Skechers U.S.A. (NYSE:SKX) Downgraded to "Hold" Rating by Barclays

Barclays cut shares of Skechers U.S.A. (NYSE:SKX - Free Report) from a strong-buy rating to a hold rating in a research report report published on Monday, May 5th,Zacks.com reports.

SKX has been the topic of a number of other research reports. Stifel Nicolaus dropped their price target on Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. StockNews.com lowered Skechers U.S.A. from a "hold" rating to a "sell" rating in a report on Tuesday, May 6th. Wells Fargo & Company raised their price objective on 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. Bank of America dropped their price target on Skechers U.S.A. from $76.00 to $70.00 and set a "buy" rating on the stock in a research report on Monday, March 24th. Finally, Raymond James lowered their price objective on Skechers U.S.A. from $80.00 to $75.00 and set an "outperform" rating on the stock in a research report on Friday, February 7th. 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. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $70.00.

Skechers U.S.A. Stock Performance

Shares of SKX traded up $0.60 during trading hours on Monday, reaching $62.09. 7,727,721 shares of the company's stock traded hands, compared to its average volume of 2,937,703. The firm has a market capitalization of $9.27 billion, a price-to-earnings ratio of 14.96, a P/E/G ratio of 1.11 and a beta of 1.06. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12. Skechers U.S.A. has a twelve month low of $44.50 and a twelve month high of $78.85. The business's fifty day simple moving average is $53.40 and its two-hundred day simple moving average is $62.07.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The textile maker reported $1.34 EPS 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 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 company's quarterly revenue was up 7.1% compared to the same quarter last year. During the same period last year, the company earned $1.33 earnings per share. Analysts predict that Skechers U.S.A. will post 4.47 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO John M. Vandemore sold 5,112 shares of the 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 $310,605.12. Following the completion of the sale, the chief financial officer now directly owns 83,328 shares of the company's stock, valued at $5,063,009.28. This represents a 5.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Phillip Paccione sold 10,994 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $56.63, for a total value of $622,590.22. Following the completion of the sale, the general counsel now directly owns 15,000 shares of the company's stock, valued at approximately $849,450. This trade represents a 42.29% 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 valued at $13,452,902. 24.78% of the stock is currently owned by company insiders.

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

Institutional investors and hedge funds have recently bought and sold shares of the company. NewEdge Advisors LLC boosted its stake in Skechers U.S.A. by 85.2% during 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 during the period. TD Private Client Wealth LLC boosted its stake in Skechers U.S.A. by 534.3% during 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 during the period. Investment Management Corp VA ADV bought a new stake in Skechers U.S.A. during the fourth quarter valued at $32,000. Parallel Advisors LLC raised its position in Skechers U.S.A. by 183.0% during the first quarter. Parallel Advisors LLC now owns 617 shares of the textile maker's stock valued at $35,000 after purchasing an additional 399 shares in the last quarter. Finally, Golden State Wealth Management LLC purchased a new stake in Skechers U.S.A. during the first quarter valued at about $35,000. 79.96% of the stock is 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.