Fintel reports that on November 22, 2024, Needham initiated coverage of Skechers U.S.A. (NYSE:SKX) with a Hold recommendation.
Analyst Price Forecast Suggests 37.18% Upside
As of November 20, 2024, the average one-year price target for Skechers U.S.A. is $83.69/share. The forecasts range from a low of $72.72 to a high of $105.00. The average price target represents an increase of 37.18% from its latest reported closing price of $61.01 / share.
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The projected annual revenue for Skechers U.S.A. is 8,959MM, an increase of 2.77%. The projected annual non-GAAP EPS is 3.82.
What is the Fund Sentiment?
There are 985 funds or institutions reporting positions in Skechers U.S.A.. This is an increase of 7 owner(s) or 0.72% in the last quarter. Average portfolio weight of all funds dedicated to SKX is 0.22%, an increase of 2.78%. Total shares owned by institutions increased in the last three months by 4.87% to 144,609K shares. 
The put/call ratio of SKX is 1.59, indicating a bearish outlook.
What are Other Shareholders Doing?
BlackRock holds 13,173K shares representing 10.01% ownership of the company.
FDGRX - Fidelity Growth Company Fund holds 6,453K shares representing 4.90% ownership of the company. In its prior filing, the firm reported owning 6,622K shares , representing a decrease of 2.62%. The firm decreased its portfolio allocation in SKX by 10.63% over the last quarter.
Massachusetts Financial Services holds 4,363K shares representing 3.32% ownership of the company. In its prior filing, the firm reported owning 4,386K shares , representing a decrease of 0.52%. The firm decreased its portfolio allocation in SKX by 85.55% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 4,152K shares representing 3.15% ownership of the company. In its prior filing, the firm reported owning 4,212K shares , representing a decrease of 1.46%. The firm increased its portfolio allocation in SKX by 8.14% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 4,118K shares representing 3.13% ownership of the company. In its prior filing, the firm reported owning 4,159K shares , representing a decrease of 1.00%. The firm increased its portfolio allocation in SKX by 14.36% over the last quarter.
Skechers U S A Background Information
(This description is provided by the company.)
Based in Manhattan Beach, California, Skechers designs, develops and markets a diverse range of lifestyle and performance footwear, apparel and accessories for men, women and children. The Company's collections are available in the United States and over 170 countries and territories via department and specialty stores, and direct to consumers through 3,770 Company- and third-party-owned retail stores and e-commerce websites. The Company manages its international business through a network of global distributors, joint venture partners in Asia, Israel and Mexico, and wholly-owned subsidiaries in Canada, Japan, India, Europe and Latin America.
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