Skechers U.S.A. (NYSE:SKX) Cut to “Hold” at StockNews.com

Skechers U.S.A. (NYSE:SKX) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Monday.

Other research analysts have also recently issued reports about the stock. Barclays dropped their target price on shares of Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating for the company in a report on Monday. TD Cowen increased their price target 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. Deutsche Bank Aktiengesellschaft upped their target price 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. Morgan Stanley boosted their price target on Skechers U.S.A. from $81.00 to $84.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Finally, Raymond James cut their target price on shares of Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Skechers U.S.A. presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.25.

Skechers U.S.A. Trading Down 1.8 %

Shares of Skechers U.S.A. stock opened at $63.97 on Monday. The company’s fifty day moving average is $70.54 and its two-hundred day moving average is $66.51. Skechers U.S.A. has a 1 year low of $55.67 and a 1 year high of $78.85. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.25 and a current ratio of 1.96. The company has a market capitalization of $9.66 billion, a P/E ratio of 15.41, a PEG ratio of 0.95 and a beta of 1.19.

Skechers U.S.A. (NYSE:SKX) last announced its earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share 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 13.81%. Analysts forecast that Skechers U.S.A. will post 4.79 earnings per share for the current year.

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 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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Michael Greenberg sold 10,274 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the president now owns 149,327 shares of the company’s stock, valued at approximately $10,076,585.96. This trade represents a 6.44 % decrease in their position. The disclosure for this sale can be found here. 24.75% of the stock is owned by company insiders.

Institutional Trading of Skechers U.S.A.

Institutional investors have recently made changes to their positions in the stock. Spire Wealth Management boosted its position in Skechers U.S.A. by 11.6% during the fourth quarter. Spire Wealth Management now owns 1,486 shares of the textile maker’s stock valued at $100,000 after purchasing an additional 155 shares during the last quarter. Calamos Wealth Management LLC grew its position in shares of Skechers U.S.A. by 0.9% in the fourth quarter. Calamos Wealth Management LLC now owns 18,257 shares of the textile maker’s stock valued at $1,228,000 after purchasing an additional 157 shares during the last quarter. Lindenwold Advisors INC increased its stake in shares of Skechers U.S.A. by 3.0% in the third quarter. Lindenwold Advisors INC now owns 6,663 shares of the textile maker’s stock worth $446,000 after purchasing an additional 195 shares during the period. Independent Advisor Alliance boosted its stake in Skechers U.S.A. by 4.7% during the 4th quarter. Independent Advisor Alliance now owns 4,486 shares of the textile maker’s stock valued at $302,000 after purchasing an additional 200 shares during the period. Finally, Blue Trust Inc. grew its holdings in Skechers U.S.A. by 20.7% in the 4th quarter. Blue Trust Inc. now owns 1,208 shares of the textile maker’s stock valued at $81,000 after buying an additional 207 shares during the last quarter. 79.96% of the stock is currently owned by institutional investors and hedge funds.

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.