Skechers U.S.A.'s (SKX) "Equal Weight" Rating Reaffirmed at Barclays

Skechers U.S.A. (NYSE:SKX - Get Free Report)'s stock had its "equal weight" rating reissued by research analysts at Barclays in a research note issued on Tuesday,Benzinga reports. They currently have a $63.00 price objective on the textile maker's stock, up from their prior price objective of $53.00. Barclays's price target suggests a potential upside of 2.56% from the stock's current price.

Several other brokerages also recently commented on SKX. Stifel Nicolaus cut their target price on Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. StockNews.com lowered Skechers U.S.A. from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. Evercore ISI reduced their price objective on 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. Needham & Company LLC restated a "hold" rating on shares of Skechers U.S.A. in a research report on Tuesday, April 22nd. Finally, Monness Crespi & Hardt reduced their price target on shares of Skechers U.S.A. from $85.00 to $70.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $70.85.

Skechers U.S.A. Stock Performance

Shares of SKX traded up $0.04 during mid-day trading on Tuesday, hitting $61.43. The stock had a trading volume of 18,017,305 shares, compared to its average volume of 2,682,962. The firm has a market cap of $9.17 billion, a P/E ratio of 14.80, a PEG ratio of 1.11 and a beta of 1.06. Skechers U.S.A. has a 52 week low of $44.50 and a 52 week 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 business has a fifty day moving average price of $53.24 and a 200-day moving average price of $62.09.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The textile maker reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 7.13% and a return on equity of 13.73%. The company's quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.33 earnings per share. On average, equities research analysts expect that Skechers U.S.A. will post 4.47 EPS for the current year.

Insider Activity at Skechers U.S.A.

In other Skechers U.S.A. news, COO David Weinberg sold 36,000 shares of the company's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $62.72, for a total transaction of $2,257,920.00. Following the transaction, the chief operating officer now owns 54,499 shares in the company, valued at approximately $3,418,177.28. This represents a 39.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO John M. Vandemore sold 5,112 shares of Skechers U.S.A. stock in a transaction that occurred on 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 sale, the chief financial officer now 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 disclosure for this sale can be found here. Insiders sold 218,245 shares of company stock valued at $13,452,902 over the last 90 days. Corporate insiders own 24.78% of the company's stock.

Institutional Trading of Skechers U.S.A.

Large investors have recently modified their holdings of the company. NewEdge Advisors LLC increased its position in shares of Skechers U.S.A. by 85.2% during the 4th quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker's stock valued at $28,000 after purchasing an additional 190 shares during the last quarter. TD Private Client Wealth LLC increased its stake in shares of 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 purchasing an additional 358 shares in the last quarter. Investment Management Corp VA ADV purchased a new position in Skechers U.S.A. during the fourth quarter valued at $32,000. Parallel Advisors LLC grew its holdings 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 during the period. Finally, Golden State Wealth Management LLC purchased a new stake in Skechers U.S.A. in the first quarter worth about $35,000. 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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