Skechers U.S.A.’s (SKX) Buy Rating Reiterated at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft reaffirmed their buy rating on shares of Skechers U.S.A. (NYSE:SKX) in a research note issued to investors on Thursday morning, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a $82.00 price target on the textile maker’s stock.

Other research analysts have also issued research reports about the stock. Barclays began coverage on shares of Skechers U.S.A. in a research note on Monday, April 1st. They issued an overweight rating and a $71.00 price target on the stock. Wedbush reissued an outperform rating and issued a $76.00 price target on shares of Skechers U.S.A. in a research note on Friday, May 17th. Evercore ISI reduced their price target on Skechers U.S.A. from $73.00 to $68.00 and set an outperform rating for the company in a research report on Wednesday, April 17th. Stifel Nicolaus lifted their price objective on shares of Skechers U.S.A. from $74.00 to $81.00 and gave the company a buy rating in a report on Tuesday, May 28th. Finally, Wells Fargo & Company assumed coverage on shares of Skechers U.S.A. in a research report on Wednesday. They issued an overweight rating and a $83.00 target price for the company. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $72.00.

Skechers U.S.A. Price Performance

Shares of SKX stock opened at $72.17 on Thursday. The firm has a market capitalization of $11.01 billion, a price-to-earnings ratio of 18.99, a price-to-earnings-growth ratio of 1.11 and a beta of 1.28. Skechers U.S.A. has a 12-month low of $45.58 and a 12-month high of $75.09. The company has a quick ratio of 1.56, a current ratio of 2.39 and a debt-to-equity ratio of 0.02. The firm has a fifty day moving average of $65.90 and a 200-day moving average of $62.73.

Skechers U.S.A. (NYSE:SKX) last posted its earnings results on Thursday, April 25th. The textile maker reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.23. The firm had revenue of $2.25 billion during the quarter, compared to analysts’ expectations of $2.20 billion. Skechers U.S.A. had a return on equity of 13.56% and a net margin of 7.17%. The company’s revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.02 earnings per share. On average, equities research analysts forecast that Skechers U.S.A. will post 4.07 earnings per share for the current year.

Insider Transactions at Skechers U.S.A.

In other Skechers U.S.A. news, General Counsel Phillip Paccione sold 423 shares of Skechers U.S.A. stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $69.45, for a total transaction of $29,377.35. Following the completion of the transaction, the general counsel now directly owns 35,000 shares of the company’s stock, valued at $2,430,750. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 24.75% of the stock is currently owned by corporate insiders.

Institutional Trading of Skechers U.S.A.

Several hedge funds and other institutional investors have recently modified their holdings of SKX. Bessemer Group Inc. lifted its position 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 worth $25,000 after acquiring an additional 164 shares during the last quarter. Bfsg LLC grew its holdings in Skechers U.S.A. by 2.9% in the 4th quarter. Bfsg LLC now owns 6,545 shares of the textile maker’s stock valued at $408,000 after buying an additional 186 shares in the last quarter. QRG Capital Management Inc. increased its position in Skechers U.S.A. by 2.0% during the 1st quarter. QRG Capital Management Inc. now owns 10,047 shares of the textile maker’s stock worth $615,000 after buying an additional 194 shares during the period. National Bank of Canada FI lifted its holdings in shares of Skechers U.S.A. by 7.1% during the fourth quarter. National Bank of Canada FI now owns 3,035 shares of the textile maker’s stock worth $188,000 after buying an additional 200 shares in the last quarter. Finally, 1492 Capital Management LLC boosted its position in shares of Skechers U.S.A. by 1.0% in the fourth quarter. 1492 Capital Management LLC now owns 26,270 shares of the textile maker’s stock valued at $1,638,000 after acquiring an additional 259 shares during the period. Institutional investors own 79.96% of the company’s stock.

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.