Skechers U.S.A. (NYSE:SKX) Price Target Lowered to $53.00 at Barclays

Skechers U.S.A. (NYSE:SKX) had its price objective decreased by Barclays from $77.00 to $53.00 in a research note issued to investors on Friday,Benzinga reports. Barclays currently has an overweight rating on the textile maker’s stock.

SKX has been the subject of several other reports. StockNews.com downgraded shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Raymond James reduced their target price on Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Evercore ISI dropped their price target on Skechers U.S.A. from $78.00 to $60.00 and set an “outperform” rating on the stock in a research note on Thursday, April 17th. Bank of America reduced their price objective on shares of Skechers U.S.A. from $76.00 to $70.00 and set a “buy” rating for the company in a research report on Monday, March 24th. Finally, TD Cowen increased their price objective on shares of Skechers U.S.A. from $88.00 to $93.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $71.62.

Skechers U.S.A. Trading Down 5.4 %

Skechers U.S.A. stock opened at $47.77 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12. The firm has a 50-day moving average of $54.81 and a 200-day moving average of $62.70. The company has a market cap of $7.13 billion, a price-to-earnings ratio of 11.51, a P/E/G ratio of 1.11 and a beta of 1.08. Skechers U.S.A. has a one year low of $44.50 and a one year high of $78.85.

Skechers U.S.A. (NYSE:SKX) last posted its quarterly earnings results on Thursday, April 24th. The textile maker reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.17. Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. The firm had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.43 billion. On average, equities analysts expect that Skechers U.S.A. will post 4.47 earnings per share for the current fiscal year.

Insider Buying and Selling at Skechers U.S.A.

In other news, CFO John M. Vandemore sold 5,112 shares of Skechers U.S.A. stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $60.76, for a total value of $310,605.12. Following the transaction, the chief financial officer now owns 83,328 shares in the company, valued at approximately $5,063,009.28. This trade represents a 5.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Robert Greenberg sold 52,600 shares of the company’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total value of $3,299,072.00. Following the sale, the chief executive officer now owns 61,367 shares of the company’s stock, valued at approximately $3,848,938.24. This represents a 46.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 218,245 shares of company stock valued at $13,452,902 in the last three months. Corporate insiders own 24.78% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Raymond James Financial Inc. bought a new position in Skechers U.S.A. in the 4th quarter valued at approximately $12,852,000. Schroder Investment Management Group increased its holdings in shares of Skechers U.S.A. by 11.3% during the fourth quarter. Schroder Investment Management Group now owns 177,343 shares of the textile maker’s stock worth $12,010,000 after buying an additional 18,024 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Skechers U.S.A. by 15.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 120,007 shares of the textile maker’s stock valued at $8,069,000 after acquiring an additional 15,874 shares during the last quarter. Nordea Investment Management AB acquired a new stake in shares of Skechers U.S.A. during the 4th quarter valued at $2,752,000. Finally, Delphi Management Inc. MA bought a new stake in Skechers U.S.A. during the 4th quarter worth $1,517,000. 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.