Skechers USA (SKX) Given a $45.00 Price Target by B. Riley Analysts
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.
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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