Posted by admin on Jul 21st, 2022

Skechers U.S.A., Inc. (NYSE:SKX – Get Rating)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $37.12, but opened at $35.99. Skechers U.S.A. shares last traded at $36.70, with a volume of 58,117 shares trading hands.

Several brokerages recently commented on SKX. TheStreet downgraded Skechers U.S.A. from a “b” rating to a “c+” rating in a report on Tuesday, May 17th. UBS Group dropped their target price on Skechers U.S.A. from $67.00 to $56.00 in a report on Friday, July 15th. StockNews.com began coverage on Skechers U.S.A. in a report on Thursday, March 31st. They set a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft dropped their target price on Skechers U.S.A. from $62.00 to $61.00 in a report on Monday, April 25th. Finally, Berenberg Bank reiterated a “buy” rating and set a $71.00 target price on shares of Skechers U.S.A. in a report on Tuesday, May 17th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Skechers U.S.A. currently has a consensus rating of “Moderate Buy” and an average target price of $56.67.

The company has a market cap of $6.03 billion, a price-to-earnings ratio of 7.93 and a beta of 1.32. The firm has a 50-day moving average price of $37.58 and a 200 day moving average price of $40.23. The company has a current ratio of 2.44, a quick ratio of 1.41 and a debt-to-equity ratio of 0.07.

Skechers U.S.A. (NYSE:SKX – Get Rating) last issued its earnings results on Tuesday, April 26th. The textile maker reported $0.77 EPS for the quarter, topping the consensus estimate of $0.72 by $0.05. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.69 billion. Skechers U.S.A. had a return on equity of 12.94% and a net margin of 11.45%. During the same quarter last year, the firm earned $0.63 EPS. As a group, sell-side analysts forecast that Skechers U.S.A., Inc. will post 2.86 EPS for the current year.

Several hedge funds have recently made changes to their positions in SKX. Marshall Wace LLP boosted its position in Skechers U.S.A. by 121.9% during the 4th quarter. Marshall Wace LLP now owns 5,450,266 shares of the textile maker’s stock valued at $236,541,000 after purchasing an additional 2,994,421 shares during the period. Theleme Partners LLP acquired a new position in Skechers U.S.A. during the 1st quarter valued at approximately $94,654,000. Pzena Investment Management LLC boosted its position in Skechers U.S.A. by 42.9% during the 1st quarter. Pzena Investment Management LLC now owns 6,904,844 shares of the textile maker’s stock valued at $281,441,000 after purchasing an additional 2,071,445 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Skechers U.S.A. by 11.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 6,845,963 shares of the textile maker’s stock valued at $297,115,000 after purchasing an additional 711,341 shares during the period. Finally, Point72 Asset Management L.P. acquired a new position in Skechers U.S.A. during the 4th quarter valued at approximately $26,759,000. Institutional investors and hedge funds own 79.71% of the company’s stock.

Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children; and performance footwear for men and women worldwide. The company operates through three segments: Domestic Wholesale, International Wholesale, and Direct-to-Consumer. It offers casual, casual athletic, sport athletic, trail, sandals, boots, and retro fashion footwear for men and women under the Skechers USA, Skechers Sport, Skechers Active, Modern Comfort, Skechers Street, Mark Nason, and BOBS brands; sneakers, casuals, boots, and sandals for boys and girls under the Skechers Mega-Craft, S-Lights, SKECH-AIR, Foamies, Twinkle Toes, Z-Strap, Skechers Stretch Fit, and Skechers Street brands; and technical footwear under the Skechers GOrun, Skechers GOwalk, Skechers GOtrain, Skechers GOtrail, and Skechers GO Golf brands.

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