Skechers U.S.A., Inc. (NYSE:SKX) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Skechers U.S.A., Inc. (NYSE:SKX) have been given a consensus recommendation of “Moderate Buy” by the thirteen analysts that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $81.25.

A number of research analysts recently commented on SKX shares. Raymond James lowered their price objective on shares of Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Barclays lowered their price target on shares of Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Evercore ISI increased their price objective on Skechers U.S.A. from $72.00 to $85.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Needham & Company LLC restated a “hold” rating on shares of Skechers U.S.A. in a research note on Friday, February 7th. Finally, UBS Group dropped their target price on Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, February 7th.

Skechers U.S.A. Price Performance

SKX opened at $58.90 on Friday. Skechers U.S.A. has a 12-month low of $55.67 and a 12-month high of $78.85. The company has a quick ratio of 1.12, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $8.89 billion, a P/E ratio of 14.19, a PEG ratio of 1.11 and a beta of 1.21. The stock has a fifty day moving average of $68.18 and a 200-day moving average of $66.42.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings data on Thursday, February 6th. The textile maker reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.08). Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. Equities analysts forecast that Skechers U.S.A. will post 4.47 EPS for the current fiscal year.

Insider Buying and Selling

In other Skechers U.S.A. news, General Counsel Phillip Paccione sold 10,994 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $56.63, for a total transaction of $622,590.22. Following the completion of the transaction, the general counsel now owns 15,000 shares of the company’s stock, valued at $849,450. The trade was a 42.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert Greenberg sold 52,600 shares of the company’s stock in a transaction dated Wednesday, February 12th. The shares were 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 owns 61,367 shares of the company’s stock, valued at $3,848,938.24. This trade represents a 46.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 236,738 shares of company stock worth $14,700,809. 24.75% of the stock is currently owned by insiders.

Institutional Trading of Skechers U.S.A.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in shares of Skechers U.S.A. by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 12,544,233 shares of the textile maker’s stock valued at $843,474,000 after acquiring an additional 82,143 shares during the period. Anomaly Capital Management LP boosted its holdings in Skechers U.S.A. by 51.2% in the 4th quarter. Anomaly Capital Management LP now owns 2,989,015 shares of the textile maker’s stock valued at $200,981,000 after purchasing an additional 1,011,815 shares during the period. Pacer Advisors Inc. boosted its holdings in Skechers U.S.A. by 5,780.6% in the 3rd quarter. Pacer Advisors Inc. now owns 2,639,390 shares of the textile maker’s stock valued at $176,628,000 after purchasing an additional 2,594,507 shares during the period. Bank of New York Mellon Corp grew its position in Skechers U.S.A. by 70.4% in the 4th quarter. Bank of New York Mellon Corp now owns 2,308,283 shares of the textile maker’s stock worth $155,209,000 after purchasing an additional 953,528 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Skechers U.S.A. by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 2,294,976 shares of the textile maker’s stock worth $154,361,000 after purchasing an additional 78,071 shares during the period. 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.