Skechers U.S.A. (NYSE:SKX) Stock Rating Lowered by StockNews.com

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

A number of other analysts also recently weighed in on SKX. Morgan Stanley raised their price target on shares of Skechers U.S.A. from $81.00 to $84.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Barclays raised their price objective on Skechers U.S.A. from $79.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Needham & Company LLC initiated coverage on Skechers U.S.A. in a research note on Friday, November 22nd. They set a “hold” rating on the stock. TD Cowen reduced 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 note on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective 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. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Skechers U.S.A. currently has an average rating of “Moderate Buy” and a consensus target price of $78.09.

Skechers U.S.A. Stock Down 0.8 %

SKX stock opened at $62.96 on Monday. Skechers U.S.A. has a twelve month low of $55.51 and a twelve month high of $75.09. 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 company has a market capitalization of $9.51 billion, a P/E ratio of 15.51, a PEG ratio of 0.86 and a beta of 1.23. The firm has a 50 day simple moving average of $63.42 and a 200-day simple moving average of $66.17.

Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings results on Thursday, October 24th. The textile maker reported $1.26 earnings per share for the quarter, topping 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 the consensus estimate of $2.31 billion. During the same quarter last year, the company earned $0.93 earnings per share. The business’s quarterly revenue was up 16.0% compared to the same quarter last year. On average, equities research analysts predict that Skechers U.S.A. will post 4.25 earnings per share for the current fiscal year.

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

Hedge funds have recently added to or reduced their stakes in the stock. Bessemer Group Inc. lifted its stake in Skechers U.S.A. by 66.7% in the first quarter. Bessemer Group Inc. now owns 410 shares of the textile maker’s stock valued at $25,000 after buying an additional 164 shares during the last quarter. UMB Bank n.a. raised its stake in shares of 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 valued at $30,000 after purchasing an additional 364 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of Skechers U.S.A. by 2,809.1% during the second quarter. Versant Capital Management Inc now owns 640 shares of the textile maker’s stock valued at $44,000 after purchasing an additional 618 shares in the last quarter. Venturi Wealth Management LLC raised 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 valued at $58,000 after purchasing an additional 299 shares in the last quarter. Finally, Brooklyn Investment Group bought a new stake in shares of Skechers U.S.A. during the third quarter valued at about $67,000. 79.96% of the stock is currently owned by 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.