Skechers U.S.A. (NYSE:SKX) Stock Rating Lowered by Barclays

Skechers U.S.A. (NYSE:SKX - Get Free Report) was downgraded by Barclays from a "strong-buy" rating to a "hold" rating in a report issued on Monday,Zacks.com reports.

A number of other brokerages have also commented on SKX. Wells Fargo & Company lifted their price target on shares of Skechers U.S.A. from $57.00 to $63.00 and gave the stock an "overweight" rating in a report on Tuesday. Needham & Company LLC reiterated a "hold" rating on shares of Skechers U.S.A. in a research report on Tuesday, April 22nd. Monness Crespi & Hardt cut their price objective on 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. Morgan Stanley decreased their target price on shares of Skechers U.S.A. from $80.00 to $73.00 and set an "overweight" rating for the company in a research report on Friday, April 25th. Finally, Evercore ISI dropped their price target on shares of Skechers U.S.A. from $78.00 to $60.00 and set an "outperform" rating on the stock in a research report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $70.77.

Skechers U.S.A. Price Performance

NYSE:SKX opened at $61.38 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.12 and a current ratio of 1.97. Skechers U.S.A. has a 52 week low of $44.50 and a 52 week high of $78.85. The firm's 50-day simple moving average is $53.25 and its 200 day simple moving average is $62.08. The firm has a market cap of $9.17 billion, a price-to-earnings ratio of 14.79, a P/E/G 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 (EPS) for the quarter, topping analysts' consensus estimates of $1.17 by $0.17. The firm had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.43 billion. Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. The business's revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.33 earnings per share. As a group, sell-side analysts predict that Skechers U.S.A. will post 4.47 earnings per share for the current year.

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

In other Skechers U.S.A. news, CFO John M. Vandemore sold 5,112 shares of Skechers U.S.A. stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $60.76, for a total transaction of $310,605.12. Following the completion of the transaction, the chief financial officer now owns 83,328 shares in the company, valued at approximately $5,063,009.28. The trade was a 5.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark A. Nason sold 12,046 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $66.08, for a total value of $795,999.68. Following the completion of the sale, the executive vice president now directly owns 25,675 shares of the company's stock, 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. Over the last quarter, insiders sold 218,245 shares of company stock valued at $13,452,902. Company insiders own 24.78% of the company's stock.

Institutional Trading of Skechers U.S.A.

Several institutional investors have recently made changes to their positions in the company. Neo Ivy Capital Management bought a new stake in Skechers U.S.A. in the 1st quarter worth about $620,000. AE Wealth Management LLC purchased a new position in shares of Skechers U.S.A. in the 1st quarter worth approximately $264,000. KLP Kapitalforvaltning AS boosted its stake in shares of Skechers U.S.A. by 3.3% in the 1st quarter. KLP Kapitalforvaltning AS now owns 28,200 shares of the textile maker's stock worth $1,601,000 after buying an additional 900 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Skechers U.S.A. during the first quarter valued at approximately $2,594,000. Finally, Y Intercept Hong Kong Ltd increased its position in shares of Skechers U.S.A. by 197.0% during the first quarter. Y Intercept Hong Kong Ltd now owns 26,827 shares of the textile maker's stock valued at $1,523,000 after acquiring an additional 17,793 shares during the last quarter. Institutional investors own 79.96% of the company's stock.

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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