Skechers U.S.A. (NYSE:SKX) Rating Lowered to “Hold” at StockNews.com

StockNews.com lowered shares of Skechers U.S.A. (NYSE:SKX) from a buy rating to a hold rating in a research note published on Monday.

Other analysts have also recently issued research reports about the stock. UBS Group cut their target price on shares of Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Deutsche Bank Aktiengesellschaft raised their target price on Skechers U.S.A. from $83.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Morgan Stanley increased their price objective on 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. Raymond James dropped their target price on shares of Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Finally, Evercore ISI upped their price target 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. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Skechers U.S.A. has an average rating of “Moderate Buy” and an average price target of $81.25.

Skechers U.S.A. Price Performance

NYSE:SKX opened at $63.03 on Monday. The company has a quick ratio of 1.25, a current ratio of 1.96 and a debt-to-equity ratio of 0.01. Skechers U.S.A. has a 52 week low of $55.67 and a 52 week high of $78.85. The stock’s 50-day moving average price is $70.43 and its 200-day moving average price is $66.50. The stock has a market capitalization of $9.52 billion, a PE ratio of 15.19, a price-to-earnings-growth ratio of 0.95 and a beta of 1.19.

Skechers U.S.A. (NYSE:SKX) last announced its earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share for the quarter, missing the consensus estimate 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%. As a group, equities analysts expect that Skechers U.S.A. will post 4.79 EPS for the current fiscal year.

Insider Activity

In other Skechers U.S.A. news, President Michael Greenberg sold 10,274 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total value of $693,289.52. Following the sale, the president now owns 149,327 shares of the company’s stock, valued at $10,076,585.96. The trade was a 6.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO David Weinberg sold 8,219 shares of Skechers U.S.A. stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total value of $554,618.12. Following the completion of the sale, the chief operating officer now directly owns 122,211 shares of the company’s stock, valued at $8,246,798.28. The trade was a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 24.75% of the company’s stock.

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

Institutional investors have recently modified their holdings of the business. Creative Planning increased its holdings 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 purchasing an additional 1,292 shares during the period. Cetera Investment Advisers increased its position in shares of Skechers U.S.A. by 32.9% in the 2nd quarter. Cetera Investment Advisers now owns 25,016 shares of the textile maker’s stock valued at $1,729,000 after purchasing an additional 6,193 shares during the last quarter. CWM LLC lifted its position in shares of Skechers U.S.A. by 4.4% during the 3rd quarter. CWM LLC now owns 10,637 shares of the textile maker’s stock worth $712,000 after purchasing an additional 451 shares during the last quarter. UMB Bank n.a. grew its stake in shares of Skechers U.S.A. by 423.3% during the third quarter. UMB Bank n.a. now owns 450 shares of the textile maker’s stock worth $30,000 after purchasing an additional 364 shares in the last quarter. Finally, Gateway Investment Advisers LLC grew its stake in shares of Skechers U.S.A. by 107.5% during the third 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 in the last quarter. 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.