Investors Purchase Large Volume of Put Options on Skechers U.S.A. (NYSE:SKX)

Skechers U.S.A., Inc. (NYSE:SKX) was the recipient of some unusual options trading on Monday. Stock traders acquired 11,201 put options on the stock. This is an increase of approximately 400% compared to the average volume of 2,242 put options.

Analyst Ratings Changes

A number of brokerages recently weighed in on SKX. Morgan Stanley increased their price target on shares of Skechers U.S.A. from $81.00 to $84.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Wedbush lifted their price target on shares of Skechers U.S.A. from $76.00 to $79.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Bank of America decreased their price target on shares of Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating for the company in a report on Friday, October 25th. TD Cowen dropped their price objective on Skechers U.S.A. from $78.00 to $76.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Finally, Stifel Nicolaus boosted their target price on Skechers U.S.A. from $81.00 to $83.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Skechers U.S.A. currently has an average rating of “Buy” and a consensus target price of $78.09.

Skechers U.S.A. Price Performance

SKX stock opened at $60.77 on Tuesday. The stock has a market cap of $9.17 billion, a PE ratio of 14.95, a price-to-earnings-growth ratio of 0.84 and a beta of 1.23. The stock has a 50-day moving average price of $64.13 and a two-hundred day moving average price of $66.44. Skechers U.S.A. has a 1 year low of $52.49 and a 1 year high of $75.09. The company has a current ratio of 1.96, a quick ratio of 1.25 and a debt-to-equity ratio of 0.01.

Skechers U.S.A. (NYSE:SKX) last posted its quarterly earnings data on Thursday, October 24th. The textile maker reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.11. The business had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.31 billion. Skechers U.S.A. had a return on equity of 13.71% and a net margin of 7.19%. Skechers U.S.A.’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period last year, the company earned $0.93 earnings per share. Equities analysts forecast that Skechers U.S.A. will post 4.25 EPS for the current fiscal year.

Skechers U.S.A. announced that its Board of Directors has approved a share buyback program on Thursday, July 25th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the textile maker to reacquire up to 10.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Institutional Trading of Skechers U.S.A.

A number of institutional investors have recently made changes to their positions in SKX. Bessemer Group Inc. increased its stake in Skechers U.S.A. by 66.7% in the 1st quarter. Bessemer Group Inc. now owns 410 shares of the textile maker’s stock valued at $25,000 after buying an additional 164 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of Skechers U.S.A. by 4.7% during the 2nd quarter. CIBC Asset Management Inc now owns 3,820 shares of the textile maker’s stock worth $264,000 after buying an additional 173 shares during the last quarter. Lindenwold Advisors INC grew its holdings in shares of Skechers U.S.A. by 3.0% in the 3rd quarter. Lindenwold Advisors INC now owns 6,663 shares of the textile maker’s stock valued at $446,000 after acquiring an additional 195 shares in the last quarter. X Square Capital LLC increased its position in shares of Skechers U.S.A. by 0.5% in the second quarter. X Square Capital LLC now owns 40,903 shares of the textile maker’s stock valued at $2,827,000 after acquiring an additional 215 shares during the last quarter. Finally, Edgestream Partners L.P. raised its holdings in Skechers U.S.A. by 2.8% during the third quarter. Edgestream Partners L.P. now owns 8,762 shares of the textile maker’s stock worth $586,000 after acquiring an additional 236 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.