Needham & Company LLC Reiterates Hold Rating for Skechers U.S.A. (NYSE:SKX)

Skechers U.S.A. (NYSE:SKX - Get Free Report)'s stock had its "hold" rating reiterated by equities researchers at Needham & Company LLC in a report released on Tuesday,Benzinga reports.

A number of other analysts have also issued reports on SKX. 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 report on Wednesday, January 8th. Raymond James reduced their price objective 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 lowered Skechers U.S.A. from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. Stifel Nicolaus dropped their target price on Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Finally, UBS Group decreased their price target on shares of Skechers U.S.A. from $65.00 to $64.00 and set a "buy" rating for the company in a report on Monday, April 14th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $71.62.

Skechers U.S.A. Price Performance

Shares of NYSE SKX traded down $2.72 during mid-day trading on Tuesday, reaching $47.77. The company had a trading volume of 6,381,644 shares, compared to its average volume of 2,278,644. Skechers U.S.A. has a 1-year low of $44.50 and a 1-year high of $78.85. The stock has a market cap of $7.13 billion, a PE ratio of 11.51, a P/E/G ratio of 1.11 and a beta of 1.08. 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 has a 50-day moving average price of $54.81 and a two-hundred day moving average price of $62.68.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The textile maker reported $1.34 earnings per share (EPS) 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 firm had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.43 billion. On average, equities analysts anticipate that Skechers U.S.A. will post 4.47 earnings per share for the current year.

Insider Activity at Skechers U.S.A.

In other Skechers U.S.A. news, CEO Robert Greenberg sold 52,600 shares of the firm's stock in a transaction dated Wednesday, February 12th. The stock was 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO David Weinberg sold 36,000 shares of the business's stock in a transaction dated 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 directly owns 54,499 shares of the company's stock, valued at $3,418,177.28. This represents a 39.78 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 218,245 shares of company stock valued at $13,452,902. Insiders own 24.78% of the company's stock.

Hedge Funds Weigh In On Skechers U.S.A.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC boosted its holdings in shares of 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 buying an additional 190 shares during the period. TD Private Client Wealth LLC lifted its position 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 last quarter. Investment Management Corp VA ADV bought a new stake in Skechers U.S.A. during the fourth quarter valued at about $32,000. Parallel Advisors LLC grew its position in shares of Skechers U.S.A. by 183.0% in the first quarter. Parallel Advisors LLC now owns 617 shares of the textile maker's stock valued at $35,000 after purchasing an additional 399 shares during the last quarter. Finally, Golden State Wealth Management LLC bought a new position in shares of Skechers U.S.A. in the first quarter worth about $35,000. Institutional investors and hedge funds 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.