Skechers U.S.A. (NYSE:SKX) Now Covered by Analysts at Needham & Company LLC

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

Several other equities analysts also recently weighed in on the company. Stifel Nicolaus raised their price target 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. Wedbush raised their price objective on Skechers U.S.A. from $76.00 to $79.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. TD Cowen decreased their price objective on Skechers U.S.A. from $78.00 to $76.00 and set a “buy” rating on the stock in a report on Monday, October 14th. StockNews.com upgraded Skechers U.S.A. from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Finally, Bank of America decreased their price objective on Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, October 25th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $78.09.

Skechers U.S.A. Stock Performance

NYSE SKX opened at $61.69 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.96 and a quick ratio of 1.25. The business has a 50 day moving average price of $63.61 and a 200 day moving average price of $66.24. The company has a market capitalization of $9.31 billion, a P/E ratio of 15.19, a PEG ratio of 0.85 and a beta of 1.23. Skechers U.S.A. has a 1-year low of $54.95 and a 1-year high of $75.09.

Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings results on Thursday, October 24th. The textile maker reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.11. The company had revenue of $2.35 billion during 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 was up 16.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.93 earnings per share. Sell-side analysts expect that Skechers U.S.A. will post 4.25 EPS for the current fiscal year.

Institutional Trading of Skechers U.S.A.

A number of hedge funds and other institutional investors have recently modified their holdings of SKX. Bessemer Group Inc. raised its stake in Skechers U.S.A. by 66.7% during 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 in the last quarter. UMB Bank n.a. raised its stake in Skechers U.S.A. by 423.3% during the third quarter. UMB Bank n.a. now owns 450 shares of the textile maker’s stock valued at $30,000 after buying an additional 364 shares in the last quarter. Versant Capital Management Inc raised its stake in Skechers U.S.A. by 2,809.1% during the second quarter. Versant Capital Management Inc now owns 640 shares of the textile maker’s stock valued at $44,000 after buying an additional 618 shares in the last quarter. Venturi Wealth Management LLC raised its stake in Skechers U.S.A. by 52.9% during the third quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker’s stock valued at $58,000 after buying an additional 299 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new stake in Skechers U.S.A. during the third quarter valued at approximately $67,000. 79.96% of the stock is owned by hedge funds and other 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.