Skechers U.S.A., Inc. (NYSE:SKX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Skechers U.S.A., Inc. (NYSE:SKX) has been assigned a consensus rating of “Moderate Buy” from the twelve research firms that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $66.83.

SKX has been the topic of several recent research reports. Bank of America initiated coverage on shares of Skechers U.S.A. in a research note on Friday, March 8th. They issued a “neutral” rating and a $67.00 price objective on the stock. Monness Crespi & Hardt lifted their price objective on shares of Skechers U.S.A. from $60.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, January 18th. Raymond James lowered their price objective on shares of Skechers U.S.A. from $68.00 to $66.00 and set an “outperform” rating on the stock in a research note on Monday, February 5th. TD Cowen lifted their price objective on shares of Skechers U.S.A. from $70.00 to $74.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Finally, Stifel Nicolaus lowered their price objective on shares of Skechers U.S.A. from $72.00 to $70.00 and set a “buy” rating on the stock in a research note on Friday, February 2nd.

Insider Activity at Skechers U.S.A.

In related news, CEO Robert Greenberg sold 99,139 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $57.87, for a total transaction of $5,737,173.93. Following the transaction, the chief executive officer now directly owns 196,050 shares of the company’s stock, valued at $11,345,413.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Skechers U.S.A. news, EVP Mark A. Nason sold 6,067 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $61.11, for a total value of $370,754.37. Following the completion of the sale, the executive vice president now directly owns 14,023 shares of the company’s stock, valued at $856,945.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert Greenberg sold 99,139 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $57.87, for a total transaction of $5,737,173.93. Following the completion of the sale, the chief executive officer now directly owns 196,050 shares of the company’s stock, valued at $11,345,413.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 254,875 shares of company stock valued at $15,021,192. Corporate insiders own 24.75% of the company’s stock.

Institutional Trading of Skechers U.S.A.

Large investors have recently added to or reduced their stakes in the business. Raymond James & Associates grew its position in Skechers U.S.A. by 354.5% in the fourth quarter. Raymond James & Associates now owns 52,280 shares of the textile maker’s stock worth $3,259,000 after acquiring an additional 40,778 shares in the last quarter. Lecap Asset Management Ltd. bought a new stake in Skechers U.S.A. in the fourth quarter worth approximately $1,798,000. Vaughan Nelson Investment Management L.P. grew its position in Skechers U.S.A. by 371.8% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 758,469 shares of the textile maker’s stock worth $47,282,000 after acquiring an additional 597,702 shares in the last quarter. Envestnet Asset Management Inc. grew its position in Skechers U.S.A. by 56.8% in the third quarter. Envestnet Asset Management Inc. now owns 96,433 shares of the textile maker’s stock worth $4,720,000 after acquiring an additional 34,926 shares in the last quarter. Finally, Hsbc Holdings PLC grew its position in Skechers U.S.A. by 117.4% in the third quarter. Hsbc Holdings PLC now owns 99,916 shares of the textile maker’s stock worth $4,915,000 after acquiring an additional 53,962 shares in the last quarter. 79.96% of the stock is owned by institutional investors.

Skechers U.S.A. Stock Up 1.6 %

Skechers U.S.A. stock opened at $67.11 on Friday. The stock has a market cap of $10.29 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 1.14 and a beta of 1.29. The company has a current ratio of 2.39, a quick ratio of 1.56 and a debt-to-equity ratio of 0.02. The company’s 50-day moving average price is $60.28 and its two-hundred day moving average price is $58.52. Skechers U.S.A. has a 52 week low of $45.58 and a 52 week high of $69.07.

Skechers U.S.A. (NYSE:SKX) last released its earnings results on Thursday, April 25th. The textile maker reported $1.33 EPS for the quarter, beating the consensus estimate of $1.10 by $0.23. The firm had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $2.20 billion. Skechers U.S.A. had a net margin of 7.17% and a return on equity of 13.56%. Skechers U.S.A.’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the company earned $1.02 EPS. On average, analysts expect that Skechers U.S.A. will post 4.07 EPS 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.