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

Shares of Skechers U.S.A., Inc. (NYSE:SKX) have received an average recommendation of “Moderate Buy” from the thirteen research firms that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $80.42.

A number of equities research analysts have weighed in on SKX shares. StockNews.com downgraded shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Needham & Company LLC restated a “hold” rating on shares of Skechers U.S.A. in a research note on Friday, February 7th. TD Cowen increased their target price on Skechers U.S.A. from $88.00 to $93.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Stifel Nicolaus decreased their price target on Skechers U.S.A. from $83.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Finally, UBS Group reduced their target price on Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, February 7th.

Insider Buying and Selling

In other news, CFO John M. Vandemore sold 5,112 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $60.76, for a total transaction of $310,605.12. Following the completion of the transaction, the chief financial officer now directly owns 83,328 shares in the company, valued at $5,063,009.28. This represents a 5.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Phillip Paccione sold 10,994 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $56.63, for a total value of $622,590.22. Following the sale, the general counsel now owns 15,000 shares in the company, valued at approximately $849,450. This represents a 42.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 236,738 shares of company stock worth $14,700,809 over the last ninety days. Company insiders own 24.75% of the company’s stock.

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

Several institutional investors and hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its position in Skechers U.S.A. by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,316,882 shares of the textile maker’s stock worth $88,126,000 after acquiring an additional 17,429 shares during the period. Eagle Asset Management Inc. increased its position in shares of Skechers U.S.A. by 133.2% in the third quarter. Eagle Asset Management Inc. now owns 64,630 shares of the textile maker’s stock worth $4,026,000 after purchasing an additional 36,921 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Skechers U.S.A. in the third quarter valued at about $2,345,000. Loomis Sayles & Co. L P lifted its position in Skechers U.S.A. by 7.1% during the third quarter. Loomis Sayles & Co. L P now owns 752,067 shares of the textile maker’s stock worth $50,328,000 after purchasing an additional 49,734 shares during the period. Finally, Brooklyn Investment Group acquired a new stake in Skechers U.S.A. during the third quarter worth about $67,000. Institutional investors and hedge funds own 79.96% of the company’s stock.

Skechers U.S.A. Trading Up 4.2 %

Skechers U.S.A. stock opened at $58.42 on Tuesday. Skechers U.S.A. has a 12 month low of $53.79 and a 12 month high of $78.85. The company’s fifty day simple moving average is $65.30 and its 200-day simple moving average is $65.44. The company has a quick ratio of 1.12, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The stock has a market cap of $8.73 billion, a P/E ratio of 14.08, a P/E/G ratio of 1.11 and a beta of 1.21.

Skechers U.S.A. (NYSE:SKX) last posted its quarterly earnings data on Thursday, February 6th. The textile maker reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.08). Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. As a group, sell-side analysts forecast that Skechers U.S.A. will post 4.47 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.