Skechers U.S.A. (NYSE:SKX) Shares Gap Up – Should You Buy?

Skechers U.S.A., Inc. (NYSE:SKX) gapped up prior to trading on Tuesday . The stock had previously closed at $65.65, but opened at $68.34. Skechers U.S.A. shares last traded at $68.81, with a volume of 545,890 shares trading hands.

Wall Street Analyst Weigh In

SKX has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Skechers U.S.A. from $83.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Morgan Stanley increased their price target on Skechers U.S.A. from $81.00 to $84.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. TD Cowen reduced their price objective on Skechers U.S.A. from $78.00 to $76.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Needham & Company LLC started coverage on shares of Skechers U.S.A. in a report on Friday, November 22nd. They issued a “hold” rating for the company. Finally, StockNews.com cut Skechers U.S.A. from a “buy” rating to a “hold” rating in a research note on Monday, November 25th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $78.09.

Skechers U.S.A. Trading Up 5.3 %

The stock has a 50-day simple moving average of $63.44 and a two-hundred day simple moving average of $66.04. The firm has a market capitalization of $10.44 billion, a P/E ratio of 16.17, a price-to-earnings-growth ratio of 0.89 and a beta of 1.22. The company has a current ratio of 1.96, a quick ratio of 1.25 and a debt-to-equity ratio of 0.01.

Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings data on Thursday, October 24th. The textile maker reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.11. The firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.31 billion. Skechers U.S.A. had a net margin of 7.19% and a return on equity of 13.71%. The company’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period last year, the firm earned $0.93 earnings per share. On average, equities research analysts anticipate that Skechers U.S.A., Inc. will post 4.25 earnings per share for the current year.

Institutional Investors Weigh In On Skechers U.S.A.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SKX. Tidal Investments LLC increased its holdings in shares of Skechers U.S.A. by 24.3% during the third quarter. Tidal Investments LLC now owns 51,827 shares of the textile maker’s stock valued at $3,468,000 after acquiring an additional 10,122 shares in the last quarter. World Investment Advisors LLC acquired a new position in Skechers U.S.A. during the 3rd quarter valued at approximately $1,182,000. Sanctuary Advisors LLC raised its holdings in shares of Skechers U.S.A. by 88.1% in the third quarter. Sanctuary Advisors LLC now owns 29,538 shares of the textile maker’s stock worth $1,822,000 after buying an additional 13,836 shares during the last quarter. Te Ahumairangi Investment Management Ltd lifted its stake in shares of Skechers U.S.A. by 31.0% during the third quarter. Te Ahumairangi Investment Management Ltd now owns 89,950 shares of the textile maker’s stock worth $5,985,000 after buying an additional 21,275 shares during the period. Finally, Neo Ivy Capital Management purchased a new stake in shares of Skechers U.S.A. during the third quarter valued at $2,402,000. 79.96% of the stock is currently owned by hedge funds and other institutional investors.

Skechers U.S.A. Company Profile

Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children worldwide. The company operates through Wholesale and Direct-to-Consumer segments. It offers footwear under Skechers Hands Free Slip-ins, Skechers Arch Fit, and Skechers Air-Cooled Memory Foam brands.