “hold” rating for the company. Finally, Bank of America lowered their target price on shares of Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $77.00.

Skechers U.S.A. Stock Up 2.1 %

Shares of NYSE SKX opened at $67.65 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.25 and a current ratio of 1.96. Skechers U.S.A. has a 1 year low of $55.67 and a 1 year high of $75.09. The stock’s 50-day simple moving average is $64.18 and its 200-day simple moving average is $66.09. The firm has a market cap of $10.21 billion, a price-to-earnings ratio of 16.66, a PEG ratio of 0.98 and a beta of 1.22.

Skechers U.S.A. (NYSE:SKX) last posted 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. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.31 billion. Skechers U.S.A. had a return on equity of 13.71% and a net margin of 7.19%. Skechers U.S.A.’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.93 EPS. As a group, equities analysts anticipate that Skechers U.S.A. will post 4.24 earnings per share for the current fiscal year.

Institutional Trading of Skechers U.S.A.

A number of institutional investors have recently made changes to their positions in the stock. Tidal Investments LLC raised its holdings in Skechers U.S.A. by 24.3% during the third quarter. Tidal Investments LLC now owns 51,827 shares of the textile maker’s stock worth $3,468,000 after purchasing an additional 10,122 shares in the last quarter. World Investment Advisors LLC acquired a new position in shares of Skechers U.S.A. during the 3rd quarter valued at $1,182,000. Sanctuary Advisors LLC raised its stake in shares of Skechers U.S.A. by 88.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 29,538 shares of the textile maker’s stock worth $1,822,000 after buying an additional 13,836 shares in the last quarter. Te Ahumairangi Investment Management Ltd lifted its holdings in shares of Skechers U.S.A. by 31.0% in the third quarter. Te Ahumairangi Investment Management Ltd now owns 89,950 shares of the textile maker’s stock valued at $5,985,000 after buying an additional 21,275 shares during the period. Finally, Neo Ivy Capital Management bought a new position in Skechers U.S.A. during the third quarter valued at about $2,402,000. 79.96% of the stock is owned by institutional investors and hedge funds.

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.