Skechers USA (SKX) Stock Rating Upgraded by ValuEngine
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.
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.
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.