Analysts Set Skechers U.S.A., Inc. (NYSE:SKX) Price Target at $72.00

Skechers U.S.A., Inc. (NYSE:SKX) has earned a consensus rating of “Moderate Buy” from the thirteen research firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $72.00.

SKX has been the topic of several research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $82.00 target price on shares of Skechers U.S.A. in a report on Thursday, June 13th. TD Cowen raised their price target on shares of Skechers U.S.A. from $70.00 to $74.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Evercore ISI dropped their price objective on shares of Skechers U.S.A. from $73.00 to $68.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 17th. Stifel Nicolaus lifted their target price on Skechers U.S.A. from $74.00 to $81.00 and gave the company a “buy” rating in a research note on Tuesday, May 28th. Finally, Bank of America raised Skechers U.S.A. from a “neutral” rating to a “buy” rating and upped their target price for the company from $71.00 to $87.00 in a report on Friday, June 7th.

Skechers U.S.A. Stock Performance

NYSE:SKX opened at $72.82 on Friday. Skechers U.S.A. has a 1-year low of $45.58 and a 1-year high of $75.09. The stock has a market cap of $11.11 billion, a P/E ratio of 19.16, a PEG ratio of 1.04 and a beta of 1.28. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.39 and a quick ratio of 1.56. The firm has a 50-day moving average of $68.13 and a two-hundred day moving average of $63.42.

Skechers U.S.A. (NYSE:SKX) last released its earnings results on Thursday, April 25th. The textile maker reported $1.33 EPS for the quarter, beating the consensus estimate of $1.10 by $0.23. The company 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 business’s revenue was up 12.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.02 EPS. On average, research analysts expect that Skechers U.S.A. will post 4.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Skechers U.S.A. news, General Counsel Phillip Paccione sold 423 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $69.45, for a total transaction of $29,377.35. Following the transaction, the general counsel now owns 35,000 shares of the company’s stock, valued at approximately $2,430,750. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 24.75% of the company’s stock.

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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Redmont Wealth Advisors LLC bought a new position in Skechers U.S.A. during the first quarter valued at about $25,000. Bessemer Group Inc. grew its stake in shares of Skechers U.S.A. by 66.7% in the 1st quarter. Bessemer Group Inc. now owns 410 shares of the textile maker’s stock worth $25,000 after purchasing an additional 164 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of Skechers U.S.A. in the 3rd quarter worth approximately $31,000. GAMMA Investing LLC acquired a new stake in Skechers U.S.A. during the fourth quarter valued at approximately $36,000. Finally, Game Plan Financial Advisors LLC bought a new stake in Skechers U.S.A. during the first quarter worth approximately $43,000. 79.96% of the stock is owned by 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.