Skechers USA (NYSE:SKX) receives new price target of $42.00 at Wedbush
Skechers USA (NYSE: SKX – Get Note) saw its price target lowered by Wedbush from $48.00 to $42.00 in a research report sent to investors on Wednesday morning, reports The Fly. Wedbush currently has an outperform rating on the textile maker’s stock. Wedbush also released Skechers USA earnings estimates for fiscal year 2022 at $2.64 EPS.
Other analysts have also recently released reports on the stock. StockNews.com assumed coverage of Skechers USA stocks in a Thursday, March 31 report. They issued a hold note on the stock. Deutsche Bank Aktiengesellschaft lowered its price target on Skechers USA shares from $64.00 to $51.00 and issued a hold rating on the stock in a Monday, July 25 report. TheStreet moved Skechers USA shares from an ab to a c+ rating in a Tuesday, May 17, report. Berenberg Bank reissued a buy rating and set a target price of $71.00 on Skechers USA shares in a Tuesday, May 17 report. Finally, UBS Group lowered its price target on Skechers USA shares from $67.00 to $56.00 in a Friday, July 15 report. One equity research analyst gave the stock a hold rating and nine gave the company a buy rating. According to data from MarketBeat, Skechers USA currently has a Moderate Buy consensus rating and a consensus target price of $50.78.
Performance of Skechers USA shares
NYSE:SKX shares opened at $37.96 on Wednesday. Skechers USA has a one-year low of $33.50 and a one-year high of $55.80. The company has a debt ratio of 0.07, a quick ratio of 1.41 and a current ratio of 2.44. The company has a market capitalization of $5.92 billion, a P/E ratio of 7.79 and a beta of 1.32. The company’s 50-day simple moving average is $37.66 and its 200-day simple moving average is $39.88.
Skechers USA Institutional Negotiation
A number of hedge funds have recently bought and sold shares of the company. Massachusetts Financial Services Co. MA increased its position in Skechers USA shares by 9.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 7,467,603 shares of the textile maker worth $304,379,000 after buying an additional 621,640 shares last quarter. Pzena Investment Management LLC increased its stake in Skechers USA by 42.9% in the first quarter. Pzena Investment Management LLC now owns 6,904,844 shares of the textile maker worth $281,441,000 after buying an additional 2,071,445 shares in the last quarter. Marshall Wace LLP increased its stake in Skechers USA by 121.9% in the fourth quarter. Marshall Wace LLP now owns 5,450,266 shares of the textile maker worth $236,541,000 after purchasing an additional 2,994,421 shares in the last quarter. State Street Corp increased its stake in Skechers USA by 3.0% in the fourth quarter. State Street Corp now owns 4,798,954 shares of the textile maker worth $208,275,000 after buying an additional 141,675 shares in the last quarter. Finally, Theleme Partners LLP acquired a new position in Skechers USA in the first quarter worth approximately $94,654,000. 79.71% of the shares are held by hedge funds and other institutional investors.
About Skechers Canada
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Skechers U.SA, Inc designs, develops, markets and distributes footwear for men, women and children; and performance footwear for men and women worldwide. The Company operates through three segments: Domestic Wholesale, International Wholesale and Direct-to-Consumer. It offers casual, athletic casual, athletic, trail shoes, sandals, boots and retro fashion shoes for men and women under the brands Skechers USA, Skechers Sport, Skechers Active, Modern Comfort, Skechers Street, Mark Nason and BOBS; sneakers, casual shoes, boots and sandals for boys and girls under the brands Skechers Mega-Craft, S-Lights, SKECH-AIR, Foamies, Twinkle Toes, Z-Strap, Skechers Stretch Fit and Skechers Street; and technical footwear under the Skechers GOrun, Skechers GOwalk, Skechers GOtrain, Skechers GOtrail and Skechers GO Golf brands.
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