Brokerages Set Skechers U.S.A., Inc. (NYSE:SKX) PT at $80.42

Shares of Skechers U.S.A., Inc. (NYSE:SKX) have received a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $80.42.

A number of equities analysts have commented on SKX shares. Barclays reduced their target price on Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating for the company in a report on Monday, February 10th. UBS Group dropped their target price on shares of Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating for the company in a report on Friday, February 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Skechers U.S.A. in a research note on Friday, February 7th. StockNews.com lowered shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Finally, Stifel Nicolaus dropped their target price on Skechers U.S.A. from $83.00 to $80.00 and set a “buy” rating for the company in a report on Friday, February 7th.

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

In other news, COO David Weinberg sold 8,219 shares of the stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total transaction of $554,618.12. Following the completion of the sale, the chief operating officer now owns 122,211 shares in the company, valued at approximately $8,246,798.28. This represents a 6.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Michael Greenberg sold 10,274 shares of the firm’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total value of $693,289.52. Following the transaction, the president now directly owns 149,327 shares in the company, valued at approximately $10,076,585.96. This represents a 6.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 236,738 shares of company stock worth $14,700,809 over the last 90 days. Corporate insiders own 24.75% of the company’s stock.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. NewEdge Advisors LLC raised its holdings 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 worth $28,000 after purchasing an additional 190 shares during the last quarter. TD Private Client Wealth LLC boosted its position in shares of Skechers U.S.A. by 534.3% in the fourth quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker’s stock worth $29,000 after acquiring an additional 358 shares during the last quarter. Investment Management Corp VA ADV purchased a new position in Skechers U.S.A. during the fourth quarter worth approximately $32,000. UMB Bank n.a. increased its holdings in shares of Skechers U.S.A. by 53.1% during the 4th quarter. UMB Bank n.a. now owns 689 shares of the textile maker’s stock worth $46,000 after buying an additional 239 shares during the last quarter. Finally, IFP Advisors Inc raised its position in shares of Skechers U.S.A. by 62.4% in the 4th quarter. IFP Advisors Inc now owns 825 shares of the textile maker’s stock worth $55,000 after buying an additional 317 shares during the period. Institutional investors and hedge funds own 79.96% of the company’s stock.

Skechers U.S.A. Trading Up 0.8 %

Shares of NYSE:SKX opened at $57.79 on Tuesday. The business’s 50 day moving average price is $64.54 and its 200-day moving average price is $65.27. Skechers U.S.A. has a 1 year low of $53.79 and a 1 year high of $78.85. The firm has a market capitalization of $8.63 billion, a price-to-earnings ratio of 13.93, a price-to-earnings-growth ratio of 1.11 and a beta of 1.21. 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. (NYSE:SKX) last posted its quarterly earnings data on Thursday, February 6th. The textile maker reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.08). Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. On average, equities research analysts forecast that Skechers U.S.A. will post 4.47 earnings per share for the current fiscal year.

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.