Evercore ISI Issues Positive Forecast for Skechers U.S.A. (NYSE:SKX) Stock Price

Skechers U.S.A. (NYSE:SKX) had its price objective upped by Evercore ISI from $72.00 to $85.00 in a report issued on Tuesday,Benzinga reports. They currently have an outperform rating on the textile maker’s stock.

A number of other research analysts also recently commented on the company. Barclays boosted their price target on Skechers U.S.A. from $79.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. TD Cowen boosted their price target on Skechers U.S.A. from $88.00 to $93.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Morgan Stanley lifted their target price on Skechers U.S.A. from $81.00 to $84.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft lifted their target price on Skechers U.S.A. from $83.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, Piper Sandler initiated coverage on Skechers U.S.A. in a research report on Tuesday, December 10th. They issued a “neutral” rating and a $65.00 target price on the stock. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Skechers U.S.A. currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.18.

Skechers U.S.A. Stock Up 2.4 %

SKX stock opened at $76.85 on Tuesday. The company has a market cap of $11.60 billion, a PE ratio of 18.93, a price-to-earnings-growth ratio of 0.90 and a beta of 1.19. The business has a 50-day simple moving average of $68.37 and a 200 day simple moving average of $65.92. Skechers U.S.A. has a 52 week low of $55.67 and a 52 week high of $76.90. The company has a quick ratio of 1.25, a current ratio of 1.96 and a debt-to-equity ratio of 0.01.

Insider Transactions at Skechers U.S.A.

In other news, COO David Weinberg sold 8,219 shares of the business’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total transaction of $554,618.12. Following the sale, the chief operating officer now directly owns 122,211 shares in the company, valued at approximately $8,246,798.28. The trade was a 6.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Michael Greenberg sold 10,274 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total value of $693,289.52. Following the completion of the sale, the president now owns 149,327 shares in the company, valued at $10,076,585.96. The trade was a 6.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 24.75% of the company’s stock.

Institutional Trading of Skechers U.S.A.

Several institutional investors have recently added to or reduced their stakes in SKX. UMB Bank n.a. boosted its holdings in Skechers U.S.A. by 423.3% in the third quarter. UMB Bank n.a. now owns 450 shares of the textile maker’s stock valued at $30,000 after acquiring an additional 364 shares during the last quarter. Venturi Wealth Management LLC boosted its holdings in Skechers U.S.A. by 52.9% in the third quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker’s stock valued at $58,000 after acquiring an additional 299 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in Skechers U.S.A. in the fourth quarter valued at approximately $65,000. Brooklyn Investment Group bought a new stake in Skechers U.S.A. in the third quarter valued at approximately $67,000. Finally, Blue Trust Inc. boosted its holdings in Skechers U.S.A. by 778.1% in the third quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker’s stock valued at $69,000 after acquiring an additional 887 shares during the last quarter. 79.96% of the stock is currently owned by institutional investors.

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.