Skechers USA (NYSE:SKX) had its price objective lifted by Buckingham Research from $31.00 to $35.00 in a report published on Thursday. The brokerage currently has a buy rating on the textile maker’s stock.

SKX has been the topic of a number of other research reports. B. Riley set a $50.00 target price on Skechers USA and gave the company a buy rating in a report on Tuesday, July 17th. Citigroup initiated coverage on Skechers USA in a report on Wednesday, April 18th. They issued a buy rating and a $50.00 target price on the stock. Wedbush reduced their target price on Skechers USA from $33.00 to $28.00 and set a neutral rating on the stock in a report on Friday, July 20th. Monness Crespi & Hardt reduced their target price on Skechers USA from $50.00 to $45.00 and set a buy rating on the stock in a report on Friday, April 20th. Finally, Morgan Stanley initiated coverage on Skechers USA in a report on Wednesday, August 1st. They issued an equal weight rating and a $28.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $37.79.

Shares of NYSE:SKX opened at $30.00 on Thursday. The company has a market cap of $4.66 billion, a P/E ratio of 16.85, a P/E/G ratio of 1.69 and a beta of 0.22. Skechers USA has a 1 year low of $23.80 and a 1 year high of $43.08. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.14 and a current ratio of 3.28.

Skechers USA (NYSE:SKX) last issued its earnings results on Thursday, July 19th. The textile maker reported $0.29 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.12). The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.13 billion. Skechers USA had a net margin of 4.24% and a return on equity of 14.17%. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.38 EPS. analysts anticipate that Skechers USA will post 1.73 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NuWave Investment Management LLC raised its position in Skechers USA by 1,253.8% during the 1st quarter. NuWave Investment Management LLC now owns 2,667 shares of the textile maker’s stock worth $103,000 after purchasing an additional 2,470 shares during the last quarter. Braun Stacey Associates Inc. bought a new position in Skechers USA during the 1st quarter worth $13,648,000. SG Americas Securities LLC raised its position in Skechers USA by 27.1% during the 1st quarter. SG Americas Securities LLC now owns 29,182 shares of the textile maker’s stock worth $1,135,000 after purchasing an additional 6,228 shares during the last quarter. Mackay Shields LLC bought a new position in Skechers USA during the 1st quarter worth $8,379,000. Finally, Hodges Capital Management Inc. raised its position in Skechers USA by 62.5% during the 1st quarter. Hodges Capital Management Inc. now owns 16,250 shares of the textile maker’s stock worth $632,000 after purchasing an additional 6,250 shares during the last quarter. 73.20% of the stock is currently owned by institutional investors.

Skechers USA Company Profile

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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Analyst Recommendations for Skechers USA (NYSE:SKX)

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