Skechers U.S.A., Inc. (NYSE:SKX) Receives $80.42 Consensus PT from Brokerages

Skechers U.S.A., Inc. (NYSE:SKX) has earned an average rating of “Moderate Buy” from the thirteen analysts that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $80.42.

Several equities research analysts have issued reports on SKX shares. StockNews.com downgraded Skechers U.S.A. from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Raymond James cut their target price 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. Bank of America decreased their price target on Skechers U.S.A. from $76.00 to $70.00 and set a “buy” rating on the stock in a research report on Monday, March 24th. Barclays cut 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. Finally, TD Cowen upped their target price on shares of Skechers U.S.A. from $88.00 to $93.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th.

Insider Transactions at Skechers U.S.A.

In other Skechers U.S.A. news, CEO Robert Greenberg sold 52,600 shares of the 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 transaction, the chief executive officer now directly owns 61,367 shares in the company, valued at $3,848,938.24. This trade represents a 46.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Phillip Paccione sold 10,994 shares of Skechers U.S.A. stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $56.63, for a total transaction of $622,590.22. Following the transaction, the general counsel now directly owns 15,000 shares in the company, valued at $849,450. This trade represents a 42.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 236,738 shares of company stock valued at $14,700,809. Insiders own 24.75% of the company’s stock.

Institutional Trading of Skechers U.S.A.

Several hedge funds have recently added to or reduced their stakes in SKX. Spire Wealth Management boosted its stake in shares of Skechers U.S.A. by 11.6% during the fourth quarter. Spire Wealth Management now owns 1,486 shares of the textile maker’s stock valued at $100,000 after purchasing an additional 155 shares during the period. Calamos Wealth Management LLC raised its holdings in Skechers U.S.A. by 0.9% during the 4th quarter. Calamos Wealth Management LLC now owns 18,257 shares of the textile maker’s stock valued at $1,228,000 after buying an additional 157 shares during the last quarter. Cerity Partners LLC raised its holdings in Skechers U.S.A. by 1.2% during the 4th quarter. Cerity Partners LLC now owns 14,090 shares of the textile maker’s stock valued at $947,000 after buying an additional 172 shares during the last quarter. NewEdge Advisors LLC boosted its position 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 buying an additional 190 shares during the period. Finally, Independent Advisor Alliance grew its holdings in Skechers U.S.A. by 4.7% in the 4th quarter. Independent Advisor Alliance now owns 4,486 shares of the textile maker’s stock worth $302,000 after acquiring an additional 200 shares during the last quarter. 79.96% of the stock is owned by institutional investors.

Skechers U.S.A. Stock Down 1.6 %

SKX stock opened at $56.90 on Tuesday. The stock has a fifty day moving average of $64.28 and a 200-day moving average of $65.21. Skechers U.S.A. has a fifty-two week low of $53.79 and a fifty-two week high of $78.85. The company has a market capitalization of $8.50 billion, a price-to-earnings ratio of 13.71, a PEG ratio of 1.11 and a beta of 1.21. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.12 and a current ratio of 1.97.

Skechers U.S.A. (NYSE:SKX) last posted its 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 return on equity of 13.73% and a net margin of 7.13%. As a group, equities research analysts predict that Skechers U.S.A. will post 4.47 earnings per share 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.