Skechers U.S.A. (NYSE:SKX) Stock Price Up 1.3% – Time to Buy?

Skechers U.S.A., Inc. (NYSE:SKX)’s stock price was up 1.3% during trading on Thursday . The company traded as high as $60.03 and last traded at $60.09. Approximately 414,532 shares changed hands during trading, a decline of 79% from the average daily volume of 1,958,722 shares. The stock had previously closed at $59.34.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Raymond James cut their price target on Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. StockNews.com cut Skechers U.S.A. from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. TD Cowen increased 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. Stifel Nicolaus cut their price target on shares of Skechers U.S.A. from $83.00 to $80.00 and set a “buy” rating for the company in a report on Friday, February 7th. Finally, Barclays reduced their price objective on shares of Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Skechers U.S.A. has a consensus rating of “Moderate Buy” and a consensus price target of $81.25.

Skechers U.S.A. Stock Performance

The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01. The stock’s fifty day simple moving average is $68.36 and its 200 day simple moving average is $66.47. The company has a market cap of $8.89 billion, a price-to-earnings ratio of 14.19, a P/E/G ratio of 1.11 and a beta of 1.21.

Skechers U.S.A. (NYSE:SKX) last posted 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%. As a group, analysts anticipate that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

Insider Activity at Skechers U.S.A.

In other news, CEO Robert Greenberg sold 52,600 shares of Skechers U.S.A. stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $62.72, for a total transaction of $3,299,072.00. Following the sale, the chief executive officer now owns 61,367 shares of the company’s stock, valued at approximately $3,848,938.24. The trade was a 46.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO John M. Vandemore sold 5,112 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 $310,605.12. Following the completion of the transaction, the chief financial officer now owns 83,328 shares in the company, valued at $5,063,009.28. This represents a 5.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 236,738 shares of company stock valued at $14,700,809. 24.75% of the stock is owned by company insiders.

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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SKX. Pacer Advisors Inc. increased its position in shares of Skechers U.S.A. by 5,780.6% during the 3rd quarter. Pacer Advisors Inc. now owns 2,639,390 shares of the textile maker’s stock worth $176,628,000 after purchasing an additional 2,594,507 shares during the last quarter. Norges Bank purchased a new position in Skechers U.S.A. during the fourth quarter worth about $105,741,000. Duquesne Family Office LLC acquired a new stake in shares of Skechers U.S.A. during the fourth quarter valued at about $72,272,000. Two Sigma Investments LP raised its stake in shares of Skechers U.S.A. by 772.7% in the 4th quarter. Two Sigma Investments LP now owns 1,176,488 shares of the textile maker’s stock valued at $79,107,000 after acquiring an additional 1,041,677 shares during the period. Finally, Anomaly Capital Management LP raised its stake in shares of Skechers U.S.A. by 51.2% in the 4th quarter. Anomaly Capital Management LP now owns 2,989,015 shares of the textile maker’s stock valued at $200,981,000 after acquiring an additional 1,011,815 shares during the period. Hedge funds and other institutional investors own 79.96% of the company’s stock.

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.