Skechers USA (SKX) Downgraded to “C+” at TheStreet

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TheStreet downgraded shares of Skechers USA (NYSE:SKX) from a b- rating to a c+ rating in a research report report published on Wednesday morning.

SKX has been the subject of several other research reports. B. Riley set a $50.00 target price on Skechers USA and gave the stock a buy rating in a research report on Tuesday, July 17th. Citigroup initiated coverage on Skechers USA in a research report on Wednesday, April 18th. They issued a buy rating and a $50.00 target price for the company. Buckingham Research upped their target price on Skechers USA from $31.00 to $35.00 and gave the stock a buy rating in a research report on Thursday. Wedbush decreased their target price on Skechers USA from $33.00 to $28.00 and set a neutral rating for the company in a research report on Friday, July 20th. Finally, Monness Crespi & Hardt decreased their target price on Skechers USA from $50.00 to $45.00 and set a buy rating for the company in a research report on Friday, April 20th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $37.79.

Shares of NYSE SKX opened at $30.00 on Wednesday. Skechers USA has a 1-year low of $23.80 and a 1-year high of $43.08. The company has a quick ratio of 2.14, a current ratio of 3.28 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $4.66 billion, a PE ratio of 16.85, a P/E/G ratio of 1.69 and a beta of 0.22.

Skechers USA (NYSE:SKX) last issued its earnings results on Thursday, July 19th. The textile maker reported $0.29 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.12). Skechers USA had a return on equity of 14.17% and a net margin of 4.24%. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the previous year, the company earned $0.38 EPS. Skechers USA’s quarterly revenue was up 10.6% on a year-over-year basis. research analysts anticipate that Skechers USA will post 1.73 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Amalgamated Bank boosted its holdings in Skechers USA by 6.3% in the second quarter. Amalgamated Bank now owns 29,351 shares of the textile maker’s stock valued at $881,000 after purchasing an additional 1,738 shares during the last quarter. A.R.T. Advisors LLC boosted its holdings in Skechers USA by 7.5% in the first quarter. A.R.T. Advisors LLC now owns 27,270 shares of the textile maker’s stock valued at $1,060,000 after purchasing an additional 1,900 shares during the last quarter. Intact Investment Management Inc. boosted its holdings in Skechers USA by 34.5% in the second quarter. Intact Investment Management Inc. now owns 7,400 shares of the textile maker’s stock valued at $222,000 after purchasing an additional 1,900 shares during the last quarter. Mason Street Advisors LLC boosted its holdings in Skechers USA by 3.3% in the first quarter. Mason Street Advisors LLC now owns 68,142 shares of the textile maker’s stock valued at $2,650,000 after purchasing an additional 2,161 shares during the last quarter. Finally, Verity Asset Management Inc. boosted its holdings in Skechers USA by 26.1% in the second quarter. Verity Asset Management Inc. now owns 11,278 shares of the textile maker’s stock valued at $338,000 after purchasing an additional 2,334 shares during the last quarter. 73.20% of the stock is owned by hedge funds and other institutional investors.

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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