Skechers U.S.A., Inc. (NYSE:SKX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Skechers U.S.A., Inc. (NYSE:SKX) has been given an average rating of “Moderate Buy” by the thirteen ratings firms that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $80.42.

A number of analysts have recently commented on SKX shares. UBS Group cut their price target on Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Barclays reduced their price target on Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Bank of America lowered their price objective on shares of Skechers U.S.A. from $76.00 to $70.00 and set a “buy” rating on the stock in a report on Monday, March 24th. Needham & Company LLC restated a “hold” rating on shares of Skechers U.S.A. in a report on Friday, February 7th. Finally, Stifel Nicolaus lowered their price target on shares of Skechers U.S.A. from $83.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, February 7th.

Skechers U.S.A. Price Performance

NYSE SKX opened at $56.81 on Tuesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.12 and a current ratio of 1.97. The stock has a market cap of $8.49 billion, a price-to-earnings ratio of 13.69, a PEG ratio of 1.11 and a beta of 1.21. The business has a 50 day simple moving average of $64.01 and a 200 day simple moving average of $65.14. Skechers U.S.A. has a 52-week low of $53.79 and a 52-week high of $78.85.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings data 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%. Analysts anticipate that Skechers U.S.A. will post 4.47 earnings per share for the current fiscal year.

Insider Buying and Selling at Skechers U.S.A.

In other Skechers U.S.A. news, COO David Weinberg sold 36,000 shares of the company’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $62.72, for a total value of $2,257,920.00. Following the transaction, the chief operating officer now directly owns 54,499 shares in the company, valued at $3,418,177.28. The trade was a 39.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert Greenberg sold 52,600 shares of the 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 completion of the transaction, the chief executive officer now directly owns 61,367 shares in the company, valued at $3,848,938.24. The trade was a 46.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 218,245 shares of company stock worth $13,452,902 over the last 90 days. Company insiders own 24.75% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of Skechers U.S.A. by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 12,544,233 shares of the textile maker’s stock worth $843,474,000 after acquiring an additional 82,143 shares during the period. Anomaly Capital Management LP lifted its holdings in Skechers U.S.A. by 51.2% during the 4th quarter. Anomaly Capital Management LP now owns 2,989,015 shares of the textile maker’s stock worth $200,981,000 after purchasing an additional 1,011,815 shares during the last quarter. Bank of New York Mellon Corp boosted its stake 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 valued at $155,209,000 after purchasing an additional 953,528 shares during the period. Geode Capital Management LLC grew its holdings in Skechers U.S.A. by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 2,294,976 shares of the textile maker’s stock valued at $154,361,000 after buying an additional 78,071 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Skechers U.S.A. by 19.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,212,020 shares of the textile maker’s stock worth $148,743,000 after buying an additional 357,681 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.