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

Shares of Skechers U.S.A., Inc. (NYSE:SKX) have been given an average rating of “Moderate Buy” by the fourteen analysts that are currently covering the stock, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $70.00.

A number of equities research analysts recently weighed in on the stock. UBS Group reissued a “neutral” rating and set a $63.00 price target (down from $64.00) on shares of Skechers U.S.A. in a research note on Tuesday, May 6th. Evercore ISI cut their price objective on shares of Skechers U.S.A. from $78.00 to $60.00 and set an “outperform” rating on the stock in a report on Thursday, April 17th. Bank of America cut their price objective on shares of Skechers U.S.A. from $76.00 to $70.00 and set a “buy” rating on the stock in a report on Monday, March 24th. StockNews.com lowered shares of Skechers U.S.A. from a “hold” rating to a “sell” rating in a report on Tuesday, May 6th. Finally, Stifel Nicolaus cut their price objective on shares of Skechers U.S.A. from $80.00 to $62.00 and set a “buy” rating on the stock in a report on Thursday, April 10th.

Skechers U.S.A. Trading Down 0.4%

Shares of NYSE SKX opened at $62.27 on Wednesday. Skechers U.S.A. has a 1-year low of $44.50 and a 1-year high of $78.85. The company has a market cap of $9.30 billion, a PE ratio of 15.00, a P/E/G ratio of 1.11 and a beta of 1.06. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average of $53.53 and a two-hundred day moving average of $62.09.

Skechers U.S.A. (NYSE:SKX) last announced its earnings results on Thursday, April 24th. The textile maker reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.17. Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. The company had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the previous year, the firm posted $1.33 earnings per share. The company’s revenue was up 7.1% on a year-over-year basis. As a group, equities analysts expect that Skechers U.S.A. will post 4.47 earnings per share for the current fiscal year.

Insider Transactions at Skechers U.S.A.

In related news, CFO John M. Vandemore sold 5,112 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $60.76, for a total value of $310,605.12. Following the completion of the transaction, the chief financial officer now owns 83,328 shares of the company’s stock, valued at approximately $5,063,009.28. This trade represents a 5.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO David Weinberg sold 26,913 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $60.76, for a total transaction of $1,635,233.88. Following the completion of the transaction, the chief operating officer now directly owns 44,637 shares of the company’s stock, valued at approximately $2,712,144.12. This trade represents a 37.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold 129,645 shares of company stock valued at $7,895,910 over the last quarter. Corporate insiders own 24.78% of the company’s stock.

Institutional Trading of Skechers U.S.A.

Large investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC lifted its stake in Skechers U.S.A. by 85.2% in the fourth quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker’s stock valued at $28,000 after acquiring an additional 190 shares during the last quarter. TD Private Client Wealth LLC lifted its stake in 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 valued at $29,000 after acquiring an additional 358 shares during the last quarter. Investment Management Corp VA ADV acquired a new stake in Skechers U.S.A. in the fourth quarter valued at $32,000. Parallel Advisors LLC lifted its stake in Skechers U.S.A. by 183.0% in the first quarter. Parallel Advisors LLC now owns 617 shares of the textile maker’s stock valued at $35,000 after acquiring an additional 399 shares during the last quarter. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Skechers U.S.A. during the 1st quarter worth about $35,000. Institutional investors and hedge funds own 79.96% of the company’s stock.

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.