Skechers U.S.A. (NYSE:SKX) Now Covered by Wall Street Zen

Equities researchers at Wall Street Zen began coverage on shares of Skechers U.S.A. (NYSE:SKX - Get Free Report) in a research note issued to investors on Thursday. The brokerage set a "sell" rating on the textile maker's stock.

Other analysts have also issued reports about the stock. Evercore ISI cut their price target on shares of Skechers U.S.A. from $78.00 to $60.00 and set an "outperform" rating for the company in a research report on Thursday, April 17th. Barclays reissued an "equal weight" rating and issued a $63.00 price target (up previously from $53.00) on shares of Skechers U.S.A. in a report on Tuesday, May 6th. Morgan Stanley reaffirmed an "equal weight" rating and set a $63.00 price objective (down from $73.00) on shares of Skechers U.S.A. in a research note on Wednesday, May 7th. Needham & Company LLC reissued a "hold" rating on shares of Skechers U.S.A. in a research note on Tuesday, April 22nd. Finally, Bank of America reduced their price target on Skechers U.S.A. from $76.00 to $70.00 and set a "buy" rating on the stock in a report on Monday, March 24th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $70.00.

Skechers U.S.A. Price Performance

SKX stock traded up $0.17 during mid-day trading on Thursday, hitting $62.04. 8,532,744 shares of the stock were exchanged, compared to its average volume of 3,180,419. The business has a fifty day moving average price of $54.48 and a 200 day moving average price of $62.09. Skechers U.S.A. has a 12 month low of $44.50 and a 12 month high of $78.85. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12. The stock has a market capitalization of $9.28 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 1.11 and a beta of 1.06.

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

Insider Buying and Selling

In other news, COO David Weinberg sold 26,913 shares of Skechers U.S.A. stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $60.76, for a total transaction of $1,635,233.88. Following the completion of the transaction, the chief operating officer now directly owns 44,637 shares in the company, valued at approximately $2,712,144.12. This trade represents a 37.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert Greenberg sold 40,924 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $60.76, for a total value of $2,486,542.24. Following the completion of the sale, the chief executive officer now owns 51,342 shares in the company, valued at $3,119,539.92. The trade was a 44.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 117,599 shares of company stock valued at $7,099,910 over the last ninety days. Company 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 modified their holdings of the stock. SageView Advisory Group LLC grew its position in Skechers U.S.A. by 2.6% during the 1st quarter. SageView Advisory Group LLC now owns 8,720 shares of the textile maker's stock valued at $495,000 after purchasing an additional 224 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Skechers U.S.A. by 4.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 394,235 shares of the textile maker's stock worth $22,385,000 after buying an additional 16,915 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Skechers U.S.A. by 13.5% during the first quarter. Empowered Funds LLC now owns 132,461 shares of the textile maker's stock valued at $7,521,000 after buying an additional 15,723 shares during the last quarter. Dean Capital Management increased its position in shares of Skechers U.S.A. by 2.1% during the first quarter. Dean Capital Management now owns 19,352 shares of the textile maker's stock valued at $1,099,000 after acquiring an additional 404 shares in the last quarter. Finally, United Services Automobile Association purchased a new position in Skechers U.S.A. in the 1st quarter worth approximately $498,000. 79.96% of the stock is currently owned by institutional investors.

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.