Skechers U.S.A. (NYSE:SKX) Coverage Initiated at Needham & Company LLC

Stock analysts at Needham & Company LLC started coverage on shares of Skechers U.S.A. (NYSE:SKX) in a research note issued to investors on Friday, MarketBeat.com reports. The firm set a “hold” rating on the textile maker’s stock.

Several other brokerages have also weighed in on SKX. Bank of America dropped their target price on Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Stifel Nicolaus increased their price objective on Skechers U.S.A. from $81.00 to $83.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Barclays lifted their target price on shares of Skechers U.S.A. from $79.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Wedbush increased their price target on shares of Skechers U.S.A. from $76.00 to $79.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective 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. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $78.09.

Skechers U.S.A. Trading Up 1.1 %

NYSE:SKX opened at $61.69 on Friday. The stock’s 50-day moving average is $63.61 and its two-hundred day moving average is $66.24. Skechers U.S.A. has a fifty-two week low of $54.95 and a fifty-two week high of $75.09. The stock has a market cap of $9.31 billion, a PE ratio of 15.19, a price-to-earnings-growth ratio of 0.85 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. (NYSE:SKX) last issued its earnings results on Thursday, October 24th. The textile maker reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.11. Skechers U.S.A. had a net margin of 7.19% and a return on equity of 13.71%. The company had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same quarter last year, the business posted $0.93 EPS. The company’s revenue for the quarter was up 16.0% on a year-over-year basis. As a group, equities research analysts forecast that Skechers U.S.A. will post 4.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Skechers U.S.A.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bessemer Group Inc. boosted its stake in Skechers U.S.A. by 66.7% during the 1st quarter. Bessemer Group Inc. now owns 410 shares of the textile maker’s stock valued at $25,000 after purchasing an additional 164 shares during the period. UMB Bank n.a. boosted its position in shares of 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 valued at $30,000 after acquiring an additional 364 shares during the period. Versant Capital Management Inc grew its stake in shares of Skechers U.S.A. by 2,809.1% in the second quarter. Versant Capital Management Inc now owns 640 shares of the textile maker’s stock worth $44,000 after acquiring an additional 618 shares during the last quarter. Venturi Wealth Management LLC increased its position 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 worth $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 worth $67,000. 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.