Skechers U.S.A. (NYSE:SKX) Now Covered by Analysts at Needham & Company LLC

Needham & Company LLC began coverage on shares of Skechers U.S.A. (NYSE:SKX) in a research note released on Friday morning, MarketBeat Ratings reports. The brokerage issued a hold rating on the textile maker’s stock.

A number of other analysts have also commented on the company. StockNews.com raised Skechers U.S.A. from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Skechers U.S.A. from $83.00 to $84.00 and gave the company a “buy” rating in a report on Friday, October 25th. Stifel Nicolaus raised their target price on shares of Skechers U.S.A. from $81.00 to $83.00 and gave the stock a “buy” rating in a report on Friday, July 26th. TD Cowen lowered their price target on Skechers U.S.A. from $78.00 to $76.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Finally, Wedbush lifted their price objective on Skechers U.S.A. from $76.00 to $79.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.09.

Skechers U.S.A. Trading Up 2.9 %

NYSE SKX opened at $63.48 on Friday. The stock’s fifty day moving average price is $63.52 and its 200-day moving average price is $66.20. The company has a current ratio of 1.96, a quick ratio of 1.25 and a debt-to-equity ratio of 0.01. The stock has a market cap of $9.58 billion, a P/E ratio of 15.64, a P/E/G ratio of 0.86 and a beta of 1.23. Skechers U.S.A. has a 12 month low of $55.51 and a 12 month high of $75.09.

Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings data on Thursday, October 24th. The textile maker reported $1.26 earnings per share 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 business had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same period last year, the business earned $0.93 EPS. Skechers U.S.A.’s revenue was up 16.0% compared to the same quarter last year. As a group, equities analysts forecast that Skechers U.S.A. will post 4.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bessemer Group Inc. boosted its stake in 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 in the last quarter. UMB Bank n.a. raised its holdings 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 worth $30,000 after buying an additional 364 shares during the last quarter. Versant Capital Management Inc raised its holdings 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 buying an additional 618 shares during the last quarter. Venturi Wealth Management LLC lifted its stake 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 buying an additional 299 shares during the period. Finally, Brooklyn Investment Group purchased a new stake in shares of Skechers U.S.A. during the third quarter valued at $67,000. 79.96% of the stock is currently owned by hedge funds and other 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.