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

Skechers U.S.A., Inc. (NYSE:SKX) has received an average rating of “Moderate Buy” from the twelve ratings firms that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $80.18.

Several brokerages have recently weighed in on SKX. Needham & Company LLC reiterated a “hold” rating on shares of Skechers U.S.A. in a research note on Wednesday, January 29th. Bank of America dropped their target price on Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Evercore ISI upped their price target on Skechers U.S.A. from $72.00 to $85.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. TD Cowen upped their price target 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. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Skechers U.S.A. from $83.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, October 25th.

Skechers U.S.A. Stock Performance

NYSE:SKX opened at $75.27 on Monday. The firm has a market capitalization of $11.36 billion, a PE ratio of 18.54, a price-to-earnings-growth ratio of 0.94 and a beta of 1.19. The business’s fifty day moving average price is $69.65 and its 200 day moving average price is $66.20. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.96 and a quick ratio of 1.25. Skechers U.S.A. has a 12 month low of $55.67 and a 12 month high of $78.85.

Insiders Place Their Bets

In other news, COO David Weinberg sold 8,219 shares of the company’s stock in a transaction 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 completion of the sale, the chief operating officer now directly owns 122,211 shares in the company, valued at $8,246,798.28. This represents a 6.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, President Michael Greenberg sold 10,274 shares of the company’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total value of $693,289.52. Following the sale, the president now owns 149,327 shares of the company’s stock, valued at approximately $10,076,585.96. The trade was a 6.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 24.75% of the company’s stock.

Institutional Trading of Skechers U.S.A.

Several large investors have recently added to or reduced their stakes in SKX. Spire Wealth Management grew its stake in shares of Skechers U.S.A. by 11.6% during the fourth quarter. Spire Wealth Management now owns 1,486 shares of the textile maker’s stock valued at $100,000 after acquiring an additional 155 shares in the last quarter. Calamos Wealth Management LLC grew its stake in shares of Skechers U.S.A. by 0.9% during the fourth quarter. Calamos Wealth Management LLC now owns 18,257 shares of the textile maker’s stock valued at $1,228,000 after acquiring an additional 157 shares in the last quarter. Lindenwold Advisors INC grew its stake in shares of Skechers U.S.A. by 3.0% during the third quarter. Lindenwold Advisors INC now owns 6,663 shares of the textile maker’s stock valued at $446,000 after acquiring an additional 195 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Skechers U.S.A. by 20.7% during the fourth quarter. Blue Trust Inc. now owns 1,208 shares of the textile maker’s stock valued at $81,000 after acquiring an additional 207 shares in the last quarter. Finally, CIBC Asset Management Inc grew its stake in shares of Skechers U.S.A. by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 4,166 shares of the textile maker’s stock valued at $280,000 after acquiring an additional 213 shares in the last quarter. 79.96% of the stock is currently owned by institutional investors and hedge funds.

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.