Skechers U.S.A. (NYSE:SKX) Earns Hold Rating from Analysts at Needham & Company LLC

Needham & Company LLC began coverage on shares of Skechers U.S.A. (NYSE:SKX) in a report issued on Friday morning, Marketbeat.com reports. The firm issued a hold rating on the textile maker’s stock.

A number of other equities analysts have also issued reports on the company. StockNews.com raised Skechers U.S.A. from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. TD Cowen decreased their price target on Skechers U.S.A. from $78.00 to $76.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Stifel Nicolaus increased their price target on Skechers U.S.A. from $81.00 to $83.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Wedbush increased their price target on Skechers U.S.A. from $76.00 to $79.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Finally, Evercore ISI increased their price target on Skechers U.S.A. from $68.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Skechers U.S.A. has a consensus rating of “Moderate Buy” and a consensus target price of $78.09.

Skechers U.S.A. Stock Performance

Shares of SKX stock opened at $61.69 on Friday. Skechers U.S.A. has a 12-month low of $54.95 and a 12-month high of $75.09. The firm has a market capitalization of $9.31 billion, a price-to-earnings ratio of 15.19, a price-to-earnings-growth ratio of 0.85 and a beta of 1.23. The business has a 50 day simple moving average of $63.61 and a 200 day simple moving average of $66.24. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.96 and a quick ratio of 1.25.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings data on Thursday, October 24th. The textile maker reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same period in the prior year, the company posted $0.93 EPS. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. On average, equities research analysts anticipate that Skechers U.S.A. will post 4.25 EPS for the current year.

Institutional Trading of Skechers U.S.A.

A number of hedge funds have recently modified their holdings of the business. Te Ahumairangi Investment Management Ltd lifted its holdings in shares of Skechers U.S.A. by 31.0% in the third quarter. Te Ahumairangi Investment Management Ltd now owns 89,950 shares of the textile maker’s stock valued at $5,985,000 after purchasing an additional 21,275 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in shares of Skechers U.S.A. during the third quarter worth $2,402,000. Geode Capital Management LLC raised its holdings in shares of Skechers U.S.A. by 0.5% during the third quarter. Geode Capital Management LLC now owns 2,216,905 shares of the textile maker’s stock worth $148,395,000 after acquiring an additional 11,026 shares in the last quarter. Foyston Gordon & Payne Inc purchased a new stake in shares of Skechers U.S.A. during the third quarter worth $207,000. Finally, Vestcor Inc purchased a new stake in shares of Skechers U.S.A. during the third quarter worth $730,000. Hedge funds and other institutional investors own 79.96% of the company’s stock.

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.