Skechers U.S.A., Inc. (NYSE:SKX) had its price target hoisted by equities researchers at Morgan Stanley from $28.50 to $31.00 in a research report issued on Friday. The firm presently has an “equal weight” rating on the textile maker’s stock. Morgan Stanley’s target price suggests a potential upside of 29.01% from the company’s current price.

Several other brokerages also recently commented on SKX. BidaskClub upgraded Skechers U.S.A. from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. Susquehanna Bancshares Inc restated a “positive” rating and issued a $34.00 target price (up previously from $32.00) on shares of Skechers U.S.A. in a research note on Sunday, July 23rd. B. Riley restated a “buy” rating and issued a $37.00 target price on shares of Skechers U.S.A. in a research note on Friday, July 21st. Vetr downgraded Skechers U.S.A. from a “strong-buy” rating to a “buy” rating and set a $32.17 target price for the company. in a research note on Tuesday, July 25th. Finally, Cowen and Company set a $35.00 target price on Skechers U.S.A. and gave the stock a “buy” rating in a research note on Saturday, July 22nd. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $31.83.

Shares of Skechers U.S.A. (NYSE:SKX) opened at 24.03 on Friday. Skechers U.S.A. has a 12 month low of $18.81 and a 12 month high of $30.00. The stock has a 50 day moving average of $25.32 and a 200-day moving average of $26.40. The company has a market cap of $3.81 billion, a PE ratio of 16.66 and a beta of 0.19.

Skechers U.S.A. (NYSE:SKX) last issued its earnings results on Thursday, October 19th. The textile maker reported $0.59 EPS for the quarter, topping the consensus estimate of $0.43 by $0.16. Skechers U.S.A. had a return on equity of 12.79% and a net margin of 5.92%. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the company earned $0.42 EPS. The firm’s revenue was up 16.2% compared to the same quarter last year. Equities analysts forecast that Skechers U.S.A. will post $1.56 earnings per share for the current year.

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In other news, General Counsel Phillip Paccione sold 1,004 shares of Skechers U.S.A. stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $27.24, for a total transaction of $27,348.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 21.73% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Alps Advisors Inc. boosted its position in shares of Skechers U.S.A. by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 18,304 shares of the textile maker’s stock valued at $540,000 after acquiring an additional 47 shares during the last quarter. Northwestern Mutual Investment Management Company LLC lifted its position in Skechers U.S.A. by 0.3% in the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 23,053 shares of the textile maker’s stock worth $633,000 after buying an additional 75 shares during the last quarter. Prescott Group Capital Management L.L.C. lifted its position in Skechers U.S.A. by 0.3% in the 1st quarter. Prescott Group Capital Management L.L.C. now owns 32,100 shares of the textile maker’s stock worth $881,000 after buying an additional 100 shares during the last quarter. Utah Retirement Systems lifted its position in Skechers U.S.A. by 0.4% in the 1st quarter. Utah Retirement Systems now owns 23,700 shares of the textile maker’s stock worth $651,000 after buying an additional 100 shares during the last quarter. Finally, IFP Advisors Inc lifted its position in Skechers U.S.A. by 2.0% in the 1st quarter. IFP Advisors Inc now owns 7,409 shares of the textile maker’s stock worth $203,000 after buying an additional 147 shares during the last quarter. Hedge funds and other institutional investors own 70.52% of the company’s stock.

Skechers U.S.A. Company Profile

Skechers U.SA, Inc is a designer and marketer of Skechers-branded lifestyle footwear for men, women and children, and performance footwear for men and women under the Skechers GO brand name. The Company operates through three segments: domestic wholesale sales, international wholesale sales, and retail sales, which includes e-commerce sales.

Analyst Recommendations for Skechers U.S.A. (NYSE:SKX)

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