Stifel Nicolaus Lowers Skechers U.S.A. (NYSE:SKX) Price Target to $62.00

Skechers U.S.A. (NYSE:SKX) had its price objective cut by equities research analysts at Stifel Nicolaus from $80.00 to $62.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the textile maker’s stock. Stifel Nicolaus’ price target points to a potential upside of 24.86% from the stock’s current price.

Several other research firms also recently commented on SKX. TD Cowen boosted their target price on shares of Skechers U.S.A. from $88.00 to $93.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Raymond James lowered their price objective 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, February 7th. Needham & Company LLC reiterated a “hold” rating on shares of Skechers U.S.A. in a report on Friday, February 7th. Evercore ISI raised their price objective on Skechers U.S.A. from $72.00 to $85.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Finally, Barclays reduced their target price on shares of Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $78.92.

Skechers U.S.A. Stock Down 1.8 %

NYSE:SKX traded down $0.92 during trading hours on Thursday, reaching $49.66. The company had a trading volume of 1,162,086 shares, compared to its average volume of 2,759,427. The business’s 50-day simple moving average is $59.51 and its two-hundred day simple moving average is $64.21. Skechers U.S.A. has a twelve month low of $44.50 and a twelve month high of $78.85. The firm has a market cap of $7.42 billion, a price-to-earnings ratio of 11.97, a P/E/G ratio of 1.11 and a beta of 1.08. The company has a quick ratio of 1.12, a current ratio of 1.97 and a debt-to-equity ratio of 0.01.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. On average, equities 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, CFO John M. Vandemore sold 5,112 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 83,328 shares of the company’s stock, valued at $5,063,009.28. The trade was a 5.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO David Weinberg sold 26,913 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 218,245 shares of company stock worth $13,452,902. Company insiders own 24.75% of the company’s stock.

Institutional Trading of Skechers U.S.A.

A number of institutional investors have recently added to or reduced their stakes in SKX. Stifel Financial Corp lifted its holdings in shares of Skechers U.S.A. by 120.7% in the third quarter. Stifel Financial Corp now owns 72,808 shares of the textile maker’s stock worth $4,872,000 after buying an additional 39,819 shares in the last quarter. National Bank of Canada FI lifted its stake in 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 worth $4,732,000 after purchasing an additional 67,812 shares in the last quarter. Vestcor Inc purchased a new position in shares of Skechers U.S.A. during the 3rd quarter valued at $730,000. Geode Capital Management LLC increased its holdings in shares of Skechers U.S.A. by 0.5% in the third quarter. Geode Capital Management LLC now owns 2,216,905 shares of the textile maker’s stock worth $148,395,000 after purchasing an additional 11,026 shares during the period. Finally, Te Ahumairangi Investment Management Ltd raised its position in shares of Skechers U.S.A. by 31.0% in the third quarter. Te Ahumairangi Investment Management Ltd now owns 89,950 shares of the textile maker’s stock worth $5,985,000 after buying an additional 21,275 shares in the last quarter. Hedge funds and other institutional investors 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.