Fintel reports that on September 18, 2023, Piper Sandler upgraded their outlook for Skechers U S A, Inc. – (NYSE:SKX) from Neutral to Overweight.

Analyst Price Forecast Suggests 33.37% Upside

As of August 31, 2023, the average one-year price target for Skechers U S A, Inc. – is 63.19. The forecasts range from a low of 49.49 to a high of $78.75. The average price target represents an increase of 33.37% from its latest reported closing price of 47.38.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Skechers U S A, Inc. – is 8,100MM, an increase of 4.23%. The projected annual non-GAAP EPS is 3.08.

What is the Fund Sentiment?

There are 776 funds or institutions reporting positions in Skechers U S A, Inc. -. This is an increase of 48 owner(s) or 6.59% in the last quarter. Average portfolio weight of all funds dedicated to SKX is 0.24%, an increase of 2.26%. Total shares owned by institutions decreased in the last three months by 1.13% to 140,946K shares. The put/call ratio of SKX is 0.83, indicating a bullish outlook.

What are Other Shareholders Doing?

FDGRX – Fidelity Growth Company Fund holds 7,003K shares representing 4.53% ownership of the company. In it’s prior filing, the firm reported owning 6,958K shares, representing an increase of 0.64%. The firm increased its portfolio allocation in SKX by 3.29% over the last quarter.

Massachusetts Financial Services holds 4,658K shares representing 3.01% ownership of the company. In it’s prior filing, the firm reported owning 6,112K shares, representing a decrease of 31.22%. The firm decreased its portfolio allocation in SKX by 18.67% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 4,198K shares representing 2.71% ownership of the company. In it’s prior filing, the firm reported owning 4,152K shares, representing an increase of 1.09%. The firm increased its portfolio allocation in SKX by 3.37% over the last quarter.

IJH – iShares Core S&P Mid-Cap ETF holds 4,073K shares representing 2.63% ownership of the company. In it’s prior filing, the firm reported owning 4,140K shares, representing a decrease of 1.66%. The firm increased its portfolio allocation in SKX by 4.42% over the last quarter.

Pzena Investment Management holds 3,982K shares representing 2.57% ownership of the company. In it’s prior filing, the firm reported owning 6,196K shares, representing a decrease of 55.59%. The firm decreased its portfolio allocation in SKX by 29.59% 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.

This article originally appeared on Fintel

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