Skechers U.S.A. (NYSE:SKX) Upgraded to “Buy” at StockNews.com

Skechers U.S.A. (NYSE:SKX) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.

Other equities analysts have also issued reports about the stock. Barclays boosted their price objective 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. Deutsche Bank Aktiengesellschaft boosted their price target on Skechers U.S.A. from $83.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. TD Cowen dropped their price objective on Skechers U.S.A. from $78.00 to $76.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Piper Sandler initiated coverage on Skechers U.S.A. in a research report on Tuesday, December 10th. They issued a “neutral” rating and a $65.00 target price for the company. Finally, Morgan Stanley raised their price target on shares of Skechers U.S.A. from $81.00 to $84.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Skechers U.S.A. presently has a consensus rating of “Moderate Buy” and an average target price of $77.00.

Skechers U.S.A. Stock Up 0.3 %

Shares of NYSE SKX traded up $0.23 during trading on Thursday, reaching $66.29. The company had a trading volume of 1,520,243 shares, compared to its average volume of 1,881,384. Skechers U.S.A. has a 12-month low of $55.67 and a 12-month high of $75.09. The company has a quick ratio of 1.25, a current ratio of 1.96 and a debt-to-equity ratio of 0.01. The business’s 50-day moving average is $64.18 and its 200 day moving average is $66.13. The stock has a market cap of $10.01 billion, a PE ratio of 16.33, a P/E/G ratio of 0.98 and a beta of 1.22.

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. The business had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.31 billion. Skechers U.S.A. had a net margin of 7.19% and a return on equity of 13.71%. Skechers U.S.A.’s revenue was up 16.0% compared to the same quarter last year. During the same period last year, the business earned $0.93 EPS. As a group, equities analysts forecast that Skechers U.S.A. will post 4.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. UMB Bank n.a. increased its stake in shares of Skechers U.S.A. by 423.3% in the 3rd quarter. UMB Bank n.a. now owns 450 shares of the textile maker’s stock worth $30,000 after purchasing an additional 364 shares in the last quarter. Venturi Wealth Management LLC increased its position in Skechers U.S.A. by 52.9% in 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 in the last quarter. Brooklyn Investment Group bought a new position in shares of Skechers U.S.A. in the third quarter worth about $67,000. Blue Trust Inc. lifted its position in shares of Skechers U.S.A. by 778.1% during the 3rd quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker’s stock valued at $69,000 after buying an additional 887 shares in the last quarter. Finally, Quarry LP increased its holdings in Skechers U.S.A. by 44.6% in the 2nd quarter. Quarry LP now owns 1,187 shares of the textile maker’s stock worth $82,000 after acquiring an additional 366 shares in 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.