Skechers U.S.A., Inc. (NYSE:SKX) Receives Average Rating of "Moderate Buy" from Brokerages

Skechers U.S.A., Inc. (NYSE:SKX - Get Free Report) has been assigned an average rating of "Moderate Buy" from the fourteen analysts that are currently covering the stock, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $70.00.

Several research analysts recently commented on the stock. Raymond James downgraded shares of Skechers U.S.A. from a "moderate buy" rating to a "hold" rating in a report on Monday, May 5th. Evercore ISI dropped their price objective on shares of Skechers U.S.A. from $78.00 to $60.00 and set an "outperform" rating on the stock in a report on Thursday, April 17th. Wells Fargo & Company boosted their price objective on shares of Skechers U.S.A. from $57.00 to $63.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. Morgan Stanley restated an "equal weight" rating and set a $63.00 price objective (down previously from $73.00) on shares of Skechers U.S.A. in a report on Wednesday, May 7th. Finally, Barclays restated an "equal weight" rating and set a $63.00 price objective (up previously from $53.00) on shares of Skechers U.S.A. in a report on Tuesday, May 6th.

Insider Activity

In other Skechers U.S.A. news, CFO John M. Vandemore sold 5,112 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $60.76, for a total value of $310,605.12. Following the transaction, the chief financial officer now directly owns 83,328 shares in the company, valued at $5,063,009.28. The trade was a 5.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark A. Nason sold 12,046 shares of the business's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $66.08, for a total transaction of $795,999.68. Following the completion of the transaction, the executive vice president now owns 25,675 shares in the company, valued at approximately $1,696,604. This trade represents a 31.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 129,645 shares of company stock worth $7,895,910. Corporate insiders own 24.78% of the company's stock.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. NewEdge Advisors LLC boosted its position in Skechers U.S.A. by 85.2% in the fourth quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker's stock valued at $28,000 after buying an additional 190 shares in the last quarter. TD Private Client Wealth LLC boosted its position in Skechers U.S.A. by 534.3% in the fourth quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker's stock valued at $29,000 after buying an additional 358 shares in the last quarter. Investment Management Corp VA ADV acquired a new position in Skechers U.S.A. in the fourth quarter valued at about $32,000. Parallel Advisors LLC raised its stake 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 worth $35,000 after acquiring 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. 79.96% of the stock is currently owned by institutional investors and hedge funds.

Skechers U.S.A. Stock Down 0.4%

Skechers U.S.A. stock opened at $62.27 on Wednesday. The company has a market capitalization of $9.30 billion, a P/E ratio of 15.00, a P/E/G ratio of 1.11 and a beta of 1.06. Skechers U.S.A. has a 1-year low of $44.50 and a 1-year 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 firm's fifty day simple moving average is $53.53 and its 200-day simple moving average is $62.09.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last announced its earnings results on Thursday, April 24th. The textile maker reported $1.34 EPS for the quarter, topping the consensus estimate of $1.17 by $0.17. The firm had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.43 billion. Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. The business's quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.33 EPS. Sell-side analysts forecast that Skechers U.S.A. will post 4.47 earnings per share for the current fiscal year.

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.

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