Skechers USA (NYSE:SKX) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a report released on Friday.

Several other research analysts also recently weighed in on the company. Wells Fargo & Co set a $30.00 target price on Skechers USA and gave the stock a “hold” rating in a research note on Friday. B. Riley set a $45.00 target price on Skechers USA and gave the stock a “buy” rating in a research note on Friday. Buckingham Research reduced their target price on Skechers USA from $35.00 to $30.00 and set a “buy” rating for the company in a research note on Wednesday. OTR Global downgraded Skechers USA to a “positive” rating in a research note on Tuesday, October 9th. Finally, Citigroup downgraded Skechers USA from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 2nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. Skechers USA currently has a consensus rating of “Hold” and an average price target of $35.29.

Shares of SKX stock opened at $29.72 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.28 and a quick ratio of 2.14. The company has a market cap of $4.16 billion, a PE ratio of 16.70, a price-to-earnings-growth ratio of 1.53 and a beta of 0.36. Skechers USA has a 1-year low of $23.80 and a 1-year high of $43.08.

Skechers USA (NYSE:SKX) last announced its earnings results on Thursday, October 18th. The textile maker reported $0.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.07. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.22 billion. Skechers USA had a return on equity of 14.01% and a net margin of 4.13%. The business’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.59 EPS. On average, sell-side analysts forecast that Skechers USA will post 1.71 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the stock. US Bancorp DE increased its position in shares of Skechers USA by 169.5% during the second quarter. US Bancorp DE now owns 4,069 shares of the textile maker’s stock worth $122,000 after purchasing an additional 2,559 shares in the last quarter. NumerixS Investment Technologies Inc purchased a new stake in shares of Skechers USA during the second quarter worth approximately $141,000. Cornerstone Wealth Management LLC purchased a new stake in shares of Skechers USA during the third quarter worth approximately $201,000. Strs Ohio purchased a new stake in shares of Skechers USA during the second quarter worth approximately $184,000. Finally, Creative Planning purchased a new stake in shares of Skechers USA during the second quarter worth approximately $211,000. Hedge funds and other institutional investors own 70.90% of the company’s stock.

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.

Featured Article: Find a Trading Strategy That Works

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Skechers USA (NYSE:SKX)

Receive News & Ratings for Skechers USA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Skechers USA and related companies with MarketBeat.com's FREE daily email newsletter.