Skechers U.S.A., Inc. (NYSE:SKX) Receives $77.00 Average Price Target from Analysts

Skechers U.S.A., Inc. (NYSE:SKX) has received an average rating of “Moderate Buy” from the thirteen ratings firms that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $77.00.

Several equities research analysts recently commented on the stock. Barclays boosted their price target 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, October 25th. Bank of America reduced their price target on shares of Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Piper Sandler initiated coverage on shares of Skechers U.S.A. in a research note on Tuesday, December 10th. They issued a “neutral” rating and a $65.00 price target on the stock. TD Cowen cut their price objective on Skechers U.S.A. from $78.00 to $76.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Finally, Needham & Company LLC started coverage on Skechers U.S.A. in a research report on Friday, November 22nd. They issued a “hold” rating on the stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SKX. UMB Bank n.a. raised its stake in 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 purchasing an additional 364 shares during the period. Venturi Wealth Management LLC raised its position in shares of Skechers U.S.A. by 52.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker’s stock valued at $58,000 after buying an additional 299 shares during the period. Brooklyn Investment Group acquired a new position in Skechers U.S.A. in the third quarter valued at approximately $67,000. 1620 Investment Advisors Inc. purchased a new position in Skechers U.S.A. in the second quarter worth approximately $69,000. Finally, Blue Trust Inc. increased its stake in 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. Institutional investors and hedge funds own 79.96% of the company’s stock.

Skechers U.S.A. Price Performance

NYSE:SKX opened at $68.28 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.96 and a debt-to-equity ratio of 0.01. Skechers U.S.A. has a 52 week low of $55.67 and a 52 week high of $75.09. The stock’s 50-day moving average price is $64.19 and its 200-day moving average price is $66.13. The stock has a market capitalization of $10.31 billion, a PE ratio of 16.82, a price-to-earnings-growth ratio of 0.98 and a beta of 1.22.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings data on Thursday, October 24th. The textile maker reported $1.26 EPS for the quarter, beating the consensus estimate 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 13.71% and a net margin of 7.19%. Skechers U.S.A.’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period last year, the company earned $0.93 earnings per share. As a group, equities analysts expect that Skechers U.S.A. will post 4.24 EPS for the current fiscal year.

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.