Skechers U.S.A. (NYSE:SKX) Sees Large Volume Increase - Still a Buy?

Shares of Skechers U.S.A., Inc. (NYSE:SKX - Get Free Report) saw strong trading volume on Monday . 5,156,775 shares traded hands during trading, an increase of 76% from the previous session's volume of 2,927,955 shares.The stock last traded at $62.10 and had previously closed at $61.49.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Monness Crespi & Hardt downgraded shares of Skechers U.S.A. from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 7th. UBS Group reissued a "neutral" rating and set a $63.00 target price (down from $64.00) on shares of Skechers U.S.A. in a research note on Tuesday, May 6th. Bank of America reduced their target price on shares of Skechers U.S.A. from $76.00 to $70.00 and set a "buy" rating for the company in a research note on Monday, March 24th. Wells Fargo & Company boosted their target price on shares of Skechers U.S.A. from $57.00 to $63.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Skechers U.S.A. in a research note on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $70.00.

Skechers U.S.A. Price Performance

The company's 50-day simple moving average is $53.40 and its 200 day simple moving average is $62.07. The company has a quick ratio of 1.12, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $9.32 billion, a P/E ratio of 15.03, a P/E/G ratio of 1.11 and a beta of 1.06.

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

Insider Activity at Skechers U.S.A.

In other Skechers U.S.A. news, CFO John M. Vandemore sold 5,112 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $60.76, for a total value of $310,605.12. Following the sale, the chief financial officer now directly owns 83,328 shares in the company, valued at $5,063,009.28. This trade represents a 5.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Mark A. Nason sold 12,046 shares of Skechers U.S.A. 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 sale, 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 218,245 shares of company stock worth $13,452,902. 24.78% of the stock is owned by insiders.

Institutional Trading of Skechers U.S.A.

Institutional investors have recently made changes to their positions in the business. 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. 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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