Skechers U.S.A. (NYSE:SKX) Lowered to “Hold” Rating by StockNews.com

StockNews.com cut shares of Skechers U.S.A. (NYSE:SKX) from a buy rating to a hold rating in a research report report published on Monday.

Several other analysts have also commented on SKX. Bank of America dropped their price target on shares of Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Needham & Company LLC began coverage on Skechers U.S.A. in a research note on Friday, November 22nd. They issued a “hold” rating for the company. Deutsche Bank Aktiengesellschaft increased their price target on Skechers U.S.A. from $83.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Morgan Stanley boosted their price objective on Skechers U.S.A. from $81.00 to $84.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Finally, TD Cowen decreased their target price 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. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $78.09.

Skechers U.S.A. Stock Performance

NYSE SKX opened at $63.73 on Monday. The firm has a market capitalization of $9.62 billion, a P/E ratio of 15.70, a PEG ratio of 0.88 and a beta of 1.23. The stock has a 50-day simple moving average of $63.33 and a two-hundred day simple moving average of $66.15. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.25 and a current ratio of 1.96. Skechers U.S.A. has a fifty-two week low of $55.67 and a fifty-two week high of $75.09.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings results on Thursday, October 24th. The textile maker reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.11. Skechers U.S.A. had a return on equity of 13.71% and a net margin of 7.19%. The company had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same period last year, the business earned $0.93 earnings per share. Skechers U.S.A.’s quarterly revenue was up 16.0% on a year-over-year basis. On average, equities analysts forecast that Skechers U.S.A. will post 4.25 earnings per share for the current year.

Institutional Investors Weigh In On Skechers U.S.A.

Hedge funds have recently modified their holdings of the business. Seven Eight Capital LP grew its stake in Skechers U.S.A. by 126.1% during the 2nd quarter. Seven Eight Capital LP now owns 29,419 shares of the textile maker’s stock valued at $2,033,000 after acquiring an additional 16,408 shares in the last quarter. Cetera Advisors LLC acquired a new position in shares of Skechers U.S.A. during the 1st quarter worth approximately $600,000. Vista Investment Partners LLC purchased a new stake in shares of Skechers U.S.A. in the second quarter valued at approximately $925,000. First Hawaiian Bank acquired a new stake in shares of Skechers U.S.A. in the second quarter valued at approximately $673,000. Finally, Assenagon Asset Management S.A. lifted its position in Skechers U.S.A. by 36.5% during the second quarter. Assenagon Asset Management S.A. now owns 193,363 shares of the textile maker’s stock worth $13,365,000 after buying an additional 51,673 shares in the last quarter. 79.96% of the stock is currently owned by institutional investors and hedge funds.

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.