Skechers U.S.A. (NYSE:SKX) Price Target Raised to $63.00 at Wells Fargo & Company

Skechers U.S.A. (NYSE:SKX - Get Free Report) had its price target increased by equities research analysts at Wells Fargo & Company from $57.00 to $63.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the textile maker's stock. Wells Fargo & Company's target price would indicate a potential upside of 2.44% from the company's current price.

Other equities analysts also recently issued reports about the company. Barclays reduced their price target on Skechers U.S.A. from $77.00 to $53.00 and set an "overweight" rating for the company in a report on Friday, April 25th. Stifel Nicolaus decreased their target price on shares of Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating for the company in a report on Thursday, April 10th. TD Cowen increased their price target on shares of Skechers U.S.A. from $88.00 to $93.00 and gave the company a "buy" rating in a report on Wednesday, January 8th. UBS Group reduced their price target on shares of Skechers U.S.A. from $65.00 to $64.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, Bank of America decreased their price target on 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. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $70.00.

Skechers U.S.A. Stock Up 0.1 %

Shares of SKX traded up $0.04 on Tuesday, reaching $61.50. The stock had a trading volume of 6,087,343 shares, compared to its average volume of 2,917,491. Skechers U.S.A. has a 12-month low of $44.50 and a 12-month high of $78.85. The firm has a market capitalization of $9.19 billion, a price-to-earnings ratio of 14.82, a price-to-earnings-growth ratio of 1.11 and a beta of 1.06. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.12 and a current ratio of 1.97. The company has a 50-day simple moving average of $53.40 and a 200-day simple moving average of $62.07.

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, topping 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 analysts' expectations of $2.43 billion. During the same quarter in the prior year, the company earned $1.33 earnings per share. The business's revenue was up 7.1% compared to the same quarter last year. Sell-side analysts predict that Skechers U.S.A. will post 4.47 EPS for the current year.

Insider Buying and Selling at Skechers U.S.A.

In other news, COO David Weinberg sold 36,000 shares of the company's stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total value of $2,257,920.00. Following the completion of the sale, the chief operating officer now directly owns 54,499 shares in the company, valued at $3,418,177.28. This represents a 39.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Mark A. Nason sold 12,046 shares of Skechers U.S.A. stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $66.08, for a total value of $795,999.68. Following the transaction, the executive vice president now owns 25,675 shares in the company, valued at $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. Over the last ninety days, insiders sold 218,245 shares of company stock valued at $13,452,902. Insiders own 24.78% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. NewEdge Advisors LLC boosted its position in shares of Skechers U.S.A. by 85.2% in the fourth quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker's stock worth $28,000 after purchasing an additional 190 shares during the period. TD Private Client Wealth LLC increased its stake in Skechers U.S.A. by 534.3% in the 4th quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker's stock worth $29,000 after buying an additional 358 shares in the last quarter. Investment Management Corp VA ADV bought a new stake in Skechers U.S.A. during the fourth quarter valued at about $32,000. Parallel Advisors LLC lifted its position 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 valued at $35,000 after acquiring an additional 399 shares in 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.

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.