Skechers USA (NYSE:SKX) has been assigned a $45.00 price target by B. Riley in a research report issued to clients and investors on Friday. The brokerage presently has a “buy” rating on the textile maker’s stock. B. Riley’s target price indicates a potential upside of 52.08% from the stock’s previous close.

SKX has been the topic of a number of other research reports. Buckingham Research lifted their target price on shares of Skechers USA from $31.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, August 16th. Wedbush lowered their target price on shares of Skechers USA from $33.00 to $28.00 and set a “neutral” rating on the stock in a research note on Friday, July 20th. Morgan Stanley started coverage on shares of Skechers USA in a research note on Wednesday, August 1st. They set an “equal weight” rating and a $28.00 target price on the stock. Cowen cut shares of Skechers USA from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $32.00 to $28.00 in a research note on Thursday, September 20th. Finally, UBS Group started coverage on shares of Skechers USA in a research note on Thursday, June 21st. They set a “buy” rating and a $42.00 target price on the stock. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $35.79.

Shares of SKX traded up $3.47 during trading hours on Friday, reaching $29.59. 908,743 shares of the stock traded hands, compared to its average volume of 2,331,993. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.14 and a current ratio of 3.28. Skechers USA has a 52-week low of $23.80 and a 52-week high of $43.08. The stock has a market cap of $4.25 billion, a price-to-earnings ratio of 16.66, a price-to-earnings-growth ratio of 1.55 and a beta of 0.36.

Skechers USA (NYSE:SKX) last released its earnings results on Thursday, October 18th. The textile maker reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.07. Skechers USA had a net margin of 4.24% and a return on equity of 14.17%. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the previous year, the company earned $0.59 EPS. Skechers USA’s revenue for the quarter was up 7.5% on a year-over-year basis. On average, equities research analysts predict that Skechers USA will post 1.72 earnings per share for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. US Bancorp DE increased its holdings in Skechers USA by 169.5% in the 2nd quarter. US Bancorp DE now owns 4,069 shares of the textile maker’s stock valued at $122,000 after acquiring an additional 2,559 shares during the last quarter. NumerixS Investment Technologies Inc bought a new stake in Skechers USA in the 2nd quarter valued at $141,000. Strs Ohio bought a new stake in Skechers USA in the 2nd quarter valued at $184,000. Cornerstone Wealth Management LLC bought a new stake in Skechers USA in the 3rd quarter valued at $201,000. Finally, Creative Planning bought a new stake in Skechers USA in the 2nd quarter valued at $211,000. Institutional investors own 70.90% of the company’s stock.

About Skechers USA

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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