Skechers U.S.A. (NYSE:SKX) Rating Lowered to "Hold" at Raymond James

Raymond James lowered shares of Skechers U.S.A. (NYSE:SKX - Free Report) from a moderate buy rating to a hold rating in a research note released on Monday, May 5th,Zacks.com reports.

Other analysts have also recently issued reports about the stock. 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 research note on Tuesday, May 6th. StockNews.com lowered shares of Skechers U.S.A. from a "hold" rating to a "sell" rating in a report on Tuesday, May 6th. Monness Crespi & Hardt decreased their price target on shares of Skechers U.S.A. from $85.00 to $70.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Bank of America reduced their price objective on shares of Skechers U.S.A. from $76.00 to $70.00 and set a "buy" rating on the stock in a research note on Monday, March 24th. Finally, Needham & Company LLC restated a "hold" rating on shares of Skechers U.S.A. in a report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Skechers U.S.A. currently has an average rating of "Hold" and a consensus price target of $70.00.

Skechers U.S.A. Price Performance

Shares of SKX traded down $0.36 on Monday, reaching $62.14. The stock had a trading volume of 3,466,875 shares, compared to its average volume of 2,959,715. The firm has a 50-day moving average of $53.46 and a 200 day moving average of $62.09. The firm has a market capitalization of $9.28 billion, a PE ratio of 14.97, a PEG ratio of 1.11 and a beta of 1.06. The company has a quick ratio of 1.12, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. Skechers U.S.A. has a twelve month low of $44.50 and a twelve month high of $78.85.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last issued its earnings results 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. The business had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.43 billion. Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. The business's quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the company posted $1.33 EPS. Sell-side analysts expect that Skechers U.S.A. will post 4.47 EPS for the current year.

Insider Transactions at Skechers U.S.A.

In related news, COO David Weinberg sold 36,000 shares of the stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $62.72, for a total value of $2,257,920.00. Following the transaction, the chief operating officer now directly owns 54,499 shares of the company's stock, valued at $3,418,177.28. This trade represents a 39.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Robert Greenberg sold 52,600 shares of Skechers U.S.A. stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $62.72, for a total transaction of $3,299,072.00. Following the completion of the transaction, the chief executive officer now owns 61,367 shares in the company, valued at approximately $3,848,938.24. This represents a 46.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 218,245 shares of company stock worth $13,452,902 over the last 90 days. 24.78% of the stock is currently owned by company insiders.

Institutional Trading of Skechers U.S.A.

Large investors have recently modified their holdings of the business. Raymond James Financial Inc. acquired a new position in Skechers U.S.A. during the fourth quarter worth approximately $12,852,000. Schroder Investment Management Group increased its holdings in shares of Skechers U.S.A. by 11.3% in the 4th quarter. Schroder Investment Management Group now owns 177,343 shares of the textile maker's stock worth $12,010,000 after acquiring an additional 18,024 shares during the period. Frontier Capital Management Co. LLC acquired a new position in Skechers U.S.A. during the 4th quarter valued at about $17,589,000. Assenagon Asset Management S.A. grew its stake in shares of Skechers U.S.A. by 15.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 120,007 shares of the textile maker's stock worth $8,069,000 after purchasing an additional 15,874 shares during the last quarter. Finally, Nordea Investment Management AB acquired a new position in shares of Skechers U.S.A. in the fourth quarter worth about $2,752,000. 79.96% of the stock is currently owned by institutional investors and hedge funds.

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.