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

Skechers U.S.A., Inc. (NYSE:SKX) has been given a consensus recommendation of “Moderate Buy” by the thirteen analysts that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $81.25.

SKX has been the subject of a number of analyst reports. TD Cowen increased their price target on 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. Needham & Company LLC reissued a “hold” rating on shares of Skechers U.S.A. in a research report on Friday, February 7th. Evercore ISI increased their price objective on shares of Skechers U.S.A. from $72.00 to $85.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. StockNews.com lowered Skechers U.S.A. from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Finally, Raymond James decreased their price objective on shares of Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating for the company in a report on Friday, February 7th.

Skechers U.S.A. Stock Performance

Shares of SKX stock opened at $60.73 on Friday. Skechers U.S.A. has a 12 month low of $55.67 and a 12 month high of $78.85. The firm has a market capitalization of $9.17 billion, a PE ratio of 14.63, a price-to-earnings-growth ratio of 1.11 and a beta of 1.19. The firm has a fifty day simple moving average of $69.04 and a two-hundred day simple moving average of $66.58. 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 results on Thursday, February 6th. The textile maker reported $0.65 earnings per share 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 13.73%. Analysts forecast that Skechers U.S.A. will post 4.47 EPS for the current fiscal year.

Insiders Place Their Bets

In other Skechers U.S.A. news, COO David Weinberg sold 8,219 shares of the company’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 $554,618.12. Following the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark A. Nason sold 12,046 shares of Skechers U.S.A. stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $66.08, for a total transaction of $795,999.68. Following the sale, the executive vice president now owns 25,675 shares of the company’s stock, valued at approximately $1,696,604. The trade was a 31.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 119,139 shares of company stock worth $7,600,899 over the last 90 days. Corporate insiders own 24.75% of the company’s stock.

Institutional Investors Weigh In On Skechers U.S.A.

Institutional investors have recently made changes to their positions in the business. Blue Trust Inc. grew its holdings in Skechers U.S.A. by 778.1% in the 3rd quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker’s stock worth $69,000 after acquiring an additional 887 shares during the last quarter. Raymond James & Associates boosted its holdings in shares of Skechers U.S.A. by 192.7% during the third quarter. Raymond James & Associates now owns 52,570 shares of the textile maker’s stock worth $3,518,000 after purchasing an additional 34,612 shares during the period. Private Advisor Group LLC purchased a new stake in shares of Skechers U.S.A. during the third quarter worth about $289,000. State of Alaska Department of Revenue grew its stake in shares of Skechers U.S.A. by 165.9% in the third quarter. State of Alaska Department of Revenue now owns 38,535 shares of the textile maker’s stock worth $2,578,000 after purchasing an additional 24,040 shares during the last quarter. Finally, Integrated Advisors Network LLC purchased a new position in Skechers U.S.A. during the 3rd quarter valued at about $229,000. Hedge funds and other institutional investors own 79.96% of the company’s stock.

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.