Skechers U.S.A. (NYSE:SKX) Cut to “Hold” at StockNews.com

StockNews.com cut shares of Skechers U.S.A. (NYSE:SKX) from a buy rating to a hold rating in a research note published on Monday.

A number of other equities research analysts have also weighed in on SKX. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Skechers U.S.A. from $83.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Bank of America decreased their price objective on Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating for the company in a report on Friday, October 25th. Barclays raised 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. Needham & Company LLC began coverage on Skechers U.S.A. in a research report on Friday, November 22nd. They issued a “hold” rating on the stock. Finally, TD Cowen lowered their price objective on Skechers U.S.A. from $78.00 to $76.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Skechers U.S.A. currently has an average rating of “Moderate Buy” and a consensus target price of $78.09.

Skechers U.S.A. Stock Performance

Shares of Skechers U.S.A. stock opened at $63.71 on Monday. The company’s 50 day moving average price is $63.38 and its two-hundred day moving average price is $66.14. The firm has a market capitalization of $9.62 billion, a P/E ratio of 15.69, a P/E/G ratio of 0.88 and a beta of 1.23. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.96 and a quick ratio of 1.25. Skechers U.S.A. has a fifty-two week low of $55.67 and a fifty-two week high of $75.09.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings data on Thursday, October 24th. The textile maker reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.11. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.93 EPS. On average, equities analysts forecast that Skechers U.S.A. will post 4.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Skechers U.S.A.

Institutional investors and hedge funds have recently modified their holdings of the business. Bessemer Group Inc. grew its stake in 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 acquiring an additional 164 shares during the period. UMB Bank n.a. boosted its position in Skechers U.S.A. by 423.3% in the third quarter. UMB Bank n.a. now owns 450 shares of the textile maker’s stock worth $30,000 after purchasing an additional 364 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of Skechers U.S.A. by 2,809.1% in the 2nd quarter. Versant Capital Management Inc now owns 640 shares of the textile maker’s stock worth $44,000 after buying an additional 618 shares during the last quarter. Venturi Wealth Management LLC grew its position in shares of Skechers U.S.A. by 52.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker’s stock valued at $58,000 after acquiring an additional 299 shares during the period. Finally, Brooklyn Investment Group bought a new position in Skechers U.S.A. during the third quarter valued at $67,000. 79.96% of the stock is currently owned by institutional investors.

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.