Skechers U.S.A. (NYSE:SKX) Given New $77.00 Price Target at Barclays

Skechers U.S.A. (NYSE:SKX) had its price target decreased by stock analysts at Barclays from $80.00 to $77.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the textile maker’s stock. Barclays‘s price target would indicate a potential upside of 20.38% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Evercore ISI upped their price objective on Skechers U.S.A. from $72.00 to $85.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. StockNews.com raised Skechers U.S.A. from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. TD Cowen lifted their target price on Skechers U.S.A. from $88.00 to $93.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Bank of America reduced their price objective on shares of Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Finally, Stifel Nicolaus cut their target price on shares of Skechers U.S.A. from $83.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $81.25.

Skechers U.S.A. Stock Down 1.8 %

Shares of NYSE:SKX opened at $63.97 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.96 and a quick ratio of 1.25. Skechers U.S.A. has a 1 year low of $55.67 and a 1 year high of $78.85. The company has a market cap of $9.66 billion, a PE ratio of 15.41, a P/E/G ratio of 0.95 and a beta of 1.19. The stock’s 50-day moving average is $70.54 and its 200 day moving average is $66.51.

Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings results 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%. Sell-side analysts anticipate that Skechers U.S.A. will post 4.79 EPS for the current year.

Insider Activity at Skechers U.S.A.

In related news, 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 completion of the sale, the chief operating officer now directly owns 122,211 shares in the company, valued at $8,246,798.28. This represents a 6.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, President Michael Greenberg sold 10,274 shares of Skechers U.S.A. stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total value of $693,289.52. Following the completion of the transaction, the president now owns 149,327 shares in the company, valued at $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 Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SKX. Creative Planning lifted its position 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 during the period. Cetera Investment Advisers raised its position in shares of Skechers U.S.A. by 32.9% in the second quarter. Cetera Investment Advisers now owns 25,016 shares of the textile maker’s stock worth $1,729,000 after acquiring an additional 6,193 shares during the period. CWM LLC raised its position in shares of Skechers U.S.A. by 4.4% in the third quarter. CWM LLC now owns 10,637 shares of the textile maker’s stock worth $712,000 after acquiring an additional 451 shares during the period. UMB Bank n.a. grew its position in shares of Skechers U.S.A. by 423.3% during the 3rd quarter. UMB Bank n.a. now owns 450 shares of the textile maker’s stock valued at $30,000 after acquiring an additional 364 shares during the period. Finally, Gateway Investment Advisers LLC raised its holdings in Skechers U.S.A. by 107.5% in the 3rd quarter. Gateway Investment Advisers LLC now owns 6,838 shares of the textile maker’s stock worth $458,000 after purchasing an additional 3,543 shares during the period. 79.96% of the stock is owned by institutional investors and hedge funds.

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.