Skechers U.S.A., Inc. (NYSE:SKX) Given Consensus Recommendation of “Moderate Buy” by Analysts

Skechers U.S.A., Inc. (NYSE:SKX) has earned an average rating of “Moderate Buy” from the twelve ratings firms that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $66.83.

Several research analysts have recently weighed in on SKX shares. Evercore ISI lowered their price target on shares of Skechers U.S.A. from $73.00 to $68.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 17th. Barclays started coverage on shares of Skechers U.S.A. in a research report on Monday, April 1st. They set an “overweight” rating and a $71.00 price target on the stock. Raymond James lowered their price objective on Skechers U.S.A. from $68.00 to $66.00 and set an “outperform” rating for the company in a research report on Monday, February 5th. Stifel Nicolaus reduced their target price on Skechers U.S.A. from $72.00 to $70.00 and set a “buy” rating on the stock in a research report on Friday, February 2nd. Finally, Bank of America started coverage on Skechers U.S.A. in a report on Friday, March 8th. They set a “neutral” rating and a $67.00 price target for the company.

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

In related news, EVP Mark A. Nason sold 6,432 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $58.83, for a total value of $378,394.56. Following the sale, the executive vice president now owns 34,023 shares in the company, valued at approximately $2,001,573.09. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, COO David Weinberg sold 20,226 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $61.11, for a total value of $1,236,010.86. Following the sale, the chief operating officer now directly owns 99,655 shares in the company, valued at $6,089,917.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark A. Nason sold 6,432 shares of Skechers U.S.A. stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $58.83, for a total value of $378,394.56. Following the sale, the executive vice president now owns 34,023 shares of the company’s stock, valued at approximately $2,001,573.09. The disclosure for this sale can be found here. Over the last three months, insiders sold 88,346 shares of company stock valued at $5,384,159. Corporate insiders own 24.75% of the company’s stock.

Institutional Trading of Skechers U.S.A.

A number of hedge funds have recently bought and sold shares of SKX. Bfsg LLC grew its position in shares of Skechers U.S.A. by 2.9% in the fourth quarter. Bfsg LLC now owns 6,545 shares of the textile maker’s stock valued at $408,000 after purchasing an additional 186 shares during the period. QRG Capital Management Inc. raised its stake in Skechers U.S.A. by 2.0% during the first quarter. QRG Capital Management Inc. now owns 10,047 shares of the textile maker’s stock worth $615,000 after purchasing an additional 194 shares during the period. National Bank of Canada FI grew its stake in shares of Skechers U.S.A. by 7.1% during the 4th quarter. National Bank of Canada FI now owns 3,035 shares of the textile maker’s stock valued at $188,000 after buying an additional 200 shares during the period. Janney Capital Management LLC increased its holdings in shares of Skechers U.S.A. by 2.8% during the 3rd quarter. Janney Capital Management LLC now owns 8,646 shares of the textile maker’s stock worth $423,000 after buying an additional 233 shares during the last quarter. Finally, 1492 Capital Management LLC raised its position in shares of Skechers U.S.A. by 1.0% in the 4th quarter. 1492 Capital Management LLC now owns 26,270 shares of the textile maker’s stock worth $1,638,000 after buying an additional 259 shares during the period. Institutional investors and hedge funds own 79.96% of the company’s stock.

Skechers U.S.A. Trading Up 0.8 %

Shares of NYSE:SKX opened at $66.96 on Friday. The business has a 50-day moving average price of $60.76 and a 200-day moving average price of $59.08. The stock has a market cap of $10.26 billion, a price-to-earnings ratio of 17.62, a PEG ratio of 1.17 and a beta of 1.29. The company has a quick ratio of 1.56, a current ratio of 2.39 and a debt-to-equity ratio of 0.02. Skechers U.S.A. has a 52-week low of $45.58 and a 52-week high of $69.07.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings results on Thursday, April 25th. The textile maker reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.23. The company had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.20 billion. Skechers U.S.A. had a return on equity of 13.56% and a net margin of 7.17%. Skechers U.S.A.’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.02 earnings per share. Equities analysts predict that Skechers U.S.A. will post 4.07 EPS for the current year.

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.