Skechers U.S.A. (NYSE:SKX) Price Target Lowered to $70.00 at Monness Crespi & Hardt

Skechers U.S.A. (NYSE:SKX - Free Report) had its price objective lowered by Monness Crespi & Hardt from $85.00 to $70.00 in a research report released on Friday morning, MarketBeat.com reports. Monness Crespi & Hardt currently has a buy rating on the textile maker's stock.

A number of other research analysts have also recently commented on the company. Evercore ISI lowered their target price on 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. Raymond James lowered 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. TD Cowen raised their target price 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. StockNews.com cut Skechers U.S.A. from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. Finally, UBS Group lowered their price objective on Skechers U.S.A. from $65.00 to $64.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $69.62.

Skechers U.S.A. Trading Down 3.0 %

NYSE SKX traded down $1.44 on Friday, hitting $47.24. The company's stock had a trading volume of 1,264,740 shares, compared to its average volume of 2,289,296. Skechers U.S.A. has a 52-week low of $44.50 and a 52-week high of $78.85. 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 company's 50-day simple moving average is $54.11 and its 200 day simple moving average is $62.42. The firm has a market cap of $7.06 billion, a P/E ratio of 11.38, a PEG ratio of 1.11 and a beta of 1.08.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The textile maker reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.17. Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. 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 business posted $1.33 EPS. The business's revenue was up 7.1% on a year-over-year basis. Research analysts predict that Skechers U.S.A. will post 4.47 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO David Weinberg sold 36,000 shares of Skechers U.S.A. stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total value of $2,257,920.00. Following the completion of the sale, the chief operating officer now owns 54,499 shares of the company's stock, valued at $3,418,177.28. The trade was a 39.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO John M. Vandemore sold 5,112 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $60.76, for a total value of $310,605.12. Following the completion of the sale, the chief financial officer now owns 83,328 shares of the company's stock, valued at approximately $5,063,009.28. The trade was a 5.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 218,245 shares of company stock valued at $13,452,902 over the last 90 days. Company insiders own 24.78% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SKX. NewEdge Advisors LLC raised its stake 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 worth $28,000 after acquiring an additional 190 shares during the period. TD Private Client Wealth LLC raised its stake in Skechers U.S.A. by 534.3% during the 4th quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker's stock worth $29,000 after acquiring an additional 358 shares during the period. Investment Management Corp VA ADV bought a new stake in Skechers U.S.A. during the 4th quarter worth approximately $32,000. Parallel Advisors LLC raised its stake in Skechers U.S.A. by 183.0% during the 1st quarter. Parallel Advisors LLC now owns 617 shares of the textile maker's stock worth $35,000 after acquiring an additional 399 shares during the period. Finally, Golden State Wealth Management LLC bought a new stake in Skechers U.S.A. during the 1st quarter worth approximately $35,000. 79.96% of the stock is currently owned by institutional investors.

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.