Skechers U.S.A. (NYSE:SKX) Cut to Hold at StockNews.com

StockNews.com downgraded shares of Skechers U.S.A. (NYSE:SKX) from a buy rating to a hold rating in a research report released on Monday.

Several other brokerages also recently commented on SKX. Deutsche Bank Aktiengesellschaft boosted their price objective on Skechers U.S.A. from $83.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Barclays cut their price objective on Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating for the company in a research report on Monday. Piper Sandler started coverage on Skechers U.S.A. in a research report on Tuesday, December 10th. They issued a “neutral” rating and a $65.00 target price on the stock. Bank of America decreased their price objective on Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Finally, Stifel Nicolaus reduced their price target on shares of Skechers U.S.A. from $83.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $81.25.

Skechers U.S.A. Trading Down 1.4 %

Shares of Skechers U.S.A. stock opened at $63.03 on Monday. Skechers U.S.A. has a 1-year low of $55.67 and a 1-year high of $78.85. The company’s fifty day simple moving average is $70.43 and its 200-day simple moving average is $66.50. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.96 and a quick ratio of 1.25. The stock has a market capitalization of $9.52 billion, a PE ratio of 15.19, a P/E/G ratio of 0.95 and a beta of 1.19.

Skechers U.S.A. (NYSE:SKX) last posted its quarterly earnings data on Thursday, February 6th. The textile maker reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates 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, equities analysts anticipate that Skechers U.S.A. will post 4.79 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Trading of Skechers U.S.A.

Several large investors have recently added to or reduced their stakes in SKX. Sanctuary Advisors LLC raised its position in Skechers U.S.A. by 88.1% during the 3rd 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. Victory Capital Management Inc. boosted its holdings in 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 purchasing an additional 25,289 shares during the last quarter. Transform Wealth LLC acquired a new stake in Skechers U.S.A. during the 3rd quarter worth about $7,186,000. National Bank of Canada FI raised its stake in shares of Skechers U.S.A. by 2,340.0% during 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. lifted its holdings in shares of Skechers U.S.A. by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,316,882 shares of the textile maker’s stock valued at $88,126,000 after buying an additional 17,429 shares during the period. Hedge funds and other 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.