Skechers U.S.A., Inc. (NYSE:SKX) received a $37.00 price target from analysts at B. Riley in a research note issued on Friday. The brokerage currently has a “buy” rating on the textile maker’s stock. B. Riley’s price objective indicates a potential upside of 8.86% from the company’s previous close.

Several other brokerages also recently commented on SKX. Vetr downgraded Skechers U.S.A. from a “strong-buy” rating to a “buy” rating and set a $32.17 price target on the stock. in a research report on Tuesday, July 25th. BidaskClub raised Skechers U.S.A. from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. Cowen and Company set a $35.00 price target on Skechers U.S.A. and gave the stock a “buy” rating in a research report on Monday, August 14th. Zacks Investment Research downgraded Skechers U.S.A. from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Finally, OTR Global raised Skechers U.S.A. from a “mixed” rating to a “positive” rating in a research report on Tuesday, July 18th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $34.02.

Skechers U.S.A. (SKX) traded up 41.45% during mid-day trading on Friday, hitting $33.99. 35,080,765 shares of the stock were exchanged. Skechers U.S.A. has a one year low of $19.02 and a one year high of $34.33. The company has a market cap of $5.39 billion, a P/E ratio of 23.57 and a beta of 0.19. The company has a 50-day moving average price of $25.54 and a 200-day moving average price of $26.45.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings results on Thursday, October 19th. The textile maker reported $0.59 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.16. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.07 billion. Skechers U.S.A. had a return on equity of 12.79% and a net margin of 5.92%. The company’s revenue for the quarter was up 16.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.42 EPS. On average, analysts predict that Skechers U.S.A. will post $1.56 earnings per share for the current fiscal year.

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

A number of large investors have recently made changes to their positions in SKX. US Bancorp DE grew its position in Skechers U.S.A. by 94.9% in the first quarter. US Bancorp DE now owns 3,895 shares of the textile maker’s stock valued at $107,000 after acquiring an additional 1,897 shares during the period. UBS Asset Management Americas Inc. grew its position in Skechers U.S.A. by 23.6% in the first quarter. UBS Asset Management Americas Inc. now owns 86,746 shares of the textile maker’s stock valued at $2,381,000 after acquiring an additional 16,578 shares during the period. Sei Investments Co. grew its position in Skechers U.S.A. by 9.6% in the first quarter. Sei Investments Co. now owns 17,407 shares of the textile maker’s stock valued at $477,000 after acquiring an additional 1,520 shares during the period. JPMorgan Chase & Co. grew its position in Skechers U.S.A. by 301.5% in the first quarter. JPMorgan Chase & Co. now owns 403,556 shares of the textile maker’s stock valued at $11,079,000 after acquiring an additional 303,040 shares during the period. Finally, Credit Agricole S A grew its position in Skechers U.S.A. by 14.5% in the first quarter. Credit Agricole S A now owns 34,106 shares of the textile maker’s stock valued at $936,000 after acquiring an additional 4,313 shares during the period. Hedge funds and other institutional investors own 70.52% of the company’s stock.

About Skechers U.S.A.

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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