Skechers U.S.A., Inc. (NYSE:SKX) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Skechers U.S.A., Inc. (NYSE:SKX) have earned an average recommendation of “Moderate Buy” from the thirteen analysts that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $80.42.

A number of research firms have weighed in on SKX. Evercore ISI lifted their price objective on Skechers U.S.A. from $72.00 to $85.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Raymond James lowered their price target on Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Barclays dropped 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 note on Monday, February 10th. Needham & Company LLC restated a “hold” rating on shares of Skechers U.S.A. in a research note on Friday, February 7th. Finally, Bank of America cut their price target on shares of Skechers U.S.A. from $76.00 to $70.00 and set a “buy” rating for the company in a report on Monday, March 24th.

Insider Activity at Skechers U.S.A.

In other news, CEO Robert Greenberg sold 52,600 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $62.72, for a total value of $3,299,072.00. Following the transaction, the chief executive officer now owns 61,367 shares of the company’s stock, valued at approximately $3,848,938.24. This trade represents a 46.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO David Weinberg sold 36,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total transaction of $2,257,920.00. Following the sale, the chief operating officer now directly owns 54,499 shares of the company’s stock, valued at approximately $3,418,177.28. This trade represents a 39.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 218,245 shares of company stock valued at $13,452,902 over the last quarter. Corporate insiders own 24.75% of the company’s stock.

Institutional Trading of Skechers U.S.A.

A number of institutional investors have recently bought and sold shares of the business. NewEdge Advisors LLC increased its stake in shares of Skechers U.S.A. by 85.2% in the 4th quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker’s stock valued at $28,000 after acquiring an additional 190 shares during the last quarter. TD Private Client Wealth LLC increased its stake in Skechers U.S.A. by 534.3% in the fourth quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker’s stock valued at $29,000 after purchasing an additional 358 shares in the last quarter. Investment Management Corp VA ADV bought a new stake in Skechers U.S.A. in the fourth quarter valued at approximately $32,000. UMB Bank n.a. raised its holdings in Skechers U.S.A. by 53.1% in the fourth quarter. UMB Bank n.a. now owns 689 shares of the textile maker’s stock worth $46,000 after purchasing an additional 239 shares during the period. Finally, IFP Advisors Inc boosted its position in shares of Skechers U.S.A. by 62.4% during the fourth quarter. IFP Advisors Inc now owns 825 shares of the textile maker’s stock worth $55,000 after purchasing an additional 317 shares in the last quarter. Institutional investors and hedge funds own 79.96% of the company’s stock.

Skechers U.S.A. Price Performance

Shares of NYSE:SKX opened at $56.81 on Tuesday. The firm has a market capitalization of $8.49 billion, a PE ratio of 13.69, a PEG ratio of 1.11 and a beta of 1.21. Skechers U.S.A. has a 1-year low of $53.79 and a 1-year high of $78.85. The business’s 50 day moving average is $64.01 and its 200-day moving average is $65.14. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings data on Thursday, February 6th. The textile maker reported $0.65 earnings per share (EPS) 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 13.73%. Sell-side analysts predict that Skechers U.S.A. will post 4.47 earnings per share for the current year.

Skechers U.S.A. Company Profile

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.