Skechers USA (NYSE:SKX) was downgraded by Cfra from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.

A number of other research firms have also commented on SKX. Morgan Stanley set a $29.00 target price on Skechers USA and gave the stock a “hold” rating in a report on Friday. Wells Fargo & Co set a $30.00 target price on Skechers USA and gave the company a “hold” rating in a research report on Friday, October 19th. ValuEngine raised Skechers USA from a “hold” rating to a “buy” rating in a report on Friday, October 19th. B. Riley set a $45.00 price target on Skechers USA and gave the company a “buy” rating in a report on Friday, October 19th. Finally, Citigroup reduced their target price on Skechers USA from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Monday, October 22nd. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $31.95.

NYSE SKX opened at $31.91 on Friday. Skechers USA has a fifty-two week low of $21.45 and a fifty-two week high of $43.08. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.43 and a quick ratio of 2.29. The company has a market capitalization of $4.38 billion, a price-to-earnings ratio of 14.35, a price-to-earnings-growth ratio of 2.06 and a beta of 0.62.

Skechers USA (NYSE:SKX) last announced its earnings results on Thursday, February 7th. The textile maker reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.08. Skechers USA had a return on equity of 14.19% and a net margin of 6.49%. The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the prior year, the company earned $0.21 EPS. The business’s revenue was up 11.4% compared to the same quarter last year. As a group, research analysts expect that Skechers USA will post 1.92 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in SKX. Vanguard Group Inc. increased its holdings in Skechers USA by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 11,745,336 shares of the textile maker’s stock valued at $328,049,000 after purchasing an additional 239,133 shares during the last quarter. Vanguard Group Inc boosted its position in Skechers USA by 2.1% in the 3rd quarter. Vanguard Group Inc now owns 11,745,336 shares of the textile maker’s stock valued at $328,049,000 after buying an additional 239,133 shares during the period. Bank of New York Mellon Corp boosted its position in Skechers USA by 335.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 6,604,345 shares of the textile maker’s stock valued at $184,459,000 after buying an additional 5,087,296 shares during the period. AQR Capital Management LLC lifted its position in shares of Skechers USA by 20.8% during the 3rd quarter. AQR Capital Management LLC now owns 5,280,391 shares of the textile maker’s stock worth $147,481,000 after purchasing an additional 908,258 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its position in shares of Skechers USA by 3,516.2% during the 3rd quarter. Alliancebernstein L.P. now owns 2,903,543 shares of the textile maker’s stock worth $81,096,000 after purchasing an additional 2,823,250 shares during the last quarter. Institutional investors and hedge funds own 73.86% 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.

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Analyst Recommendations for Skechers USA (NYSE:SKX)

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