Skechers U.S.A. (NYSE:SKX) Price Target Cut to $90.00 by Analysts at UBS Group

Skechers U.S.A. (NYSE:SKX) had its price objective lowered by UBS Group from $92.00 to $90.00 in a research report sent to investors on Friday,Benzinga reports. The brokerage currently has a buy rating on the textile maker’s stock.

SKX has been the subject of several other research reports. Piper Sandler initiated coverage on shares of Skechers U.S.A. in a research note on Tuesday, December 10th. They issued a “neutral” rating and a $65.00 price objective for the company. Deutsche Bank Aktiengesellschaft boosted their price objective on Skechers U.S.A. from $83.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Barclays boosted their price objective on Skechers U.S.A. from $79.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. StockNews.com raised Skechers U.S.A. from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. Finally, TD Cowen raised their price objective on shares of Skechers U.S.A. from $88.00 to $93.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Skechers U.S.A. presently has a consensus rating of “Moderate Buy” and an average target price of $81.50.

Skechers U.S.A. Price Performance

NYSE SKX opened at $66.06 on Friday. Skechers U.S.A. has a 12-month low of $55.67 and a 12-month high of $78.85. The company has a quick ratio of 1.25, a current ratio of 1.96 and a debt-to-equity ratio of 0.01. The firm’s 50 day moving average is $70.51 and its 200-day moving average is $66.46. The company has a market capitalization of $9.97 billion, a PE ratio of 15.92, a price-to-earnings-growth ratio of 0.95 and a beta of 1.19.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings data on Thursday, February 6th. The textile maker reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.08). Skechers U.S.A. had a return on equity of 13.81% and a net margin of 7.13%. Equities research analysts anticipate that Skechers U.S.A. will post 4.79 earnings per share for the current fiscal year.

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

In related news, President Michael Greenberg sold 10,274 shares of the stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total transaction of $693,289.52. Following the sale, the president now directly owns 149,327 shares of the company’s stock, valued at approximately $10,076,585.96. This represents a 6.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO David Weinberg sold 8,219 shares of the company’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total transaction of $554,618.12. Following the transaction, the chief operating officer now owns 122,211 shares of the company’s stock, valued at $8,246,798.28. This represents a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 24.75% of the stock is currently owned by corporate insiders.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Creative Planning lifted its stake in Skechers U.S.A. by 15.7% during the 2nd quarter. Creative Planning now owns 9,504 shares of the textile maker’s stock worth $657,000 after acquiring an additional 1,292 shares in the last quarter. Truist Financial Corp grew its holdings in shares of Skechers U.S.A. by 40.8% during the second quarter. Truist Financial Corp now owns 24,172 shares of the textile maker’s stock worth $1,671,000 after buying an additional 7,004 shares during the last quarter. Cetera Investment Advisers increased its stake in Skechers U.S.A. by 32.9% in the 2nd quarter. Cetera Investment Advisers now owns 25,016 shares of the textile maker’s stock valued at $1,729,000 after buying an additional 6,193 shares during the period. Sanctuary Advisors LLC purchased a new stake in shares of Skechers U.S.A. in the second quarter valued at approximately $1,027,000. Finally, GAMMA Investing LLC increased its holdings in Skechers U.S.A. by 89.6% in the third quarter. GAMMA Investing LLC now owns 2,215 shares of the textile maker’s stock valued at $148,000 after buying an additional 1,047 shares in the last quarter. Institutional investors and hedge funds 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.