Deutsche Bank Aktiengesellschaft Boosts Skechers U.S.A. (NYSE:SKX) Price Target to $84.00

Skechers U.S.A. (NYSE:SKX) had its price target upped by Deutsche Bank Aktiengesellschaft from $83.00 to $84.00 in a research note issued to investors on Friday, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the textile maker’s stock.

A number of other brokerages have also recently issued reports on SKX. Wedbush boosted their target price on shares of Skechers U.S.A. from $76.00 to $79.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Stifel Nicolaus boosted their price objective on shares of Skechers U.S.A. from $81.00 to $83.00 and gave the company a “buy” rating in a report on Friday, July 26th. Barclays raised their target price on shares of Skechers U.S.A. from $79.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday. Evercore ISI boosted their price target on Skechers U.S.A. from $68.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Finally, Morgan Stanley raised their price objective on Skechers U.S.A. from $81.00 to $84.00 and gave the stock an “overweight” rating in a research note on Friday. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $78.09.

Skechers U.S.A. Stock Down 3.9 %

Skechers U.S.A. stock opened at $59.21 on Friday. The company’s 50-day moving average price is $65.98 and its two-hundred day moving average price is $66.16. The company has a quick ratio of 1.33, a current ratio of 2.06 and a debt-to-equity ratio of 0.01. The stock has a market cap of $9.03 billion, a P/E ratio of 15.58, a P/E/G ratio of 0.89 and a beta of 1.22. Skechers U.S.A. has a twelve month low of $45.58 and a twelve month high of $75.09.

Skechers U.S.A. (NYSE:SKX) last announced its earnings results 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 company 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 13.04% and a net margin of 6.90%. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.93 earnings per share. As a group, analysts expect that Skechers U.S.A. will post 4.15 EPS for the current year.

Skechers U.S.A. declared that its board has approved a share repurchase program on Thursday, July 25th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the textile maker to buy up to 10.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Institutional Trading of Skechers U.S.A.

Several institutional investors and hedge funds have recently modified their holdings of the business. Bessemer Group Inc. grew its position 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 last quarter. CIBC Asset Management Inc lifted its stake in Skechers U.S.A. by 4.7% in the 2nd quarter. CIBC Asset Management Inc now owns 3,820 shares of the textile maker’s stock valued at $264,000 after purchasing an additional 173 shares during the last quarter. QRG Capital Management Inc. boosted its position in Skechers U.S.A. by 2.0% in the first quarter. QRG Capital Management Inc. now owns 10,047 shares of the textile maker’s stock valued at $615,000 after buying an additional 194 shares in the last quarter. X Square Capital LLC grew its stake in shares of Skechers U.S.A. by 0.5% during the second quarter. X Square Capital LLC now owns 40,903 shares of the textile maker’s stock worth $2,827,000 after buying an additional 215 shares during the last quarter. Finally, Pallas Capital Advisors LLC grew its stake in shares of Skechers U.S.A. by 5.7% during the second quarter. Pallas Capital Advisors LLC now owns 6,027 shares of the textile maker’s stock worth $388,000 after buying an additional 324 shares during the last quarter. 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.