Shares of Skechers U.S.A., Inc. (NYSE:SKX – Get Free Report) hit a new 52-week high during mid-day trading on Wednesday after Evercore ISI raised their price target on the stock from $72.00 to $85.00. Evercore ISI currently has an outperform rating on the stock. Skechers U.S.A. traded as high as $76.90 and last traded at $76.85, with a volume of 1643467 shares. The stock had previously closed at $75.04.
A number of other equities research analysts have also recently weighed in on SKX. StockNews.com raised Skechers U.S.A. from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. Needham & Company LLC assumed coverage on Skechers U.S.A. in a research note on Friday, November 22nd. They issued a “hold” rating for the company. Bank of America decreased their target price 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. TD Cowen lifted their target price on Skechers U.S.A. from $88.00 to $93.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Finally, Piper Sandler assumed coverage on Skechers U.S.A. in a report on Tuesday, December 10th. They issued a “neutral” rating and a $65.00 target price for the company. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Skechers U.S.A. currently has an average rating of “Moderate Buy” and an average price target of $80.18.
View Our Latest Report on Skechers U.S.A.
Insider Activity at Skechers U.S.A.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the stock. UMB Bank n.a. increased its position in shares of Skechers U.S.A. by 423.3% during the third quarter. UMB Bank n.a. now owns 450 shares of the textile maker’s stock worth $30,000 after acquiring an additional 364 shares during the last quarter. Venturi Wealth Management LLC increased its position in shares of 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 last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Skechers U.S.A. during the fourth quarter worth about $65,000. Brooklyn Investment Group purchased a new stake in shares of Skechers U.S.A. during the third quarter worth about $67,000. Finally, Blue Trust Inc. increased its position in shares of Skechers U.S.A. by 778.1% during the third quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker’s stock worth $69,000 after acquiring an additional 887 shares during the last quarter. 79.96% of the stock is owned by hedge funds and other institutional investors.
Skechers U.S.A. Stock Performance
The firm has a market capitalization of $11.59 billion, a PE ratio of 18.91, a price-to-earnings-growth ratio of 0.90 and a beta of 1.19. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.96 and a quick ratio of 1.25. The stock has a 50-day moving average price of $68.70 and a 200-day moving average price of $65.98.
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.
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