Skechers U.S.A. (NYSE:SKX) Hits New 52-Week High at $69.69

Skechers U.S.A., Inc. (NYSE:SKX - Get Free Report) shares reached a new 52-week high on Tuesday . The stock traded as high as $69.69 and last traded at $69.21, with a volume of 50850 shares traded. The stock had previously closed at $68.24.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SKX. Wedbush upped their target price on Skechers U.S.A. from $68.00 to $76.00 and gave the company an "outperform" rating in a report on Friday, April 26th. Evercore ISI reduced their target price on shares of Skechers U.S.A. from $73.00 to $68.00 and set an "outperform" rating for the company in a research note on Wednesday, April 17th. Stifel Nicolaus dropped their price target on shares of Skechers U.S.A. from $72.00 to $70.00 and set a "buy" rating on the stock in a research note on Friday, February 2nd. Bank of America started coverage on shares of Skechers U.S.A. in a research note on Friday, March 8th. They issued a "neutral" rating and a $67.00 price objective for the company. Finally, Raymond James lowered their target price on shares of Skechers U.S.A. from $68.00 to $66.00 and set an "outperform" rating on the stock in a research report on Monday, February 5th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Skechers U.S.A. currently has a consensus rating of "Moderate Buy" and a consensus target price of $66.83.

Skechers U.S.A. Trading Up 1.1 %

The company has a market cap of $10.52 billion, a price-to-earnings ratio of 18.12, a price-to-earnings-growth ratio of 1.19 and a beta of 1.29. The business's fifty day moving average price is $61.15 and its 200 day moving average price is $59.59. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.39 and a quick ratio of 1.56.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last posted its quarterly earnings data on Thursday, April 25th. The textile maker reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.23. Skechers U.S.A. had a net margin of 7.17% and a return on equity of 13.56%. The company had revenue of $2.25 billion during the quarter, compared to analysts' expectations of $2.20 billion. During the same period in the prior year, the company posted $1.02 earnings per share. Skechers U.S.A.'s revenue for the quarter was up 12.5% compared to the same quarter last year. Research analysts anticipate that Skechers U.S.A., Inc. will post 4.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO David Weinberg sold 20,226 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $61.11, for a total value of $1,236,010.86. Following the completion of the sale, the chief operating officer now directly owns 99,655 shares of the company's stock, valued at $6,089,917.05. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, COO David Weinberg sold 20,226 shares of the firm's stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $61.11, for a total value of $1,236,010.86. Following the completion of the transaction, the chief operating officer now directly owns 99,655 shares in the company, valued at $6,089,917.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert Greenberg sold 30,339 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $61.11, for a total transaction of $1,854,016.29. Following the completion of the sale, the chief executive officer now owns 132,783 shares in the company, valued at $8,114,369.13. The disclosure for this sale can be found here. In the last three months, insiders have sold 81,914 shares of company stock worth $5,005,765. Corporate insiders own 24.75% of the company's stock.

Institutional Trading of Skechers U.S.A.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Delap Wealth Advisory LLC purchased a new position in Skechers U.S.A. during the 1st quarter valued at about $446,000. Burns Matteson Capital Management LLC purchased a new position in shares of Skechers U.S.A. in the first quarter worth $395,000. Boulder Hill Capital Management LP purchased a new stake in shares of Skechers U.S.A. during the 1st quarter valued at about $3,945,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Skechers U.S.A. during the 1st quarter valued at $206,000. Finally, Bessemer Group Inc. lifted its holdings in Skechers U.S.A. by 66.7% in the first quarter. Bessemer Group Inc. now owns 410 shares of the textile maker's stock valued at $25,000 after acquiring an additional 164 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.