Barclays Reiterates Equal Weight Rating for Skechers U.S.A. (NYSE:SKX)

Skechers U.S.A. (NYSE:SKX - Get Free Report)'s stock had its "equal weight" rating reaffirmed by Barclays in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $63.00 target price on the textile maker's stock, up from their prior target price of $53.00. Barclays's price target suggests a potential upside of 2.44% from the stock's previous close.

SKX has been the topic of a number of other reports. Stifel Nicolaus dropped their price objective on shares of Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Monness Crespi & Hardt reduced their target price on Skechers U.S.A. from $85.00 to $70.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Bank of America cut their price objective on shares of Skechers U.S.A. from $76.00 to $70.00 and set a "buy" rating for the company in a research report on Monday, March 24th. Raymond James dropped their price target on shares of Skechers U.S.A. from $80.00 to $75.00 and set an "outperform" rating for the company in a research report on Friday, February 7th. Finally, Evercore ISI lowered their price objective on shares of Skechers U.S.A. from $78.00 to $60.00 and set an "outperform" rating for the company in a research report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Skechers U.S.A. has a consensus rating of "Hold" and an average target price of $70.00.

Skechers U.S.A. Price Performance

Shares of Skechers U.S.A. stock traded up $0.04 during trading on Tuesday, hitting $61.50. 6,087,343 shares of the company's stock traded hands, compared to its average volume of 2,917,491. Skechers U.S.A. has a twelve month low of $44.50 and a twelve month 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 company has a market cap of $9.19 billion, a PE ratio of 14.82, a PEG ratio of 1.11 and a beta of 1.06. The firm's fifty day moving average price is $53.40 and its 200 day moving average price 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.17. The business 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 firm's quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.33 EPS. Analysts forecast that Skechers U.S.A. will post 4.47 earnings per share for the current year.

Insider Buying and Selling

In other Skechers U.S.A. news, CEO Robert Greenberg sold 52,600 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 $3,299,072.00. Following the completion of the sale, the chief executive officer now directly owns 61,367 shares in the company, valued at approximately $3,848,938.24. This represents a 46.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Phillip Paccione sold 10,994 shares of Skechers U.S.A. stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $56.63, for a total transaction of $622,590.22. Following the transaction, the general counsel now directly owns 15,000 shares in the company, valued at approximately $849,450. The trade was a 42.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 218,245 shares of company stock valued at $13,452,902. 24.78% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Skechers U.S.A.

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Skechers U.S.A. by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 12,544,233 shares of the textile maker's stock worth $843,474,000 after buying an additional 82,143 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Skechers U.S.A. by 15,774.3% during the 1st quarter. Victory Capital Management Inc. now owns 3,949,844 shares of the textile maker's stock valued at $224,272,000 after purchasing an additional 3,924,962 shares during the last quarter. Anomaly Capital Management LP boosted its position in shares of Skechers U.S.A. by 51.2% in the 4th quarter. Anomaly Capital Management LP now owns 2,989,015 shares of the textile maker's stock worth $200,981,000 after purchasing an additional 1,011,815 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Skechers U.S.A. by 7.6% during the 1st quarter. Bank of New York Mellon Corp now owns 2,482,980 shares of the textile maker's stock worth $140,984,000 after buying an additional 174,697 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Skechers U.S.A. by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 2,294,976 shares of the textile maker's stock valued at $154,361,000 after buying an additional 78,071 shares in the last quarter. Institutional investors own 79.96% of the company's stock.

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.