Skechers U.S.A. (NYSE:SKX) Given “Hold” Rating at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Skechers U.S.A. (NYSE:SKX) in a research report report published on Wednesday,Benzinga reports.

Other analysts also recently issued reports about the stock. Zacks Research upgraded shares of Skechers U.S.A. from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Monness Crespi & Hardt downgraded shares of Skechers U.S.A. from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 7th. Argus downgraded shares of Skechers U.S.A. from a “buy” rating to a “hold” rating and set a $63.00 price target on the stock. in a research report on Tuesday. Barclays restated 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 report on Tuesday, May 6th. Finally, TD Cowen downgraded shares of Skechers U.S.A. from a “buy” rating to a “hold” rating and set a $63.00 price target on the stock. in a research report on Wednesday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, Skechers U.S.A. currently has a consensus rating of “Hold” and an average target price of $66.46.

Skechers U.S.A. Trading Up 0.0%

Skechers U.S.A. stock opened at $63.10 on Wednesday. The company has a quick ratio of 1.29, a current ratio of 2.09 and a debt-to-equity ratio of 0.02. The firm has a 50-day moving average price of $63.07 and a two-hundred day moving average price of $59.53. The firm has a market capitalization of $9.48 billion, a price-to-earnings ratio of 14.41 and a beta of 1.16. Skechers U.S.A. has a 52-week low of $44.50 and a 52-week high of $78.85.

Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings results on Friday, August 8th. The textile maker reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.27. Skechers U.S.A. had a net margin of 7.07% and a return on equity of 13.44%. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same period in the previous year, the firm earned $0.91 EPS. Skechers U.S.A.’s revenue was up 13.1% on a year-over-year basis. Sell-side analysts expect that Skechers U.S.A. will post 4.47 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SKX. Banque Transatlantique SA acquired a new position in shares of Skechers U.S.A. in the first quarter worth about $26,000. NewEdge Advisors LLC boosted its holdings in shares of Skechers U.S.A. by 85.2% in the fourth quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker’s stock worth $28,000 after buying an additional 190 shares during the period. Hantz Financial Services Inc. boosted its holdings in shares of Skechers U.S.A. by 297.5% in the second quarter. Hantz Financial Services Inc. now owns 477 shares of the textile maker’s stock worth $30,000 after buying an additional 357 shares during the period. Investment Management Corp VA ADV acquired a new position in shares of Skechers U.S.A. in the fourth quarter worth about $32,000. Finally, Parallel Advisors LLC boosted its holdings in shares of Skechers U.S.A. by 183.0% in the first quarter. Parallel Advisors LLC now owns 617 shares of the textile maker’s stock worth $35,000 after buying an additional 399 shares during the period. 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.