UBS Group Reiterates “Neutral” Rating for Skechers U.S.A. (NYSE:SKX)

Skechers U.S.A. (NYSE:SKX)‘s stock had its “neutral” rating restated by UBS Group in a note issued to investors on Tuesday,Benzinga reports. They currently have a $63.00 target price on the textile maker’s stock, down from their previous target price of $64.00. UBS Group’s price target indicates a potential upside of 2.60% from the company’s previous close.

Other research analysts have also recently issued reports about the company. Raymond James reduced their price target on Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. StockNews.com downgraded shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Monness Crespi & Hardt dropped their price target on shares of Skechers U.S.A. from $85.00 to $70.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Evercore ISI decreased their price objective on shares of Skechers U.S.A. from $78.00 to $60.00 and set an “outperform” rating for the company in a research report on Thursday, April 17th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Skechers U.S.A. in a report on Tuesday, April 22nd. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Skechers U.S.A. has an average rating of “Moderate Buy” and an average price target of $70.77.

Skechers U.S.A. Stock Up 0.0 %

SKX stock traded up $0.02 during trading hours on Tuesday, reaching $61.41. 25,195,077 shares of the stock were exchanged, compared to its average volume of 2,703,737. The firm’s 50-day moving average is $53.24 and its 200-day moving average is $62.09. Skechers U.S.A. has a 12 month low of $44.50 and a 12 month high of $78.85. The company has a market cap of $9.17 billion, a price-to-earnings ratio of 14.79, a PEG ratio of 1.11 and a beta of 1.06. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12.

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

Insider Activity at Skechers U.S.A.

In other news, COO David Weinberg sold 36,000 shares of the company’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total transaction of $2,257,920.00. Following the completion of the sale, the chief operating officer now directly owns 54,499 shares in the company, valued at approximately $3,418,177.28. This represents a 39.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Robert Greenberg sold 52,600 shares of the company’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total transaction of $3,299,072.00. Following the sale, the chief executive officer now directly owns 61,367 shares of the company’s stock, valued at $3,848,938.24. This represents a 46.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 218,245 shares of company stock worth $13,452,902 in the last ninety days. 24.78% of the stock is owned by company insiders.

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

Hedge funds have recently bought and sold shares of the company. NewEdge Advisors LLC lifted its holdings in shares of Skechers U.S.A. by 85.2% during the 4th quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker’s stock worth $28,000 after acquiring an additional 190 shares during the period. TD Private Client Wealth LLC lifted its stake in Skechers U.S.A. by 534.3% during the fourth quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker’s stock worth $29,000 after purchasing an additional 358 shares during the last quarter. Investment Management Corp VA ADV acquired a new stake in shares of Skechers U.S.A. in the 4th quarter valued at $32,000. Parallel Advisors LLC increased its stake in shares of Skechers U.S.A. by 183.0% in the 1st quarter. Parallel Advisors LLC now owns 617 shares of the textile maker’s stock valued at $35,000 after purchasing an additional 399 shares during the last quarter. Finally, Golden State Wealth Management LLC acquired a new position in shares of Skechers U.S.A. during the 1st quarter worth $35,000. 79.96% of the stock is owned by institutional investors.

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.