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

Skechers U.S.A., Inc. (NYSE:SKX) has been given an average recommendation of “Moderate Buy” by the thirteen research firms that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $80.42.

Several equities research analysts have commented on SKX shares. UBS Group lowered their price target on shares of Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Stifel Nicolaus dropped 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 note on Friday, February 7th. Barclays decreased their price objective on shares of Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. TD Cowen raised their target price 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. Finally, 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.

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

In related news, General Counsel Phillip Paccione sold 10,994 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $56.63, for a total value of $622,590.22. Following the sale, the general counsel now directly owns 15,000 shares in the company, valued at $849,450. The trade was a 42.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert Greenberg sold 40,924 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $60.76, for a total value of $2,486,542.24. Following the completion of the sale, the chief executive officer now directly owns 51,342 shares in the company, valued at approximately $3,119,539.92. The trade was a 44.35 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 236,738 shares of company stock valued at $14,700,809. Corporate insiders own 24.75% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. NewEdge Advisors LLC grew its holdings in Skechers U.S.A. by 85.2% during the 4th quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker’s stock valued at $28,000 after purchasing an additional 190 shares in the last quarter. TD Private Client Wealth LLC increased its stake in shares of 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 during the period. Investment Management Corp VA ADV acquired a new stake in Skechers U.S.A. in the fourth quarter worth about $32,000. UMB Bank n.a. increased its stake in shares of Skechers U.S.A. by 53.1% during the fourth quarter. UMB Bank n.a. now owns 689 shares of the textile maker’s stock valued at $46,000 after acquiring an additional 239 shares during the period. Finally, IFP Advisors Inc raised its stake in shares of Skechers U.S.A. by 62.4% in the 4th quarter. IFP Advisors Inc now owns 825 shares of the textile maker’s stock worth $55,000 after buying an additional 317 shares in the last quarter. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Skechers U.S.A. Trading Up 4.2 %

SKX stock opened at $58.42 on Tuesday. 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 company has a market capitalization of $8.73 billion, a PE ratio of 14.08, a P/E/G ratio of 1.11 and a beta of 1.21. The firm’s 50-day moving average is $65.30 and its 200 day moving average is $65.44. Skechers U.S.A. has a 12 month low of $53.79 and a 12 month high of $78.85.

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 (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%. On average, research analysts anticipate that Skechers U.S.A. will post 4.47 EPS 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.