Skechers U.S.A. (NYSE:SKX) Price Target Cut to $77.00 by Analysts at Barclays

Skechers U.S.A. (NYSE:SKX) had its target price dropped by equities researchers at Barclays from $80.00 to $77.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the textile maker’s stock. Barclays‘s price objective would suggest a potential upside of 16.56% from the stock’s previous close.

A number of other equities analysts have also commented on SKX. UBS Group reduced their price target on shares of Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday. TD Cowen boosted their target price on Skechers U.S.A. from $88.00 to $93.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. StockNews.com raised Skechers U.S.A. from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Morgan Stanley boosted their price objective on Skechers U.S.A. from $81.00 to $84.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Finally, Stifel Nicolaus decreased their target price on Skechers U.S.A. from $83.00 to $80.00 and set a “buy” rating on the stock in a report on Friday. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Skechers U.S.A. currently has an average rating of “Moderate Buy” and a consensus price target of $81.25.

Skechers U.S.A. Price Performance

Shares of Skechers U.S.A. stock opened at $66.06 on Monday. Skechers U.S.A. has a twelve month low of $55.67 and a twelve month high of $78.85. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.25 and a current ratio of 1.96. The firm has a market cap of $9.97 billion, a P/E ratio of 15.92, a price-to-earnings-growth ratio of 0.95 and a beta of 1.19. The firm’s 50-day simple moving average is $70.55 and its 200-day simple moving average is $66.48.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings results on Thursday, February 6th. The textile maker reported $0.65 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.08). Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.81%. As a group, research analysts expect that Skechers U.S.A. will post 4.79 EPS for the current fiscal year.

Insider Activity at Skechers U.S.A.

In related news, President Michael Greenberg sold 10,274 shares of the business’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total value of $693,289.52. Following the completion of the transaction, the president now owns 149,327 shares of the company’s stock, valued at $10,076,585.96. The trade was a 6.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO David Weinberg sold 8,219 shares of Skechers U.S.A. stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total transaction of $554,618.12. Following the completion of the transaction, the chief operating officer now directly owns 122,211 shares in the company, valued at $8,246,798.28. This trade represents a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 24.75% of the stock is currently owned by company insiders.

Institutional Trading of Skechers U.S.A.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Sanctuary Advisors LLC increased its holdings in Skechers U.S.A. by 88.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 29,538 shares of the textile maker’s stock worth $1,822,000 after purchasing an additional 13,836 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Skechers U.S.A. by 22.3% in the third quarter. Victory Capital Management Inc. now owns 138,893 shares of the textile maker’s stock valued at $9,295,000 after buying an additional 25,289 shares during the period. Transform Wealth LLC bought a new position in Skechers U.S.A. in the 3rd quarter valued at approximately $7,186,000. National Bank of Canada FI raised its holdings in Skechers U.S.A. by 2,340.0% in the 3rd quarter. National Bank of Canada FI now owns 70,710 shares of the textile maker’s stock valued at $4,732,000 after buying an additional 67,812 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Skechers U.S.A. by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,316,882 shares of the textile maker’s stock worth $88,126,000 after buying an additional 17,429 shares during the period. Institutional investors own 79.96% of the company’s stock.

About Skechers U.S.A.

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.