Shares of Skechers U.S.A., Inc. (NYSE:SKX - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the fourteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $70.00.
A number of research analysts have commented on the stock. Stifel Nicolaus cut their price target on shares of Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. StockNews.com assumed coverage on shares of Skechers U.S.A. in a research note on Wednesday, May 14th. They set a "sell" rating for the company. Barclays restated an "equal weight" rating and set a $63.00 price target (up previously from $53.00) on shares of Skechers U.S.A. in a research note on Tuesday, May 6th. Needham & Company LLC restated a "hold" rating on shares of Skechers U.S.A. in a research note on Tuesday, April 22nd. Finally, Evercore ISI cut their price target on shares of Skechers U.S.A. from $78.00 to $60.00 and set an "outperform" rating for the company in a research note on Thursday, April 17th.
Read Our Latest Research Report on SKX
Skechers U.S.A. Stock Performance
Shares of NYSE SKX traded down $0.15 during mid-day trading on Wednesday, hitting $61.95. The company had a trading volume of 4,771,907 shares, compared to its average volume of 3,045,286. 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 business's 50-day simple moving average is $53.97 and its 200-day simple moving average is $62.10. Skechers U.S.A. has a 12 month low of $44.50 and a 12 month high of $78.85. The firm has a market cap of $9.27 billion, a P/E ratio of 14.93, a PEG ratio of 1.11 and a beta of 1.06.
Skechers U.S.A. (NYSE:SKX - Get Free Report) last released its earnings results on Thursday, April 24th. The textile maker reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.17. Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. The business had revenue of $2.41 billion during the quarter, compared to analysts' expectations of $2.43 billion. During the same quarter last year, the company earned $1.33 earnings per share. The firm's revenue was up 7.1% on a year-over-year basis. As a group, analysts predict that Skechers U.S.A. will post 4.47 earnings per share for the current fiscal year.
Insider Activity at Skechers U.S.A.
In related news, COO David Weinberg sold 26,913 shares of the firm'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 $1,635,233.88. Following the completion of the sale, the chief operating officer now owns 44,637 shares of the company's stock, valued at $2,712,144.12. This trade represents a 37.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Robert Greenberg sold 40,924 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $60.76, for a total transaction of $2,486,542.24. Following the sale, the chief executive officer now owns 51,342 shares of the company's stock, valued at $3,119,539.92. The trade was a 44.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 129,645 shares of company stock valued at $7,895,910 over the last quarter. Corporate insiders own 24.78% of the company's stock.
Hedge Funds Weigh In On Skechers U.S.A.
Several hedge funds have recently added to or reduced their stakes in the stock. Banque Transatlantique SA bought a new stake in shares of Skechers U.S.A. in the 1st quarter valued at $26,000. NewEdge Advisors LLC boosted its position in shares of Skechers U.S.A. by 85.2% during the fourth quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker's stock worth $28,000 after buying an additional 190 shares during the period. TD Private Client Wealth LLC increased its stake in Skechers U.S.A. by 534.3% in the 4th quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker's stock valued at $29,000 after buying an additional 358 shares during the last quarter. Investment Management Corp VA ADV acquired a new stake in Skechers U.S.A. in the 4th quarter valued at $32,000. Finally, Parallel Advisors LLC increased its stake in Skechers U.S.A. by 183.0% in the 1st quarter. Parallel Advisors LLC now owns 617 shares of the textile maker's stock valued at $35,000 after buying an additional 399 shares during the last quarter. Institutional investors and hedge funds own 79.96% of the company's stock.
Skechers U.S.A. Company Profile
(
Get Free ReportSkechers 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.
Recommended Stories
Before you consider Skechers U.S.A., you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Skechers U.S.A. wasn't on the list.
While Skechers U.S.A. currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
