Skechers U.S.A., Inc. (NYSE:SKX) Receives $66.75 Average Target Price from Analysts

Shares of Skechers U.S.A., Inc. (NYSE:SKX) have received an average recommendation of “Hold” from the thirteen research firms that are presently covering the firm, Marketbeat reports. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $66.75.

Several research firms have issued reports on SKX. Barclays reaffirmed an “equal weight” rating and set a $63.00 price target (up from $53.00) on shares of Skechers U.S.A. in a research note on Tuesday, May 6th. Monness Crespi & Hardt cut shares of Skechers U.S.A. from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 7th. Raymond James Financial cut shares of Skechers U.S.A. from a “moderate buy” rating to a “hold” rating in a research note on Monday, May 5th. Wall Street Zen initiated coverage on shares of Skechers U.S.A. in a research note on Thursday, May 22nd. They set a “sell” rating on the stock. Finally, Wells Fargo & Company increased their price objective on shares of Skechers U.S.A. from $57.00 to $63.00 and gave the stock an “overweight” rating in a report on Tuesday, May 6th.

Institutional Trading of Skechers U.S.A.

Institutional investors and hedge funds have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC increased its position in Skechers U.S.A. by 49.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 90,309 shares of the textile maker’s stock worth $5,192,000 after purchasing an additional 30,053 shares in the last quarter. Vontobel Holding Ltd. increased its position in Skechers U.S.A. by 130.5% during the 1st quarter. Vontobel Holding Ltd. now owns 11,190 shares of the textile maker’s stock worth $635,000 after purchasing an additional 6,335 shares in the last quarter. Hudson Bay Capital Management LP acquired a new stake in Skechers U.S.A. during the 4th quarter worth approximately $5,804,000. Praxis Investment Management Inc. acquired a new stake in Skechers U.S.A. in the first quarter valued at approximately $232,000. Finally, Schroder Investment Management Group grew its position in Skechers U.S.A. by 11.3% in the fourth quarter. Schroder Investment Management Group now owns 177,343 shares of the textile maker’s stock valued at $12,010,000 after acquiring an additional 18,024 shares in the last quarter. Institutional investors and hedge funds own 79.96% of the company’s stock.

Skechers U.S.A. Price Performance

Skechers U.S.A. stock opened at $63.19 on Monday. Skechers U.S.A. has a 12-month low of $44.50 and a 12-month high of $78.85. The stock has a market capitalization of $9.45 billion, a P/E ratio of 15.19 and a beta of 1.12. The firm’s 50-day moving average is $62.73 and its two-hundred day moving average is $60.96. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.13 and a quick ratio of 1.28.

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.