Skechers U.S.A., Inc. (NYSE:SKX) Receives $80.18 Consensus Target Price from Brokerages

Skechers U.S.A., Inc. (NYSE:SKX) has been assigned an average recommendation of “Moderate Buy” from the thirteen ratings firms that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $81.50.

Several equities research analysts have weighed in on the company. Raymond James cut their target price on Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating for the company in a research note on Friday. Bank of America dropped their price objective on Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, October 25th. StockNews.com upgraded Skechers U.S.A. from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. Evercore ISI increased their target price on shares of Skechers U.S.A. from $72.00 to $85.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Finally, Morgan Stanley raised their price target on shares of Skechers U.S.A. from $81.00 to $84.00 and gave the company an “overweight” rating in a research note on Friday, October 25th.

Insider Activity at Skechers U.S.A.

In other news, President Michael Greenberg sold 10,274 shares of the business’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 value of $693,289.52. Following the transaction, the president now owns 149,327 shares in the company, valued at approximately $10,076,585.96. The trade was a 6.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 sale, the chief operating officer now owns 122,211 shares of the company’s stock, valued at approximately $8,246,798.28. This trade 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 company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SKX. Sanctuary Advisors LLC grew its holdings in Skechers U.S.A. by 88.1% in the third quarter. Sanctuary Advisors LLC now owns 29,538 shares of the textile maker’s stock worth $1,822,000 after purchasing an additional 13,836 shares during the period. Victory Capital Management Inc. boosted its position in shares of Skechers U.S.A. by 22.3% during the 3rd quarter. Victory Capital Management Inc. now owns 138,893 shares of the textile maker’s stock worth $9,295,000 after purchasing an additional 25,289 shares in the last quarter. Transform Wealth LLC acquired a new stake in shares of Skechers U.S.A. in the 3rd quarter valued at about $7,186,000. National Bank of Canada FI grew its stake in shares of Skechers U.S.A. by 2,340.0% in the 3rd quarter. National Bank of Canada FI now owns 70,710 shares of the textile maker’s stock valued at $4,732,000 after buying an additional 67,812 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Skechers U.S.A. by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,316,882 shares of the textile maker’s stock valued at $88,126,000 after buying an additional 17,429 shares in the last quarter. 79.96% of the stock is owned by institutional investors and hedge funds.

Skechers U.S.A. Stock Down 12.6 %

Shares of NYSE SKX opened at $66.06 on Monday. The stock has a market capitalization of $9.97 billion, a P/E ratio of 16.27, a PEG ratio of 0.92 and a beta of 1.19. The stock’s fifty day moving average is $70.51 and its 200 day moving average is $66.46. Skechers U.S.A. has a 52 week low of $55.67 and a 52 week 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.

Skechers U.S.A. (NYSE:SKX) last released its earnings results on Thursday, February 6th. The textile maker reported $0.65 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.08). Skechers U.S.A. had a net margin of 7.19% and a return on equity of 13.71%. Sell-side analysts forecast that Skechers U.S.A. will post 4.24 earnings per share 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.