Skechers USA (NYSE:SKX) had its price objective boosted by Morgan Stanley from $25.00 to $33.00 in a report published on Wednesday, Anlyst Ratings reports. The brokerage currently has an equal weight rating on the textile maker’s stock.
Other equities analysts have also issued research reports about the stock. B. Riley raised their price objective on shares of Skechers USA from $37.00 to $39.00 in a research report on Friday, July 24th. Monness Crespi & Hardt reaffirmed a buy rating and set a $40.00 price objective on shares of Skechers USA in a research report on Monday, July 20th. Deutsche Bank Aktiengesellschaft increased their price target on Skechers USA from $34.00 to $39.00 and gave the company a buy rating in a report on Friday, July 24th. 140166 increased their price target on Skechers USA from $32.00 to $39.00 in a report on Friday, July 10th. Finally, OTR Global upgraded Skechers USA to a positive rating in a report on Thursday, October 1st. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. The company presently has an average rating of Buy and an average target price of $39.10.
Shares of SKX opened at $33.10 on Wednesday. The firm has a market cap of $5.23 billion, a PE ratio of 35.21 and a beta of 1.11. The firm’s 50 day moving average price is $31.05 and its 200 day moving average price is $29.37. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.96 and a current ratio of 2.91. Skechers USA has a twelve month low of $17.06 and a twelve month high of $44.50.
Skechers USA (NYSE:SKX) last issued its quarterly earnings data on Thursday, July 23rd. The textile maker reported ($0.44) earnings per share for the quarter, beating the consensus estimate of ($0.67) by $0.23. The firm had revenue of $729.47 million for the quarter, compared to analyst estimates of $676.69 million. Skechers USA had a net margin of 3.08% and a return on equity of 6.24%. On average, sell-side analysts anticipate that Skechers USA will post 0.59 earnings per share for the current fiscal year.
Several institutional investors have recently made changes to their positions in SKX. Samlyn Capital LLC acquired a new stake in shares of Skechers USA in the first quarter worth $59,484,000. Broad Peak Investment Holdings Ltd. acquired a new stake in shares of Skechers USA in the second quarter worth $39,004,000. International Value Advisers LLC acquired a new stake in shares of Skechers USA in the second quarter worth $26,307,000. Letko Brosseau & Associates Inc. acquired a new stake in shares of Skechers USA in the second quarter worth $11,899,000. Finally, Scopus Asset Management L.P. acquired a new stake in shares of Skechers USA in the first quarter worth $7,560,000. Institutional investors and hedge funds own 77.22% of the company’s stock.
About Skechers USA
Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children; and performance footwear for men and women under the Skechers GO brand worldwide. It operates through three segments: Domestic Wholesale Sales, International Wholesale Sales, and Retail Sales. The company offers casual boots, shoes, and sandals for men; shoes, oxfords and slip-ons, lug outsole and fashion boots, and casual sandals for women; dress casuals, seasonal sandals and boots, classic and wide fit, and relaxed fit casuals for men and women; and casual athletic line for men and women under the Skechers USA brand.
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